Trade/Risk Management & Review
Made an error in my checklist on this trade not recognizing the expiration date. It was a significant single variable that needs to be checked for risk management purposes. This was an execution error and swiftly exited once it was discovered.
The trade error drew down 24% of my profits for the week. Still +75% margin profit gained for the slow week but these things can be prevented. Still going to continue to keep this in my specific playbook and manage risk appropriately.
Noting that I was not in a favorable state and execution was handled remotely. I was not fully attentive due to a recent event and other combined variables.
At a larger scale this is significant and thankfully a smaller lesson payed today. Not sure if I can consider this as "one good trade" but I can say this is "one good save". Looking forward to the earnings season kick-off with financials next week !
(note : review/playbook hybrid format not used in this trade due to the specific matter of the trade and continuing to utilize the "Mobile Remote Trade")
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-04-09 14:56:49 | 16 APR 21 28 CALL | sell | $0.0500 | short |
2021-04-09 14:57:49 | 16 APR 21 28 CALL | sell | $0.0500 | short |
2021-04-09 15:03:49 | 16 APR 21 28 CALL | buy | $0.0800 | short |
2021-04-09 15:03:49 | 16 APR 21 28 CALL | buy | $0.0800 | 0 |
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