Premarket plan: Following the major trend -4H timeframe-, I can see a a rally at the market open to the $161.00 key level, and then a breakdown below $160.50. On the bear side I'd wait this rally to the $161.00 level, that's where I'd take my first entry with a put option, with a stop-loss at the $161.15 breakout, and a take profit at the $160.50 level. For the bull side, if at the market open I see a pullback on the price to the $160.00 key level, that's where I'd take my entry with a call option, with a stop-loss at the $159.85 level breakdown, and a take profit at the $160.50 level. On both sides I have a 3.3:1 risk:reward ratio. If the market moves on my direction I'd take my second entry at the daily open price breakdown/breakout.
Second trade plan: If my first trade doesn't workout and I get out with my stop-loss. I'd take a second entry at the next level of $0.50, placing my stop-loss $0.15 cents below the level of my entry.
Stop-loss: $161.20
Entry level: $161.00
Trail-stop: None.
Take profit level: $160.50 (Non-taken)
Second entry: Non-taken.
Plan respected? Yes.
What did I do different from my premarket plan? Nothing.
If I did not followed my plan, what could've or should've I done differently on this trade? Nothing.
Comments: Due some mistakes testing TradeStation, I tried to get out of the trade when I was proved wrong, but I couldn't respect my stop-loss. Tomorrow definitely will be better.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-11-24 10:30:17 | AAPL | buy | $5.650 | long |
2021-11-24 10:30:24 | AAPL | sell | $5.340 | 0 |
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