Trading Journal #42
08:44 am: “Futures green to start the day and week that will kickoff big 2-weeks of earnings, so manage risk wisely.
08:45 am: “Morning focus on first 5-15min to see if opening print holds on SPY IWM QQQ and squeezes back into Friday highs OR we go green to red into last week lows. Very volatile market, so take trades and don’t hold the bag for too long
Morning Trades: I started the morning fading the moves up with AAPL MSFT PUTs and by scalping several times IWM today expirat and locked all my gains before 11:25am and done for the day avoiding choppy action.
Loss review: I took a stop loss in one of the IWM shorts, but was able to get my money back and way more in the next IWM trade, so I’m happy with risk management.
Key Takeaways: Traders stay flexible and take trades. Last Thursday we saw a big day up, Friday a big day down and today basically in the middle of the range, so no man land and patience is required until the market resumes one way or the other.
Look Ahead: We are going into a big earnings season next 2 weeks, so be flexible and open minded for what may come next. Waiting on NFLX TSLA earnings to look for clues on what may come next, but manage risk wisely on a very volatile market.
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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