_outofthemoney's SPY Trade +$13.00
Trade Details
Performance Metrics
| Entry CPU | Exit CPU | Fees | Max Amount | Max Cost | P&L % | P&L $ |
|---|---|---|---|---|---|---|
| 197.00 | 210.00 | $0.00 | 1.0 | $197.00 | 6.60% | $13.00 |
Transactions
2 entries| Date | Side | Amount | Price | Commission | Reg Fee |
|---|---|---|---|---|---|
| Dec 15, 2022 10:12:34 | Entry | 1.0 | $197.00 | $0.00 | $0.00 |
| Dec 15, 2022 10:20:38 | Exit | 1.0 | $210.00 | $0.00 | $0.00 |
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Low of Day Tightening Support Accumulation + Anticipatory Break of Selling Channel + Out of Balance VWAP + SPY already down over 2% on the day + Strong Support off Eric's Levels
= Looking for a Bounce Play towards Equilibrium
Once I entered the trade I felt confident as my entry was good ($1.97). However as I saw it fail to break out, I sold for $2.10 to secure puny profits. Microscopic 1-4% gains with a small account is not going to give me the growth I need to change my life. It's better to let it play out and risk the small $X loss for the opportunity of catching the reveral and making 50% returns. I need to learn to be more comfortable with risk as it never hit my stop loss price so I never had a reason to sell. It ended up retesting Eric's pink 388 level one more time before breaking out and making the move that I was looking for. I also didn't give the trade enough time to fully play out, I was only in the trade for 8 min.
Lessons:
1) stick to the plan
2) be comfortable with the risk (it's just a game you're trying to beat)
3) big winning trades take time to come to fruition (30 min - 1 hour)
4) focus and concentrate when trading and establishing trade plans/scenarios
5) prioritze small risk / big reward setups