Trading Journal #28
08:43 am: “Futures green to start the day as markets try again to bounce up and clear oversold conditions. Its end of month and quarter, so manage risk wisely
08:44 am: “Morning focus on opening print and see if stocks hold up and squeeze above yesterday highs or not. Semi’s have been laggards and heavy, so will be looking for clues if they finally bounce up or not. AAPL AMZN TSLA yesterday showed some relative strength, so will be on focus to see if we get a day 2 bounce or not.
Morning Trades: I started the day looking for a catch up on AMD so I took the calls but as momentum stalled I locked my gains and flipped into AMZN and TSLA shorts that made the cash flow on the day.
Losses review: I closed the first AMZN trade for a small loss, but a few minutes later, got back in at better prices and was able to get my money back and way more, so I’m happy.
Key Takeaways: When volatility high above 30, you pay attention and manage risk by taking trades and not holding the bags for too long, because the move can reverse hard anytime, specially on bear markets with high volatility and short gamma.
Look Ahead: Market is oversold, but as I’ve said, it can remain oversold for longer. Yesterday’s bounce up was great but today momentum stalled with yields skyrocketing. That’s why I shorted the highs on AMZN and TSLA for great cash flow. I will keep monitoring volatility and yields for clues on a possible bottom, but for now, we are still inside a bear market and downtrend with bounces being sold.
This trading journal is a log of all the options trades made. It is a tool that I use to track my progress and improve my trading strategies over time. I use this information to analyze my trading performance, identify patterns, and improve my decision-making processes. By keeping a trading journal, I can learn from my successes and mistakes, and make better trading decisions in the future. You can use other tools for journal as TraderSync , Tradervue or Excel
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