3/5/2021 – Retrospective

Dropping another green day report. I’m a bit late writing this as I was super tied up with meetings and getting some code submitted before I had a a presentation for our CIO at my day job. Though I’m not writing this the day of I still think that it’s important for me to just get out my thoughts as I’ve come to realize that while this recap serves as an outlet for my thought process and emotional aspects, it also serves as method of accountability.

When I’m writing about my trades and what I’m thinking I’ve found that it forces me to REALLLLLLY dig deep and apply the issues to the next day. Since my goal is to improve and push to the next “level”, I think that it is important that I keep with this process.

Now, coming into the day I had a feeling that things could get a bit interesting off the open since we had some recovery on Thursday, so my goal was to try and take advantage of this with some early morning weakness. I wasn’t sure if I would be around (again due to meetings and normal work) for the bounce, so the goal was to to capitalize on the weakness that I felt would be there. For the most part I was able to do that, but as usual I was taking profits a bit to early in spots on the ones that were working well.

A big takeaway is that my exits on these moves in my favor need some serious work. Sure I made money, but in hindsight I would’ve 4x’d my day had I stuck to my exit criteria. This small adjustment can DRAMATICALLY change account value over time, so I don’t want to undersell how large of an issue this is for me to clean up. This is something that I need to address….no excuses.

Took a different angle today and played some UVXY to play against the overall market. I figured a dip and pop would happen at some point, so I tried it a few times, but overall I was just early to the game. Given that I was expecting the dip off the open I really should’ve been longing here. I was green on the name, but given my strategy I should’ve been long first, then short on the SPY pops.

Man what a MISS. I was eying that 7.57 level all morning, but my platform was lagging something SERIOUS. I missed the 7.57 pop and then I was ready to go back in at 6.73 level after I covered when it felt it was going to push, but again lag was a serious issue and I could only get some on chase size down into the key support level. Given that my platform was acting janky I didn’t want to risk anything, so I just left it alone. Definitely had the right idea, but man what a miss.

Travel sector was a nice setup again and again I covered too early given my exit criteria, but the lagging platform was really something else. I left a bunch on the table here and well…nothing really more to say than I should’ve played it better. On the plus side you can see that I waited for some confirmation before trying some more. Happy with my entries and patience, however Not happy with my exits. I should’ve been adding on the pops and would’ve been able to really maximize on the low 25 covers.

NCLH same story as CCL. The lagging platform really was just making me uncomfortable, so I just worked the move and when it felt like support was coming in, I cut it out, however I SHOULD have stuck to my exit criteria to maximize this trade. Happy with the read, but the exits need a TON of work here.