Day 1 : Building a Watchlist and explaining the strategy
Day 2 : $PLTR Trade Idea
Day 3: Buying $HOOD
Day 4: Up 5% on $HOOD
Day 5: Entered $UA Trade
Day 6: Trading In Puerto Rico
Day 7: Introducing Beacon
Day 8: S&P 500 Record Highs
Day 9: Robinhood Makes Moves Into Crypto
Day 10: Roaring Kitty Meows
Day 11: $GME Trade Idea
Day 12: $NIO Trade Entry
Day 13: Taking Profits In $HOOD
Day 14: Stopping Out Of $UA
Exiting $SYM
This is the journal entry for the trading day of 6/14
$SYM broke below $35.81, which was the low that was formed before the price broke below our entry level of interest (when we entered the trade). For those in Jay's coaching group, or that have been following along with the videos in this challenge, you know that means $35.81 is our stop loss.
I exited at $35.66. This is a small loss, however it could have been a smaller loss if I had set a Stop Loss order at $35.81, but I was greedy and wanted to see how the price reacted at that level before stopping out. For those who followed our $35.81 stop loss to the book, you got a better stop out price than I did.
For those like me who didn’t, time to put that in the notes! (For me I’m putting it in my TraderSync notes). Good thing is it only was around a $0.35 or so that I lost out on since I only had 1 1/2 shares, so overall not a huge deal, but still good to write down for my notes!! This is why we trade with small amounts of money when testing new strategies!! These learning moments are easier to manage when it's not with life-changing money.
Wins are still outweighing our losses overall due to our position size management. Going forward I will be following the Stop Loss rule Jay teaches in his coaching program.
Exiting ALL Positions
We also decided to exit our other positions too. We are going to reassess the charts and market next week. The current market is not looking favorable for the types of trades that we are in for holding over the weekend. We want to guarantee profits going into the weekend with the way the market is looking. Our account is still over $500 at $505.57.
TraderSync Updates
I am also using TraderSync to update my trades. You can check out my past blog going over how I am using TraderSync for these plays.
The only update I have is that I didn't follow my stop loss on $SYM.
