My Daily Process for Trading SPY and TSLA Options
DAY GOALS & RULES
- Focus on Intraday System Pattern A.
- Pattern A: reaction zone cross-overs with confirmations for an RZ reject or bounce.
- (1) CONTRACT SIZE.
- BE PATIENT FOR ENTRIES AND EXITS.
- If a move is in favor, take partial or all profits to minimize risk.
- Patience will give me what I seek.
- BE MINDFUL.
- RELINQUISH.
- THE WHEN, WHY, AND HOW OF MY TRADING NEED TO CHANGE.
- It is a time-and-self game now.
REFLECTION
- I will continue my CBT formulation this week and exercise mindfulness with my trading.
- I am in awe of how much the self/psychology plays in everything.
- I knew the importance of it from the beginning, but learning how intertwined and far-reaching it really is.
PRE-MARKET PLANS
Market News
- We have no high-impact news today.
SPY
- For today, I have these levels marked:
- Reaction Zones:
- 413.50sh (yellow zone)- wait for the cross-over.
- 411.50ish (red zone)- Cross-over occurred. Wait for the retest for the possible rejection.
- 410.50ish (green zone)- Longer term cross-over now retesting. Wait for the retest for a potential bounce.
TSLA
- For today, I have these levels marked:
- Reaction Zones:
- 172ish (yellow zone)- Wait for the cross-over.
- 169.50ish (yellow zone)- Testing this zone right now. Wait for the cross-over.
- 165ish (green zone)- Cross-over occurred. Far away, so it could get here, but I like the RZ above; this one is better for a bounce.
RAW TRADING NOTES & COMMENTARY
- TSLA having a cross-over event now.
- Got in a decent spot, but it bounced more than expected...so fighting now.
- As expected, there was a fight...
- pathetic...I predict now that I sold, it will drop...minutes will confirm...lol
- SPY RZ bounce would have been better, but it can have a rejection too.
- Pathetic price action right now.
- Damn got a perfect entry on the reject...took my small gains...sold too soon...lol...never fails.
- Frustrated...Needed to operate in such a tight space and very much playing in the variability range here.... at least for the time I was in it...longer time frame might have been easier to hold...
- Correct with the direction, but how it developed was extremely choppy...
- I always fight the outcomes of the past, which results in internal decision variability. The internal decisions are where I fight it, but the past outcomes sway me in a specific direction. Therefore, I must focus on the inner struggle ONLY to change the outcome.
- Getting annoyed with the market environment right now.
- Whenever I am eager and ready for the market, the market exhibits odd or negating opportunities.
- In other words, providing an environment that takes a lot of effort to capture opportunity. Either it tests me on patience or my ability to control emotions while yielding minimal opportunities. Need to be aware of this circumstance so I can move on.
- Be mindful of the environment and RELINQUISH.
- Still might have some opportunities later, but I am no longer eager to trade today.
- SPY is definitely in between two RZs today.
- Need to be patient and wait for cross-over and retest.
- Thought about entering SPY 5/10 412 calls at 1.70 for the RZ cross-over/5min retest but held off since I need to pick up my son.
- I'll see how this performs in my absence.
POST REVIEW
- Took what was offered and was available for other opportunities but did not partake.
- Feels better lately, but still frustrating that the opportunities are not really there when I'm ready.
- Will see how tomorrow wants to unfold!
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