July 20, 2023 (1 Trade) (+$15.00)

Overall Grade: B

 

DAILY - SPY

5 MIN - SPY

                                            TRADES

Trade 1 - Long 2 Calls @ Support + Key Levels (VWAP + PM Line) + Trendline

Grade: B

  • entry at support - good
  • following the trend - good
  • longs were getting a bit sketchier today after previous 2 bullish days, that's why I scalped this trade
  • took this trade without a proper target so I closed immediately
  • stop was a close below the trendline but that could have gotten ugly quick and flushed to Yesterday's Low

FIX: Take trades with a pre-determined target or you don't really know your R

 

TAKEAWAYS: Following the trend really just makes it so much easier to win