Shared by
tjmiller2001
From 10:00-10:20, AAPL was showing relative strength to /ES, an instrument it tends to trade closely with. My thesis was that if /ES were to uptrend, AAPL would uptrend even more.
At 10:26 I planned to get long on AAPL on a green 1m candle close for /ES.
At 10:27 I was filled according to that plan. I had a 3:1 RR. It seems like all relative strength was lost after my entry. I was stopped out at 10:31 with price under VWAP.
Lesson Learned: I have no edge with relative strength strategies. I need to stick to learning the SD strategy then I can focus on other strategies once I improve my SD trading.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-06-08 10:27:24 | 11 JUN 21 127 CALL | buy | $1.390 | long |
| 2021-06-08 10:31:04 | 11 JUN 21 127 CALL | sell | $1.290 | 0 |
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