I set up seven one-and-done's this morning. I've learned that they usually get filtered out, so it makes sense to set up several, and then only the best setups get traded.
Now I'm starting to believe that it makes sense to always set up for both long and short, because we've all seen gaps reverse. Why even try to predict the direction? We just want to go for a ride in the right direction.
This morning, nearly everything filtered out at 9:31. I did see a position filled in AAPL in the Tradier dashboard. The funny thing is that I thought I had entered AAPL calls. I opened ThinkorSwim on my phone to see what the chart was doing, and I saw it dropping. I was expecting the position to close for a loss at any moment, but it stayed there and even showed a small gain. I started to think something was wrong with the hotel wifi being way behind, and I started to think I needed to login on my phone really fast to prevent a large loss. Then I realized I was in puts. Whew!
What's ironic is that the DKNG trade plan that was terminated at 9:22:44 was terminated manually, because I had mistakenly set it up to go long. It might have made money long. I'm starting to think that choosing a direction on the open might be a mistake. If we just look for decent follow-through on decisive bars, that might be where the real edge is on the open. Trade Unafraid makes that really easy to do on multiple stocks at the same time.
Net result: $80 on AAPL short
Comments
Post a Comment