September 6, 2022 Day Trades 3/4
Back at it again today after the Labor Day holiday, here at GrizzlyCreekPublishing.com. Made two trades. First one was actually made before my trade signals were clear, and I pulled the trigger a bit too early, should have waited, or just closed it when I realized it was too early, but I let my emotions rule the day, and kept the trade going. So I bought 5 SPY calls at 9:50am, (9/9 391 calls), at the price of $4.78 each. As mentioned above, should of closed out for a loss of $1 or so, but kept them, and after the momentum swung back positive, should of sold when they were worth over $5.50, but sold them nonetheless at $5.32 for a profit of $270 for all 5 SPY options (First two green arrows on price chart).
In the afternoon, saw another small upswing at 1:30pm and bought 5 SPY 9/9 389 Calls at $4.69 each. Didn’t like the chart potential in less than 15 minutes and sold them at the market price of $4.88 for a whopping profit of $95 on this trade. For the day, total value of the test account has now reached $6172.98 which is a gain of $944 since I started this test less than a week ago, a nice 18% gain on my principal amount. Can we keep it up? Time will tell.
Here is the daily SPY chart which shows the trade 3 (green stars), and trade 4 (blue stars)
I guess that is all for today, except to tell you about another link of Toni Turner’s books, this one is another I have read and is about short term trading. Enjoy!