Shared by
WizardKing
PLAY: Uptrend/Breakout
KEY LEVEL: 23.60(HOD), 24, 25
Did I follow my stop loss rules?Didn't apply
Entry(Notes): There was emotions involved here. 10 contracts? I wanted to make back the losses I had on PYPL. Also, from a trade aspect of things, there could have been an add as stock was holding above 24. Guess I didn't want to risk anymore though. I decided to finally add at the area where I should have exited-- on the dip back to 25.
Exit(Notes): Usually, I would have taken half off at the PT of 24. Today I just didn't do that, I decided to let it run. Second PT of 25 hit, so took half off there. Good risk management. Now... I was betting on the stock holding above. It clearly dumped back below, and I lost back a good chunk of those unrealized gains, PLUS an actually loss on the calls I added on the 25 dip.
I don't blame myself for leaving half of the position ride, to see if the stocks hold 25. I shouldn't have added though. Risking profits are okay, but not too much either, especially on a move as overextend as this.
Chart:
5 Min: 
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-04-09 10:38:12 | APR09 21 23 CALL | buy | $0.7700 | long |
| 2021-04-09 10:55:26 | APR09 21 23 CALL | sell | $1.880 | long |
| 2021-04-09 11:04:59 | APR09 21 23 CALL | buy | $2.180 | long |
| 2021-04-09 11:07:42 | APR09 21 23 CALL | sell | $1.860 | long |
| 2021-04-09 11:07:45 | APR09 21 23 CALL | sell | $1.780 | 0 |
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