Experimenting with Friday strategy, which can boom or bust. I routinely play with fire, but I need to moderate the types of explosions that can happen on Fridays. Risk control is #1. Trading as if it will only go in my favor is a recipe for disaster, even if, when it does go for me it's incredibly lucrative.
Today I first tried next week expiration, which in this case is monthly options. Surprisingly there was no volume on the trades I was watching and what I took didn't ignite. So I adjusted course. Smaller positions with today's expiration. Scaling in so I don't eat a big loss.
Going small isn't new to me, but scaling IN is not my usual. This might be something interesting to experiment with on other days as well, so I can build some really big positions when it's working.
Closing the week +6%.
Trade of the day was RBLX. I had it both ways. One of my fatal flaws to work on is when something I'm watching for a long starts to fail, I take it short. NO! Just wait for the long to set up again.
