Shared by
dpaleo
Tags:
got the requisite -TICKs and a little panic in SPY so nibbled and added on right side. Bottom wasnt perfect but did really well with small stop and add back. Traded it beautifully from there.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2021-03-04 13:51:55 | TQQQ | 200 | $77.960 | 200 |
| 2021-03-04 13:51:55 | TQQQ | 300 | $77.950 | 500 |
| 2021-03-04 13:53:55 | TQQQ | 500 | $77.240 | 1000 |
| 2021-03-04 13:54:19 | TQQQ | 500 | $77.440 | 1500 |
| 2021-03-04 13:55:46 | TQQQ | 500 | $77.690 | 2000 |
| 2021-03-04 13:59:12 | TQQQ | -1000 | $77.180 | 1000 |
| 2021-03-04 14:00:36 | TQQQ | 500 | $77.590 | 1500 |
| 2021-03-04 14:06:01 | TQQQ | 500 | $78.060 | 2000 |
| 2021-03-04 14:06:06 | TQQQ | 200 | $78.140 | 2200 |
| 2021-03-04 14:06:06 | TQQQ | 300 | $78.130 | 2500 |
| 2021-03-04 14:09:16 | TQQQ | -200 | $78.450 | 2300 |
| 2021-03-04 14:09:27 | TQQQ | -200 | $78.680 | 2100 |
| 2021-03-04 14:20:24 | TQQQ | 300 | $78.700 | 2400 |
| 2021-03-04 14:20:27 | TQQQ | 300 | $78.710 | 2700 |
| 2021-03-04 14:23:34 | TQQQ | -400 | $79.220 | 2300 |
| 2021-03-04 14:23:34 | TQQQ | -300 | $79.230 | 2000 |
| 2021-03-04 14:24:40 | TQQQ | -300 | $79.470 | 1700 |
| 2021-03-04 14:25:17 | TQQQ | -200 | $79.630 | 1500 |
| 2021-03-04 14:25:53 | TQQQ | -200 | $79.930 | 1300 |
| 2021-03-04 14:26:04 | TQQQ | -200 | $80.040 | 1100 |
| 2021-03-04 14:38:10 | TQQQ | 400 | $79.140 | 1500 |
| 2021-03-04 14:44:13 | TQQQ | -200 | $80.360 | 1300 |
| 2021-03-04 14:44:38 | TQQQ | -200 | $80.480 | 1100 |
| 2021-03-04 14:45:26 | TQQQ | -200 | $80.670 | 900 |
| 2021-03-04 14:47:18 | TQQQ | -200 | $80.870 | 700 |
| 2021-03-04 14:47:26 | TQQQ | -300 | $80.970 | 400 |
| 2021-03-04 15:01:29 | TQQQ | -200 | $80.790 | 200 |
| 2021-03-04 15:01:42 | TQQQ | -100 | $80.950 | 100 |
| 2021-03-04 15:05:09 | TQQQ | -100 | $80.020 | 0 |
Comments
dpaleo
ADillPickleTrading
wow that was a great trade! what made you want to add on that first bounce after the large dip? was there some support I'm not seeing? I understand the add when it broke the first pivot around high 78s and the add on the retracement to 79 but don't understand why you took your original position. thanks for sharing these man!
Augustus20
Good one. It was really hard work. Market looked couple of times it ends but it was deeper.
Zoltan
Excellent work dp!
I am wondering how you are adding size in general. In this example I see how you traded:
I imagine you started scaling on the panic and you needed to bail once it seemed as if it takes out the lod. Than as it immediately reversed you reentered 50% size and as it confirmed higher another 100%.
You only took off a 1/3.
So what made you hold onto it on the dip to 78 and why did you not add until later at 78.70? For example when you added back at 79 later, that was a perfect entry. Trading is not perfect - I know.
I see in general here, that you did more scaling out than scaling in here. Whereas you often do both.
What I love here is that you bailed in the begging and went back right after when a strong bounce candle appeared which gave you confidence in your idea of the first place.
I would ask also: when you want add size on the backside, do you do so simply on momentum?
Pickle, it wasnt a support play. It was more that SPY fell high in a straight line over 2 ATR (Qs almost 2 ATRs) and it was day 3 of mkt pullback so looking for bounce. I was waiting to see some very large -TICKs to mark a possible capitulation and possible end to any forced selling. The large -TICKs is what i used for entry at $78 and then $77. I added on the bounce off $77 thinking there was a decent chance low could be in but there wasnt that true A+ flush low. And it turned out there was one more low to be made. So i stopped 1k shs to play some defense but was comfortable holding most bc it felt like low was close. And after that last new low was made, which was followed up by a very strong green candle, that to me said sellers were out of juice.
Zoltan, here is where i wish i added back the 1k stop plus another 1k bc to me the low is now in. Then when it breaks above that range (>$78) another 500 add woulda been great. Ideally i like to have a bigger % of my position entered on backside but on climax or capitulation type plays my size is often closer to even frontside vs backside. Thank you very much for this question and making be evaluate the execution of my entries closer.
This wasnt an easy entry imo.
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Really nice work