D Trade on Jan 13, 2021 15:12 from tjmiller2001: Tradervue User Stock Trades.

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tjmiller2001

 

Not something to be proud of. Saw a series of higher lows near support on a small time frame and tried to call it a reversal. In reality, this was one green day after a string of red days. That level had only been tested one other time, it wasn't that strong. This was me wanting to be in a position and shifting the narrative to see what I wanted to.

Instead of looking at a chart and trying to convince myself why I should make a directional bet, my approach should involve looking at a chart and listing the reasons I shouldn't buy calls or puts. If I can't find compelling reasons, it's a trade I should enter.

Must avoid wanting to be in on market moves, FOMO. Instead, take a few A+ setups. It's not about the money at this point in my journey. It's about developing good habits/practices.

Proud of myself for cutting this loser as soon as support broke.

Lesson Learned: After exiting a loss, ask yourseslf, "Is now a good time to take this short?" Being able to flip my bias here would've made sense. Also, don't force trades, entering positions on weak setups.


Execution detail:

Date/time Symbol Side Price Position
2021-01-13 15:12:22 16 APR 21 75 CALL buy $1.850 long
2021-01-14 10:07:27 16 APR 21 75 CALL sell $1.600 0


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