- Late Entry.
- Peewee Paper-hands. Did not Trust Levels. Employ Onyx stone.
- Peewee Paper-hands. Did not Trust Levels. Employ Onyx stone.
Overview: Overall did very well, but need to not be so trigger happy with exiting trades. I did do well to protect profits & mental capital, the one upside of Peewee paper-hands. There was more to be had and as conviction in my analysis continues to be bolstered & tolerance for fluctuations continues to develop, I will capture more of the gains to be had. Proud of this day.
Trade 1 Mistakes: I bought at the very top of the surge & suffered some slippage because of my moderate chasing. I also could have played the strike I had initially chosen which was closer to at the money, but I’m not yet comfortable with the fluctuations that come with more expensive contracts. I could have gotten in a bit earlier, right on the open above my first key level rather than hesitating, but hind sight is 20 20 & I was watching to see if demand would hold price above my level. I could have waited for a bit of a pullback before entering. Otherwise, there’s not much more I could have done, I nearly captured the top of the small move I was playing for. Had I decided this was a longer-term trade there would have been more to be capitalized on but my plan was to scalp and that’s what I executed on.
Trade 2 Mistakes: Did not give the trade time to work out. did not trust levels, Fear of fluctuations & paper hands. placing a protective stop instead of letting price action work out. Fear of losing paper gains.
Trade 3 Mistakes: I could have let the trade run a bit more & gave it more time to react to my next level, but I wanted to protect profits and walk away green for the day.