Day Trading Journal

Today, SPY opened mid-range from the previous day's 1-hour price action. A reaction zone around 589 existed from the prior day, which was also confirmed with a pre-market reaction zone. This was my ideal watch for a reaction zone break to the upside. On the downside, I watched the previous day's close and a pre-market reaction zone around the 586.50-586.00 range. The price confirmed a 586.50 zone. I anticipated too early, and as soon as I entered, the price reversed completely, messing up my risk management (green circle). I gave it room to breathe and had a few chances to cut losses below my -10% plan, but I did not. There is no way around this. I failed to manage my losses and paid the price. To add to my mistake further, I thought, since price won't break and price action seems strong, why not buy and ride it back up to the upper reaction zone. So I got in one more time as price was peaking above VWAP, only for it to chop a little above and fall back below VWAP (blue ci...

The market opened up near the close of yesterday's price action. Yesterday's reaction zone around 582.50 and the previous day's close around 582.80 were key areas to watch. In addition, the hourly 585.00 reaction zone was a key zone to watch for an intra-day reaction. I was ready for the break of 585.00, but my order never filled at 2.60 (red circle). I remained patient and waited for the opportunity for the re-test/pullback. More candles went by, and nothing but more strength.  I felt the urge to chase , but left it alone and dissipated the urge.  I focused on price action and waited for any opportunity on a pullback. I marked the high, and we started to come down. I added the 20 EMA on my chart and waited for an entry. Ideally, I would have liked a re-test of 585, but price action was not volatile enough today. I waited for green to take out red near the 20 EMA, my entry signal (green circle). I was able to modify my trailing stop, but we already started to come down, so...

Today marks a positive result of the current Trade War with China. U.S. stocks surged after a 90-day U.S.-China tariff pause slashed tariffs on Chinese goods from 145% to 30% and U.S. goods from 125% to 10%, boosting the SPY around 3% this morning. With such a big move in the markets, it will take patience to wait for a solid trade. Depending on price action, we can either pull back and continue the strength upwards, pull back and find support, or continue sideways and consolidate today. It is unlikely we will just spike and come right back down to the previous session's price. These days, it is paramount to remain  unbiased  and wait for price action to  reveal  what it wants . Today, we had a nice pre-market reaction zone around the 580.50 area that confirmed on the 2-minute with two touches. This was my ideal play for a continuation play. However, we did not get the momentum or acceleration needed for the breakout. We needed to hold above VWAP and have more buyers...

  Click for trade breakdown on 𝕏. 🟢Options Trading $SPY [-16% +18%] 11/20/24 #DayTrading #OptionsTrading pic.twitter.com/cFyYYMV88I — Helixtrader36 (@helixtrader36) November 20, 2024

  Click for trade breakdown on 𝕏 🟢Options Trading $SPY [-19% +1% +21%] 11/19/24 #DayTrading #OptionsTrading pic.twitter.com/6JbEDJFSq3 — Helixtrader36 (@helixtrader36) November 19, 2024

  SPY 1-minute chart 11/18/24. Day Metrics { 1 } Win { 0 } Losses Day Rating: INEFFECTIVE Overview There was no significant economic news released today that could have the potential to move the market. Following yesterday's sell-off, SPY's price is bouncing off the lows. We formed some intra-day reaction zones, but the price action is a slow grind upwards. Trades [1]   RZ Reject Entry:  I missed the opportunity to get in on the grind upwards, so I remained highly patient for either a pullback or a reject entry. I waited and was able to get into an entry at the upper reaction zone. Exit: Price continued to want to grind up, so I managed to lock in some gains before the price continued upwards. 🎥 Trading Session Recording 🎥 on  𝕏 -or- Review/Next Steps I completely missed the entry for a RZ bounce or the (-) TL Breakout Bounce. I was too slow to adapt my thinking. I waited patiently for the lower (-) TL Breakout Bounce/ VWAP Re-test, but that never came, so I ...

Introduction to Day Trading Systems Seconds can mean the difference between profit and loss in day trading, especially when trading options. This makes the need for a structured approach or system not just advisable but critical. In this post, I explore why a trading system is indispensable for day trading success and how trading psychology plays a pivotal role in its efficacy. The Foundation of Consistency Systematic Decision Making Trading without a system is akin to navigating a ship in the open sea without a compass. A trading system provides a consistent framework for decision-making. It outlines clear criteria for when to enter or exit trades based on objective metrics rather than subjective feelings. This reduces the chaotic decision-making under pressure, leading to more predictable and repeatable outcomes. For example, a system might specify that a trader enters a long position when a stock breaks above its 50-day moving average on high volume and exits when it falls below a ...

Introduction Many focus on strategies, market analysis, and technology in the high-stakes, fast-paced world of day trading, where a decent amount of money can be made or lost within minutes.  However, there's an often-underestimated factor that significantly influences success: mindset .   Today, let's explore why mindset is not just an accessory but a fundamental pillar of any successful day trader. Emotional Regulation Day trading is emotionally taxing. The market's volatility can stir emotions such as fear, greed, excitement, frustration, and disappointment. Discipline Over Emotion: A trader with the proper mindset practices discipline over emotional reactions. Decisions should not be driven by momentary highs or lows but by a strategic approach. Stress Management: The ability to stay calm under pressure is paramount. A mindset geared towards resilience helps traders manage stress, reducing the likelihood of panic selling or impulsive buying. Risk Management Risk manag...

Introduction Choosing the right broker for options trading, especially for day trading, can significantly impact your trading experience and success. Here, I compare Robinhood and Fidelity, two prominent players in the brokerage world, focusing on their options trading capabilities, user experience, and which might best serve day traders. I have used both and am currently utilizing Robinhood's new day trading platform. Trading Platforms ROBINHOOD: Platform: Robinhood offers a streamlined, user-friendly mobile app with a straightforward interface designed for simplicity. The desktop (website) version is less comprehensive but still functional. However, Robinhood's newly released online trading platform (October 2024), Robinhood Legend, targets active traders with advanced charting tools, real-time data, and customizable layouts. Options Trading Features: Commission-Free Trading: Robinhood made headlines with its commission-free trades, which include options. Options Chains: Use...