Not a great start, rolled out of bed still sleeping, placed some bad trades.
PLTR : The mistake here was not looking at levels more carefully and following FOMO.
The level was neatly tucked away as LOD on march 13 just 2 weeks ago. I normally see this, when awake. Would have been a perfect entry.
AAPL : I thought 255.95 was the level it was going to F.B against, but it didn't. And I should follow (new rule) to get out once it goes sideways where it should have reversed.
Here is the mess... especially bad on re-entry where scenario was no longer the same (its not a F.B why are you entering?!).
META: First entry got stopped... maybe I should tread these kind of setups (old historic gap level) as bounce? Basically enter just above the level... never too far above. And stop is then placed just below the level... not above either.
Also I am not super clear on how much I should weigh SPY into this... but this looks like a bearish trend...
So perhaps I should keep that in mind and know that LONG F.Bs wont be clean? I.E they will go sideways, or will test even lower before proceeding into reversal.
I had this thought the other day, to only go for F.B setups that almost look like will be out of reach... I think that might reduce my overall number of trades (and losses) and yield mostly just great entries. Like PLTR could have been today...
With that I exited META just now, early... its no longer and F.B setup.
ORCL: another failed trade... maybe today is a day you short. These F.B. reversals are just not reversing. Also this entry is a bit sub-optimal as its not approached with gall0pping candle setup... it was snuck up to. (usually a breakout/continuation) setup.
So new rules from todays rather horrible trading day:
When oil spikes on geopolitical grounds - only enter shorts.
After 3 failing trades in single direction: only trade in opposite direction for the rest of the day.
NFLX was the trade today:
