Trading Journal
Day started red, giving a nice follow through continuation to our yesterday 2:30pm IWM short. Now we see the size of the pullback. First EMA is still lower but market pullbacks have been short-lived for 1-2 days and dips get bought quickly. Today we have FED minutes coming at 2pm and that can trigger the next move. Staying open minded is the best for now.
Morning Focus: I will be looking if the market holds yesterday lows and if we can have a scalp bounce but we have FED minutes at 2pm, so not looking to risk much. Looking for AAPL TSLA and Semis as indicators of strength and see if it goes below yesterday lows or holds up and bounce.
Our Trades: In the first minutes, I was looking for an oversold bounce so I scalped TSLA for the bounce but had to close as no follow through so I reversed short TSLA but that move was also short-lived so closed. Tried to short AAPL (it’s a freaking beast!!) and no luck.. 10-20% gains and that was it… closed and moved to other names. Until FED minutes at 2pm, I got pretty much chopped and should have sat on my hands. After FED minutes, saw an opportunity on the GLD TLT scalp but that was also short-lived. The best trade came after 3pm with IWM short for more than a double and that paid the day.
Losses review: I cut losses fast and that helped but got chopped on slow action before FED minutes at 2pm.
Key Takeaways: On FED days, avoid getting chopped. Do nothing until we get FED data.
Look Ahead: Market is overbought, but as I’ve been saying, it can remain overbought for longer. AAPL is a freaking beast and that thing just does not fade, so we will not have a bigger pullback until AAPL and the rest of tech crackdown, so for now we keep looking to buy dips and sell rips. We are still in long gamma, but most of that will expire this week, so following weeks can get volatile…
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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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