Trade Recap
I am reviewing my trades from Thursday, October 13, 2022. The market tanked due to inflation numbers before the opening bell, with the Dow down by about 500 points, while the NASDAQ was down by 200 or so points. I then show the pre-market section of AMD, the Q’s, the SPY, and Tesla, displaying two-minute charts on the top and five-minute charts on the bottom. Everything was trending lower in the light grey area, but I only took one trade, which was on AMD.
I anticipated AMD to push lower after the market opened down 500. I drew a line looking for a possible short to take a put at the 54.67 level. There were not many obvious setups, and although someone would have gone long, that was not my thinking. I was looking for everything to reverse, and I believe that my bias played into having a big red day. I show that I took four contracts on AMD, which helped to make the lows bigger, getting in at 10:34:04.
Reflecting on the trades I took, I show both of them at the same time. There were not any clear, obvious short setups, and there could have been a possible short earlier on. The Dow went through a massive swing from being down 500 points to being up by 800 points. While catching every move is impossible, I believe that this could have been a great day, week, or month if one had caught all of it.
Would you have made these same trades?
