Monday, August 26, 2019

TSLA -9%

Daily setup: Gap up, but looking for a fade. Market gapping up, but so technically damaged from Friday that I don't think the gap up will be for upside.
Entry/play: waited for upside failure, then short via long put
Management: trailed stop. stopped out. 
Psychology: I came in today bummed about last week's wipeout. There were no good setups, or at least none of my standard setups. So I stabbed at this one with small size. Should have gone for a walk. 

Lesson: when it's not my setup, I shouldn't expect it to play out in my "usual" way. I am not an expert in this setup.



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