August 16, 2023 (2 Trades) (-$17.00)
Overall Grade: B-
DAILY - SPY
5 MIN - EOD
TRADES
Trade 1 - Long 2 calls @ VWAP / PM Line
Grade: B-
- following intraday trend - good
- entry - not so good - I was buying with no proven support to the left - just hoping VWAP and/or PM Line would hold
- stop was a close below the red line (I drew that line just before enetering the trade as my stop)
- ^^ didn't follow stop thoo lol and I ended up stoping the bottom, but not upset because i knew I needed to get out because it could have been worse
- I took the falling knife entry which is usually dangerous, better in this situation to wait for a bottom to risk off if I want to play it before the trend break
- Overal', right idea wrong timing on this trade
FIX: Don't take the falling knife entry
(Trade 1 result below)
Trade 2 - Long 1 Call @ PM Line Close & Pullback
Grade: B-
- sketchier trade here because of the morning range
- played calls though because of open move into range
- waited for close above PM line and pullback to previous support
- entry was good
- good job using half size, sketchy in the middle of the range
- decently held the winner but target (blue line) would have hit on the following candle
FIX: Hold to target