Wednesday, March 4, 2015

Much better but not perfect

Today we got another signal but this time price challenged the 20 day moving average.    I have to admit I did a couple of things differently today.  First I did not buy at the close of the confirmation signal (the second green up arrow).  Instead I waited to see if we would challenge the 20 day moving average first and waited for the first green candle to enter the trade which served me well in hind sight getting a much better fill than if I had entered at the close of the confirmation candle two bars earlier.  The second thing I did was entered a conditional order to sell once we hit resistance at $210.24 taking out any emotion on the trade.  It served me well.  Since it was Wednesday I bought and sold the next weeks options.  Getting better but a loss is inevitable so lets see how I handle that when it happens.

BOUGHT 4 SPY Mar13'15 210.5 CALL @AMEX @ 1.22 
SOLD 4 SPY Mar13'15 210.5 CALL @AMEX @ 1.60 

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