Tuesday, May 31, 2022

get what I get

No pressing today. I noticed I had been pressuring myself to hit a daily target. I was pressing too much and was starting to "hope". There shouldn't be any hope in my trading. Just like there shouldn't be despair. I should trade the now, what's in front of me, on valid patterns. Take my p/l targets. Trail my stops. Don't get too cute.

So today, a very clockwork day. The market was opening slightly down/inside Friday's strong up day. Relevant gappers up were gapping into resistance, and those mostly China names. No great gaps down.

First I shorted BABA on failing at resistance. Other China names in tandem. Didn't fill at target, so I yanked the partial it at the tightest stop. Tried BABA again with another setup, on a tight leash.

AAPL short, similar setup, failing at resistance. I hesitated at the best setup at 9:33 because there was a strong premarket level slightly below. Shorted the break of that level. No target, but I was able to move my stop down and that's where it ended.

SPY calls. 0DTE. Oh how I love this trade. I need to hesitate before taking this trade. Am I bottom/top fishing? I'm not good at that. I need a better setup. Today I was trying to catch the bottom. On the 1 min there was an igniting bar. I did wait for the pb and new pivot high after that, so I'm ok with the setup I took. But it failed at VWAP and I cut it. Although I spared myself riding to the new low, in retrospect (of course!) I should hesitate on that trade when below vwap.

Bottom line, nice green day. Very sane. Very clockwork. Done by 10:11. 






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