PRE-TRADE
Premarket plan: After a breakout on pre-market on the $169.50 key level, I'd wait for a pullback to this same level to take my entry with a Call Option, with a stop-loss at the
-61.8% Fibonacci level ($166.50) breakdown, and a take-profit at the $175.50 level. I would take another entry on a pullback to the 22EMA on the 4H time frame.
Projected R:R Ratio: 1:2
Stop-loss: $166.50
Entry level: $169.50
Take profit level: $175.50
Second entry: 22EMA on 4H time frame
Trail-stop: 22EMA on 4H time frame
AFTER TRADE
Actual R:R Ratio: 3:2
Stop-loss: $166.50 (Non-taken)
Entry level: $169.50
Take profit level: $171.35
Second entry: None.
Trail-stop: None.
Plan respected? No.
What did I do different from my premarket plan? I did not wait for my exit plan.
If I did not followed my plan, what could've or should've I done differently on this trade? I should have waited for my exit plan.
Comments: As my option contract was with a very close due date (next week), I decided to close this trade to avoid any drawdown if the stock dropped down on Monday.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-08-11 13:06:16 | AAPL19 08 175 CALL | buy | $0.3700 | long |
2022-08-12 14:06:22 | AAPL19 08 175 CALL | sell | $0.5800 | 0 |
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