This week’s day trading was quite a roller-coaster ride for me. Starting the week with a comfortable profit of $2,800, my ventures throughout the week resulted in a net gain of $6,000. Out of a total of 33 trades made, 15 were wins, 6 broke even, and 12 unfortunately resulted in losses. Let’s dive into the details to extract the crucial learning points and possibly plan our strategy for the coming weeks.
Monday, June 12, 2023: +2,800
Monday started out a bit rocky with some premature entries in the morning on GOOG and NVDA leading to stop outs and a total loss of $2,000. A quick rise in PLTR didn’t reach my full target, leading to a break-even. The day picked up with positive trades in META, CCL, NVDA (the second trade), and ADBE, thanks to some good reversals and a strong breakout which led to a total win of $4,800.
Tuesday, June 13, 2023: +$6,000
Tuesday was the most fruitful day of the week with a total gain of $6,000, all wins. I made successful trades on PLUG, AAPL, DIS, PLTR, and TSM, all thanks to strong signals and a correct perception of the market overextensions. I’m particularly proud of my courageous entry into PLTR, despite the stock’s overall weakness.
Wednesday, June 14, 2023: +$1,800
Wednesday was a mixed bag with some wins, some break evens, and some losses. My total win was $4,800 from successful trades on PLUG, AFRM, TSLA, and MSFT, but a premature entry in the morning on NVDA and a few misguided estimates led to a total loss of $3,000. Some trades closed at break-even points like AMAT, AI, and another trade on NVDA.
Thursday, June 15, 2023: -$7,000
Thursday was a tough day in the market. Deviations from my system and acting against the trends led to seven losses and two break-even trades, leading to a total loss of $7,000. The loss taught me a vital lesson - adherence to my trading system is paramount.
Friday, June 16, 2023: +$2,400
Given Thursday’s losses, I approached Friday with caution. With the occurrence of the Triple Witching day, the markets were volatile. However, I managed to end the week on a high note with two successful trades on DIS and GOLD, netting a total win of $2,400.
In conclusion, this week served as a reminder that the market, much like life, is full of ups and downs. Despite some missteps, I ended the week with a respectable net gain. Every day presented me with opportunities to learn and grow as a trader. The losses from Thursday were particularly enlightening, reinforcing the necessity of adhering to my trading strategies. I’m looking forward to what next week will bring, and as always, I’ll keep you updated with daily posts. Until then, happy trading!