SPYSPXAAPLNVDATSLA Hi traders! I am excited to share that I am travelling to Honolulu - Hawaii on 10th April, and I am so happy to visit this island for the first time. I will stay in Honolulu for 6 days; any recommendation or suggestion on what activities I can do there? I am planning to visit some of the Buddhist, Hindu, and Christian temples during my first two days, and the rest of the days I will be doing hiking, ocean, and adventurous sports. I have developed an emotional connection with you all, so I thought of sharing it with you. Thank you, everyone, for connecting with me here and sharing your invaluable suggestions and recommendations. Your one idea/suggestion helped me a lot to further expand my career in trading. See you all tomorrow!
Option traded: 1.) Bought SPX 5630P at $1140— one lot. Sold at $630 and booked a loss of -$513.30 2.) Bought SPX 5680P at $1410—one lot. Sold at $3190 and booked a profit of $1776.50
Performance: Average because Guru didn't follow risk management as he put a large amount of money at risk. Kept SL on the first trade but removed it too early, which indicates Guru is suffering from emotional trading.
Emotions: 1.) High dopamine and over-excitement before booking profit. 2.) Guru removed SL when he saw that trade went against him.
Strong Point: 1.) Able to close the first trade early with a loss, which indicates that Guru took the first step of becoming hopeless in trading. 2.) Able to implement the EMA crossover strategy today. 3.) Able to judge the MM's play.
Weak Point: 1.) Guru took an early entry on his first trade when he saw sellers entering near the EMA200 on 15M-TF, and he didn't wait for the confirmation. 2.) Buying both options was reasonable and makes sense, but you should avoid buying expensive options if you have a small account.
Guidelines for the future: 1.) Always wait for the confirmation 2.) Whenever trading against the trend, always make sure to check for important phenomena such as MSS or change of character. 3.) Always put your entry where masses put their SL.
Thank you, everyone, and I am just $1100 away from reaching my target. I hope everyone did their best. How was your second day of challenge? Please share your P&L with all. See you all tomorrow!
SPYSPXAAPLTSLANVDA Good morning, traders! Day 2 of the #AprilChallenge ($500 to $5000).
Previous day quick summary: Lost $208 on the first trade and made $2110 on the second trade. The initial balance was $514 + $100 (to balance fees and taxes). The ending balance was $2724.
IMPORTANT NOTE: My account is larger than this amount, and I have some open positions simultaneously. I am only using an initial balance of $514 to complete this challenge. As of now, taxes and fees are not included in the initial balance or P&L.
04/02/2025
Initial balance : $2724
Capital to invest today: Not more than $600 for each trade and not more than $1000 all day today.
Maximum loss capacity: $500
Profit target/expectation : Anywhere between $600 and $800
Max. trade : Only two
Let's start the #AprilChallenge (drumroll). Share your progress below if have joined this challenge. Thank you!