August 22nd, 2022
-9 call option trades
-2 put option trades
mistake: I did not follow the trend. I know the power of the market but for some reason decided to go for bounce plays in a backside move which is probably the stupidest shit you can do when trading large caps. I am fighting billions if not trillions of dollars that I cannot even see. It is idiotic to think that my r/r can be good enough to account for the amount of times I will lose on this trade. I just explained the importance of bet sizing in the last post and this is a D quality setup and has an extremely low win rate. I can either size up massively on better setups or just completely avoid these D setups altogether. Id much rather just avoid them altogether. I took 2 puts later in the day and made back like $50 from super quick scalps that were basically "fuck trading" scalps hahaha.
solution:Stop fighting the trend. That is main goal for tomorrow.
takeaways: Always identify and respect the trend of the market. Is there balance or trend? is the very first question you should ask yourself every single day.