Well, my first attempt at trading (real money) WITH the sharks was a no go.. cost to play today was $49 (-$45 trade plus $4 fees). The sharks almost lost this one too.. it was super close (by the hairs).
It was a good show. I was only using 1 contract this time (and will continue that until I feel more confident), so I wasn't too worried or looking forward to that $45. (the profit/loss)
I'm not sure, at this early stage, if I prefer this fast win or lose trade, or the slower, more analytical strategy I was using. I suspect this quick win or lose fast method will work better during this unsure market, but the other method will work better during a trending market..
Anyway, let's see what happened today..
It sure looked like the BULLS were solidly in control. The hard part was waiting until AFTER the sharks feeding time of 9:30am. (30 minutes to end of market)
The BULL run looked strong, I definitely was going to trade UP today. I still feel like fridays almost always end on the UP, but that's why I get burned so often.. like today. :(
I ended waiting till 9:32 before I put in my trade order..
This trade was NOT meant to be, and it was over quickly. I take the small loss and better luck next time..
I can lose 10 such little 1x stop outs, or 1 BIG trade failure, where I YOLO the trade (no stop used), and the market just moves the wrong way. At this time of market, the wind can blow for a second and totally throw off a trade! Today, the bulls were barely able to hold the line. (meaning where the strike price was of my trade.. like IF I had NOT used a stop at all)