0.007654.37
1.018000.0
Total Profits:
-$605.84
-$3 Loss
SPYLong Option
marketmakers

This was a good trade, even though it was a cost. I cut my losses quickly, followed the price action in both higher timeframe and lower timeframe charts, EMA 3&8 showing bullishness in 5min, 3min and 1min charts. $SPY bounced up off POC in 1min & 3min charts, didn't play up @ h.o.d. and moving up toward POC in 5min chart. Overall, markets were red for the day, but trending up intraday. 4hr chart shows up trend. Considered this to be a turn up after a pullback.

000

Newsletters:TimChallenge
Broker:Schwab
$18 Profit
SPYLong Option
marketmakers

#2 After trade#1, $SPY continued down, but before playing down, needed confirmation. Put bullish & bearish levels on the chart for each direction potential entry points. $SPY closed below the bearish entry level. When pulled back up to potential retest level, entered. Trading below POC & VWAP, & EMA3&8 bearish on 1min, 3min & 5min charts. Knew my stop level & profit level. Good trade. Good entry. Took a while to develop, but did, leaving me green on the day. Did cont. down...

000

Newsletters:TimChallenge
Broker:Schwab
-$8 Loss
SPYLong Option
marketmakers

#1 Markets & FUT down @ open. $SPY came down from open, made l.o.d. & headed back up. Made new h.o.d. & closed above that level. Was trading above POC & VWAP & EMA3&8 bullish on 1min, 3min & 5min charts. Entered bullish as it pulled back to a potential retest level. $SPY did hold that level a little while, but when broke below, exited. Good trade. Good exit. Cut losses quickly. $SPY did continue down, leading to trade #2.

000

Newsletters:TimChallenge
Broker:Schwab
$23 Profit
SPYLong Option
marketmakers

#1 1min, 3min, 5min charts + VP, EMA 3&8 indicators. I 1st looked @ charts when $SPY coming up from making l.o.d. Trading below VP/POC line. Markets are red. I noticed EMA3&8 crossing bullish in 1min, 3min & 5min charts. Used VP/POC line & h.o.d. as target profit & close below the low of previous 5min candle as cost. Almost got stopped out but that level held & from there went up nicely to the VP/POC line & h.o.d. in 1min & 3min charts & I exited w/profit as it came into that level. FollowedPlan

000

Newsletters:TimChallenge
Broker:Schwab
$4 Profit
QQQLong Option
marketmakers

5min & 1min charts. Qs came down at open making l.o.d. Bounced nicely up to make new h.o.d. Pulled back from h.o.d. to the breakout/retest level, bounced up & once it broke structural high, entered. Switched to 1min chart to get a better view of when to exit. Went up nicely. Had profit target & stop criteria. Didn't hit profit target but when current candle broke below the low of the previous candle, exited for small profit. Great exit/plan because Qs dumped back down to l.o.d.

000

Newsletters:TimChallenge
Broker:Schwab
-$67 Loss
QQQLong Option
marketmakers

4hr chart. Qs slowly turning over @ a resistance level & broke & closed below a structural low. Profit target was a support level & an up trending line. I was anticipating a bounce off that up trend line & continue the move up. Qs didn't reach those targets during the trading hours, but did in after hours & pre-market trading. By the time markets opened the next day, Qs already made that bounce up never to return (except on March 5) & making new all-time highs. Unfortunate.

000

Newsletters:TimChallenge
Broker:Schwab
-$47 Loss
QQQLong Option
marketmakers

#2 4hr & 5min charts. Since Qs were breaking & closing above a significant resistance level, I changed hats from bearish in trade #1 to bullish. It didn't follow through & soon came down. I did break a major rule of mine to not go long @ the h.o.d. It came down to, & broke below, a major bearish signal support level, so I exited the trade. Overall, not a great trade. Big picture is bearish in a pull back. Could have stayed in trade #1.

000

Newsletters:TimChallenge
Broker:Schwab
-$39 Loss
QQQLong Option
marketmakers

#1 4hr & 5min charts. Qs came down into the open & big picture shows a pullback could be taking place within an uptrend. Bounced up off l.o.d. & went up to a good resistance level. Entered as Qs turned over after nice doji. Did come down a little but then turned back up starting an intraday up trend. When reached a significant resistance level & closed above, exited as planned. Qs didn't continue up, however, & came back down. Overall, good trade in right direction.

000

Newsletters:TimChallenge
Broker:Schwab
-$28 Loss
SPYLong Option
marketmakers

#2 5min & 1min charts. Tried $SPY in the bullish direction again. After trade #1, $SPY did turn back up. I entered as it bounced up off an upward trend line & broke through resistance. $SPY broke higher nicely right up to a prior intraday resistance. I could have made a profit & reduced my losses from trade #1, but I held, hoping it would break that resistance. It didn't but instead moved down & continued down. Once it broke below a very solid support, I exited. Entry good, exit very poor.

000

Newsletters:TimChallenge
Broker:Schwab
-$15 Loss
SPYLong Option
marketmakers

#1 5min & 1min chart. $SPY up @ open & then came down quite a bit making l.o.d. As it bounced up I entered as it broke above a structural high. It came down soon after entry & I exited as it broke below a structural low. OK trade. As I think back on the day & price action, not sure if playing up was the high probability direction.

000

Newsletters:TimChallenge
Broker:Schwab
Page
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