- Trading based on 1m instead of 5m
- Peewee Paperhands
- Did not consider overall market conditions
- Traded Illiquid Contract
- Did not protect 50% of profits
- Went against trend on larger time horizon
Overview: The bulk of these mistakes could have been avoided if I traded only with 5m chart. MUST eliminate 1m chart trading from repertoire. Also, be sure to note liquidity & behavior of contract you’re trading before committing to it, Consider having a side chart to copy paste option data into in real time to look at volume & liquidity of contract.
Mistakes | 8.24.2021 | Tuesday
- Did not consider overall market conditions
- Peewee Paperhands
- Trading based on 1m instead of 5m
- Traded Illiquid Contract
- Did not protect 50% of profits
- Went against trend on larger time horizon