Shared by
probjhill
Went against my plan. My plan was to go long once we retested the pre-market low for a move upwards at 299.07 based of my QQQ pre-market analysis. I used QQQ to execute on AMD but wasn't too convinced on the price action to go long as we were closing in to the pre-market support. I then decided to take puts instead which was wrong because I was technically shorting the pre-market low which usually goes wrong which in this case it did again. I also didn't set a stop loss as I usually did as I didn't want to get forced out and see the continuation to the downside.
Highlights to overview for the week:
Do not short the low of the day as it then turns to a breakout trade which usually fails. Vice versa for going long at high of the day.
Do not size up yet. As well as Sizing up on same day expiry.
Practice following your initial.
Always set up stop or have a mental stop in place to prevent losers running longer than necessary.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-09-02 09:47:48 | 2 SEP 22 78 PUT | buy | $0.0900 | long |
| 2022-09-02 10:09:56 | 2 SEP 22 78 PUT | buy | $0.0500 | long |
| 2022-09-02 10:30:19 | 2 SEP 22 78 PUT | sell | $0.0100 | long |
| 2022-09-02 10:30:19 | 2 SEP 22 78 PUT | sell | $0.0100 | long |
| 2022-09-02 10:30:19 | 2 SEP 22 78 PUT | sell | $0.0100 | 0 |
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