052022
market open a bit higher today
then shot back down very quickly
already 70 points range
TRADE#1
got in a call
saw strength
rejecting pm high
we held the level 392
very choppy area
we currently have no buyers in this market
should have exited my trade
creating a bearish engulfing pattern there
trade not working out
removed my stop loss thinking it would work
try to give stock room to make a move happen
but reality is some plays arent worth the risk if they are taking too long
we seem to be holding 372.95
the pins of these candles are telling me buyers are present but not sure yet
forming a symetrical wedge pattern here
5min chart
vix at a critical level going red
ok we wound up breaking down
2 notes we didnt break HOD and we didnt even get to pre market high
should have stayed on sidelines
bear market right now
got out for a big loss
TRADE#2
i saw we broke $388 level and got in for a quick scalp
this trade was pretty solid.
9ema and vwap were above.
Trade#3
i waited for a consolidation and then i saw another breakdown
got in for a quick scalp as well.
market kept selling off
today is a buy every pop to the downside
today was very wild
i defintely traded way too much
but i was able to bounce back from being down big
we had a squeeze at the end of the day which caused
the market to rally
made sense since we sold off so much
we needed some relief
i took trades based on the price action
i saw we kept selling off and levels kept breaking down
demand zones were invalidated today
NEED TO STICK TO MY STOP LOSSES AND RE-ENTER.
TAKING A SMALL LOSS AND THEN RE-ENTERING WITH THE RIGHT DIRECTION IS ALWAYS BEST.
INSTEAD OF HOLDING ONTO A LOSING TRADE.
I AM FEELING THE BURN MORE AND MORE WHEN I DONT FOLLOW MY RULES.
I KEEP REMOVING THE STOP TO GIVE THE STOCK ROOM TO DEVELOP THE TRADE IDEA BUT ITS BEST TO FOLLOW MY PLAN AND LEVELS.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-05-20 09:43:10 | 20 MAY 22 393 CALL | buy | $2.850 | long |
2022-05-20 10:52:35 | 20 MAY 22 393 CALL | sell | $0.5400 | 0 |
2022-05-20 10:56:00 | 20 MAY 22 388 PUT | buy | $1.880 | long |
2022-05-20 10:59:10 | 20 MAY 22 388 PUT | sell | $2.190 | 0 |
2022-05-20 11:07:06 | 20 MAY 22 388 PUT | buy | $2.600 | long |
2022-05-20 11:11:13 | 20 MAY 22 388 PUT | sell | $3.040 | 0 |
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