Friday, March 31, 2023

red on a strong trend day

I didn't love any picks this morning, except MNST which I have been waiting for it to trade out of this base. I bought and added calls in the opening session (oval). They were monthlies, so they didn't move well and there was some strong 53.5 resistance that was all in premarket. The option did.not.move. And I closed it for flat. Anyway I never would have wanted to hold through that entire midday range. By the end of the day it popped to my target. 

My only regret is that meanwhile the market had a pretty amazing steady uptrend day and I missed it bc Friday. But I also don't regret having my day for other things and avoiding the 0dte mes. It might not have been a mess today? But either way. I had a lot of other things going on.




Thursday, March 30, 2023

partials, targets, and whether to hold

UBER spreads were too wide. UBER trade net 0 gain. To me, that's a good example of why taking partials matters. It lets me give the rest of the trade room. In this case, partial loss, then add back when it started working again. Then partial at target, and ultimately I gave it back. Without the target it would have been a big loser.

Ofc in retrospect I see a lot I could have done differently on UBER, including probably should have just passed on it in the first place. The spread was too big .15x.18. Didn't seem like much, 3 cents, but otoh, that's 20% just in the spread. For starters maybe I should have taken a different strike. Or, maybe the setup wasn't compelling enough in the first place to risk it at all.

On AI, taking the target did comfort me psychologically and helped me hold for a higher level. My T1 and T2 were still way above, but at the end I decided I just wasn't comfortable holding the risk anymore and dumped it.

Mom is having some heart stuff, went to the hospital last night for monitoring. BEH will be ok.

 

Yesterday - to hold or not to hold

These trades are both from yesterday/Wednesday. 

First MU. I didn't hold through the resistance level, though it sliced it easily and gave another amazing leg. 

Then COIN, I tried to hold through resistance, and it didn't push.

Maybe the primary difference: MU was a breakout on the daily. COIN had a certain break, but was also still in a certain range.

In other news, I'm trying to set up ThinkOrSwim to see if I can trade there. So far I hate it, just like the few other times I've tried to switch. Schwab bought TDA and I'm worried they're going to discontinue SSE. I'm trying not to get caught flat footed.



 

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