Okay guys, great potential out there today, unfortunately I completely butchered the day. Bad decisions paired with a little bad luck. Went from green to red on the week, never the ideal way to end on a Friday.
Side note, I’m going to remove the confirmed by my strategy portion of this, simply because it doesn’t add any benefit to this trial, and it can get slightly confusing explaining why or why I didn’t take a trade at a certain point.
Lastly, due to the struggle I’ve had taking positions through 3 weeks of this trial, I’m going to get a little more aggressive, so you can expect me to use all the cash available in my test account each day. I did this today, unfortunately it worked out awfully, but that’s just how days can go sometimes.
All in all, 4 sell alerts and 3 buy alerts (note there are actually 9, but the last 2 were omitted as there was less than 20 minutes left in the day, as per my rules):
$2995 Puts: $3.2-3.3 (3.1%): I took this position, I grabbed 2 puts at $3.3, and since I wasn’t actively watching, I put a $1.6 trailing stop loss because I figured it was highly unlikely for it to drop that far, that was a big mistake. The next candle spiked up a bit and my position executed at the low of day (at $1.7) for a $333.98 loss. Within 10 minutes of that, those puts hit $4.20. Extremely frustrating and a fair amount unlucky, (especially considering this was the biggest position I had taken during this trial). Long story short, you should always be watching, I never would have sold on the quick spike, and it cost me.
$3000 Calls: $3.85-3.35 (-13%): I also took this position, which was really the only awful entry decision I made today. Not really a good spot to be buying calls, but I bought 3 at $3.6. Luckily I was smart enough to almost immediately exit at $3.4 for a $75.98 loss.
$2995 Puts: $2.55-5.05 (98%)
$3000 Calls: $2.35-2.4 (2.1%): I only had enough available cash for one more entry today, so I took this one at $2.3, and sold at 2.2 right before it popped.
$2995 Puts: $2-2.725 (36.3%)
$3000 Calls: $1.1-1.15 (4.5%)
$2990 Puts: $2.1-8.05 (283.3%)
Long story short from today: there were 7 alerts and I took the worst 3. On days where it looks like it has a trending direction, it’s best to stick with that direction. Considering how well Market God performed statistically today, there is no excuse for my errors. To lose money on puts on a day that dropped 1% from open is just horrendous execution. But, today is over and so now we look forward to next week.
Summary 7/19/2019 (Total 10 days):
Total Market God Buy Alerts: 3 (26)
Total Market God Sell Alerts: 4 (28)
Total all alerts: 7 (54)
Buy alert average hypothetical profit: -2.1% (37.8%)
Sell alert average hypothetical profit: 105.2% (41.6%)
All alerts hypothetical profit: 59.2% (39.8%)
Buy alert average real profit for day: -$97.96
Sell alert average real profit for day: -$333.98
Trades taken: 3 (7)
Total Profit: -$431.94 ($156.14)
Account Value: $1,656.14
If you haven’t seen the rest of the blogs, feel free to check out each, linked below.