Fineight

Playing It SAFE Is a Double-Edged Sword! - 05/18/20 RECAP

AMEX:SPY   SPDR S&P 500 ETF TRUST
Hi traders,

I am starting this week with breakeven after 3 trades. Funny enough I got the same result managing them as I'd get just setting the SL and PT and walking away. But watching closely the market, I was safer thorough the day with my adjustments (it's easier to judge in retrospect).

My Trades:
1) SYF - SHORT @17.74, originally a LONG idea turned to be a decent short, but got really lazy. -0.43%
2) MT - LONG @9.31, beautiful setup, didn't have enough strength to move over HOD. -0.15%
3) PENN - LONG @21.58, got out with first half at 1:1 and moved SL to BE seeing the market starting to fade. Turned out PENN was still strong enough. +0.53%


*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*

Total PnL for the day: -0.05%
Total PnL for the week: -0.05%


Good trades,
Tom | FINEIGHT