Shared by
spyrosz
(-) BAD RISK MANAGEMENT, I can't believe I lost Tier I on that trade! Because I am up huge on the swings doesn't mean I can take more risk than justified by the setup+tape!!.
Daily donation, and bigger than originally intented!!!
Market un-shortable at the moment, cannot make money shorting if you don't get the top!
1st short: just testing the water, papercut loss.
2nd short: HUGE technical reversal pattern ---> completely justified short!!
-- Shooting star on the 60min
-- Bearish engulfing candle of the previous 2! candles on the 30min
-- Bearish engulfing candle of the previous 3! candles on the 15min
Waited patiently for the retracement to previous resistance/breakout level + broken intraday asc. trendline=$347.
Got short Tier 0, risking HOD=$348, added two momo tiers when it rejected $347 and started rolling over, placing bids in-front of VWAP and at lower prices, thinking this might be a short-term top...
Well, it didn't even sell-off to VWAP....tell sign...
Stopped out.
Tried it another two times, but tape was relentless + no patience = got the fuck out of here....
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-08-26 11:18:46 | SPY | sell | $345.150 | short |
| 2020-08-26 11:25:26 | SPY | sell | $345.240 | short |
| 2020-08-26 11:29:48 | SPY | sell | $345.460 | short |
| 2020-08-26 11:29:54 | SPY | buy | $345.470 | short |
| 2020-08-26 11:41:45 | SPY | buy | $345.760 | 0 |
| 2020-08-26 14:51:49 | SPY | sell | $346.990 | short |
| 2020-08-26 14:51:52 | SPY | sell | $346.952 | short |
| 2020-08-26 14:53:34 | SPY | sell | $346.950 | short |
| 2020-08-26 14:55:21 | SPY | sell | $346.780 | short |
| 2020-08-26 15:15:59 | SPY | sell | $347.330 | short |
| 2020-08-26 15:22:14 | SPY | buy | $347.510 | 0 |
| 2020-08-26 15:38:38 | SPY | sell | $347.330 | short |
| 2020-08-26 15:40:14 | SPY | sell | $347.270 | short |
| 2020-08-26 15:42:44 | SPY | sell | $347.290 | short |
| 2020-08-26 15:46:15 | SPY | buy | $347.450 | 0 |
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