AMZN Trade on Jul 14, 2020 14:36 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: N/A
• Earnings Date: 7/30
• IV: 60%
• Potential Profit: $530
• Potential Loss: $4300

Reason For Entry:

• Playing the Daily chart, Butterfly Spread. AMZN pulled back to the 8 EMA and I executed a Butterfly spread risking around $500 to profit at a max of around $4300. Nice risk to reward and will see how this one plays out.

Reason For Exit:

• AMZN faded until I closed the position for a big loss.

Recap:

• This is NOT my strategy that I follow. I tend to get somewhat bored and want to try new trading techniques. In this case, a Butterfly trade WITHOUT the proper pattern setup that I follow. Dont get me wrong, I can trade Butterflies BUT will need to make sure that I am trading the pattern that I follow. Let this be a HUGE learning experience to stick to what I know and to what WORKS. This was a BIG LOSS compared to other losses I have incurred. Learn from this.