Premarket plan: Today is all about risk management and patience. I've been bullish on $AAPL the last three days, waiting on those strong supports to be rejected. Today I'm still bullish, but my risk management will be a lot more strict. There's a strong resistance at the -61.8% Fibonacci level -$166.54-, that's where I'd take my entry with a call option, with a stop-loss at the $166.00 level -just where the gap would be filled-, and a take profit at the $169.50 key level.
Projected R:R Ratio: 6:1
Actual R:R Ratio: 2:1
Stop-loss: $168.00 (Non-taken)
Entry level: $168.75
Take profit level: $167.20
Second entry: None.
Trail-stop: None.
Plan respected? No.
What did I do different from my premarket plan? No taking the trade on the way I projected on.
If I did not followed my plan, what could've or should've I done differently on this trade? Nothing, probably I would not even took the trade if I've sticked to my premarket plan.
Comments: I ditched my pre-market plan and made a quick scalp with a put option at the $167.50 level rejection, to the Daily Open Price -$167.00- level. I don't regret it, as it seemed like an obvious trade, but it was not planned at all, and it was on the contrary of what I believed. I did not managed the risk at all on this trade, only after I was in, and it never came to my entry target. But as I thought it was going to came to my entry point, it seemed like a good idea to take the trade on the little downside until my entry point.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-01-20 10:32:37 | AAPL28 01 165 PUT | buy | $5.200 | long |
2022-01-20 10:37:34 | AAPL28 01 165 PUT | sell | $5.570 | 0 |
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