Trade Recap
On October 20th, 2022, I made three trades on AMD, Tesla, and the SPY. The first trade I took was on Tesla when the market started to trend lower after it had been up a little bit. I missed an opportunity to take a trade when the stock dipped back lower and maybe retested the low. If I had taken that trade, I probably would have had a green day or at least not a big red day because these trades worked out pretty decently. However, the trade that I did end up taking was at a second dotted line at the 211 level, and I held it for about three and a half minutes before getting out.
The second trade I took was on the SPY. I was looking for a quick break below the pre-market level, but it just continued to push sideways and eventually pushed higher. I held the position for way too long, and my emotions took over, especially because my first trade didn’t go the right way. It was basically just a psychology session with myself that morning in the market. I held the trade for almost 20 minutes and got out both contracts at 135 as it finally pushed above.
Overall, I missed a lot of opportunities, and I wasn’t mentally in the game as I should have been that day. The trades that I took were not the best trades that I could have taken, and I ended up with a red day. However, I learned that I need to be more patient with myself and not let my emotions take over in the market.
Would you have made these trades?
