Ahoy there Trader! ⚓️
It’s Phil…
Sometimes, trading isn’t about big wins—it’s about dodging big losses. Friday’s 0-DTE trade had potential but didn’t play ball. Here’s how I avoided a loss with a mix of strategy and a little espresso martini-fueled quick thinking.
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Friday started with promise as SPX broke back into a previously established range. My bullish bias aligned with the setup, and I am expecting a move from range lows to highs.
- The Setup: A pulse bar early in the morning indicated a potential favourable move.
- The Plan: Use a 0-DTE entry for a quick trade from low to high of range.
- The Reality: After the initial move, price ground sideways, refusing to cooperate.
By mid-afternoon, it was clear more time was needed to let the trade idea play out. Enter: “the roll.”
What Went Wrong
While rolling the position to extend its lifespan, I fumbled with position sizing—blame a mobile interface and maybe a sip of espresso martini! This meant that even in the best-case scenario, breaking even was the goal.
The Result
Despite the hiccup, the trade closed at break-even. It’s not ideal, but it’s far better than taking a full loss.
Key Takeaways
- Flexibility is key: When markets don’t cooperate, adapt.
- Mistakes happen: Trading on mobile isn’t always ideal especially with “lubrication”.
- Focus on management: Avoiding losses is as important as locking in wins.
Fun Fact
The S&P 500 index doesn’t just represent large-cap U.S. companies—it accounts for about 80% of the total U.S. stock market value.
This means the SPX isn’t just an index; it’s the backbone of the U.S. market. It’s why traders and investors worldwide watch it like hawks, knowing it’s a key indicator of economic health.
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece