Thestrat
CMCSA- The STRATHaven't been trading a lot due to time. And I have noticed that Fridays aren't a good trading day to me. I think I say to myself "look at all these cheap options!" then get a taste of why they are so. So today is Tight Stop Friday.
Here is one trade I'm currently in. 15 min, Chicago. Was looking for it to go short, hesitated, but glad I got in. Didn't like the option spread on this one but it worked out.
Also took a trade in SNAP.
TWTR- The Strat (screw-up)I'm sitting here asking myself "how did I miss it!!?" Took a loss on my CALLS in TWTR today and now look at it.
Hopefully others, as well as myself, will learn from this one. Each shaded box represents an hour of the day.
So my entry was based on the 15 min chart. Lost confidence on the pull back and jumped out.
What I should have realized was it was still an inside hour and we were just "dancing around" before the formation of a directional 2 bar, the 3rd hour. The break of the inside 15 became the trigger for the hourly entry. Other Stratters may also call this a Rev Strat.
Also time continuity was working with me.
This was a reminder to myself don't get cocky.