Shared by
TechOptions
Nice run pre-market on heavy volume. Open sold off a little bit as profit takers stepped in. To be expected. She then went into a bull coil on a low volume ebb. Good resistance at $7. Waited for her to break above $7 and started scaling in and building my position. Started scaling out at a 70% gain as she was starting to show signs of exhausting. She broke out again and I added to my position cost averaging up with a cost basis at .215. Closed final position when an evening star pattern developed and closed out at about $.03 from the top. MRO then faded off the rest of the session.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-06-05 10:19:08 | 5 JUN 20 7 CALL | buy | $0.0900 | long |
| 2020-06-05 10:19:08 | 5 JUN 20 7 CALL | buy | $0.0900 | long |
| 2020-06-05 10:21:19 | 5 JUN 20 7 CALL | buy | $0.1000 | long |
| 2020-06-05 10:21:38 | 5 JUN 20 7 CALL | buy | $0.1000 | long |
| 2020-06-05 10:22:58 | 5 JUN 20 7 CALL | buy | $0.1000 | long |
| 2020-06-05 10:23:04 | 5 JUN 20 7 CALL | buy | $0.1000 | long |
| 2020-06-05 11:15:08 | 5 JUN 20 7 CALL | sell | $0.1700 | long |
| 2020-06-05 11:15:49 | 5 JUN 20 7 CALL | sell | $0.2000 | long |
| 2020-06-05 11:16:23 | 5 JUN 20 7 CALL | sell | $0.1800 | long |
| 2020-06-05 11:16:23 | 5 JUN 20 7 CALL | sell | $0.1800 | long |
| 2020-06-05 11:24:23 | 5 JUN 20 7 CALL | sell | $0.2500 | long |
| 2020-06-05 11:44:59 | 5 JUN 20 7 CALL | buy | $0.3500 | long |
| 2020-06-05 11:51:44 | 5 JUN 20 7 CALL | sell | $0.4000 | 0 |
Comments
TechOptions
I've been trading for about 16 years. And believe me I have made about every single mistake you can possibly think of in my earlier days. At this point in my trading career I have gotten very consistent. Running about a 79% win rate with a 2:1 profit to loss ratio minimum on most trades. It takes time to hone your skills. In the evenings you should be studying and running sims if you arent already doing that. Focus on increasing your overall win rate, building your trading rules, and proper risk management if you havent done so yet. I'm not sure where you are at in your journey. There's a good mix of both seasoned and beginner traders on this platform. But I'm always willing to help.
CharliePham
I like your style as i really ressonate with it. I also only trade All or nothing 2:1.
Im still a novice with my system so im now just building a process and system for it all. I spend 1-1.5 hours premarket screening, studying the overall market and building a watchlist.
Then i live-trade from 09.30 to 17:00.
Then i end the day with around 1 hour of journalling and market replay of the watchlist. Was it something like this that you had in mind? And really thanks for the feedbacks man, not alot of people that share their knowledge for "free" to strangers.
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How long you been doing this for? Capturing a 70% is really impressive. And thanks for the reply and insight on my trade - really appreciate it :)