- Studied: OptionHub, Youtube (Francis Hunt)
- Updated: Activity Logs (Daily Weekly), Successes, Mistakes, Key Takeaways, Weekly Trade Journal, Solace Instagram
- Created: Beginnings of framework for focusing/planning Daily & Weekly Activity, Caduceus Scythe Charts
- Read: ‘The New Trading for a Living’
Overview: Abysmal performance, but was to be expected given trip to Denver, although I did not anticipate it would be this bad. This is painfully illuminating and suggests it would be wise to avoid the city at all costs, at least until I’ve mastered Caduceus and secured a significant helping of time. I went into the week with the goal of limiting focus to chipping away at the Option Hub course videos. I was able to make meaningful headway of which I’m proud. Other than this study, I was able to get up to date with Solace Instagram page updates, & website updates of subsidiary pages from trade journal (Successes, Mistakes, Key Takeaways). Overall I accomplished what I’d set out to do for this week, just not for as much time as I’d hoped.
Notable takeaways from study:
- Understood IV & how Vega works.
- Understood function of further out expirations & planning time horizon of trades.
- Understood entering prior to breakout strategy.
- Discovered Francis Hunt
Understood implied volatility in a meaningful way for the first time, and understood what the Greek Vega indicates in the option chain. If I understand correctly, the value of Vega represents the amount the option value will move per every 1 point move in the implied volatility. learned about call put ratios of entire market $CPC $CPCI $CPCE & how it can give insight to market sentiment.
Understood in a new way why expiration is an important factor. That for trades that are taking longer than 15 minutes it would be prudent to be trading a strike with a further out expiration. Further solidified insight that it is necessary to define time horizon (scalp, day trade, swing trade) of trade BEFORE entering.
Gained further clarity on tape reading & level 2, learned that Usman’s strategy for growing a small account is largely finding high probability breakout setups, getting in just before the breakout level and capitalizing immediately after a push in the anticipated direction.
Learned that Alicia is the true ‘Day Trader’ & is capitalizing on larger time frame moves intraday, likely with much further out expirations. Her skills as a technician seem to be incredibly refined, which was what I’d hoped to find when joining. Her page was my impetus to join begin with.
Activity Log | 6.28.2021 | Mon. | 2.53 hrs
- Updated: Activity Log
- Studied: OptionHub
Activity Log | 6.29.2021 | Tue. | 0 hrs
- No Solace Work
Activity Log | 6.30.2021 | Wed. | 0 hrs
- No Solace Work
Activity Log | 7.1.2021 | Thu. | 3.15 hrs
- Updated: Activity Log (Daily Weekly), Key Takeaways, Mistakes, Successes
- Read: ‘The New Trading for a Living’
Activity Log | 7.2.2021 | Fri. | 3.95 hrs
- Updated: Successes, Mistakes, Key Takeaways, Weekly Trade Journal, Solace Instagram.
- Created: Caduceus Scythe Charts
- Created: Beginnings of framework for focusing/planning Daily & Weekly Activity
Activity Log | 7.3.2021 | Sat. | 2.95 hrs
- Studied: OptionHub, Youtube (Francis Hunt)
Activity Log | 7.4.2021 | Sun. | 2.17 hrs
- Studied: OptionHub, Youtube (Francis Hunt)