Hello everyone ! Welcome back to the challenge account. Took last week off the account , with the extra volatility , i wanted to play the shot side so waited it out to start again this week.
The rules will be the same as the last account , but will try to stay more limited this time -
- without breaking GFV's
- keeping commissions lower
- trading less not more , whenever possible
- playing the further out contracts
- last challenge 9 days growth :
1269.53 ----> 2002.74 (+58%) , and then account was locked
-but i did have a large drawback to end that challenge , being down 1k on the last day. Let's stay more consistent this time around.
Other rules can be found here : https://www.truetradellc.com/post/challenge-day-1-9-7
I won't be doing an in-depth recap off DAY 1 , But will go over DAY 2.
** THIS IS NOT FINANCIAL ADVICE**
**ALL TIMES BASED ON PST**
New start Value : $1327.44
Close : $1366.75
OPEN : 1366.75
CLOSE : 2118.59
CHART KEY :
GREEN CIRCLE = ENTRY
RED CIRCLE = EXIT
BLUE TEXT (any other color text) = WHAT I DID
ORANGE TEXT = OTHER TRADE POSSIBILITIES
Pre-open gameplan heavily favored short side trades for the day
Had a few shorts on watch , but personally i just played continuation trades on NVDA and SPY , those were the only 2 i traded today.
TRADE 1: SPY
Key levels charted on the daily chart , highlighting overall trend , and what we were looking for off the open. Wanted to stay short on gap down , as wellers had taken control overnight.
Pretty simple breakdown , and easy to follow , all trades this time around revolved on the key daily levels. SPY chart is a little messed up time wise because TD AMERITRADE was having issue updating the price , why you see some missing times and gaps.
SATISFACTION : 5/5
- Satisfied with every single trade taken here , appropriate risks in place , followed morning play , and continued to take what SPY was giving me , which were multiple short side entries.
TRADE 2: NVDA
Pinpoints key levels as well and why we were short biased off the open.
This one was a pretty simple chart as well , under key levels , utilized the daily levels thru the day as entries and targets. Could've also played long side at support , but kept with trend of day and netted nice gains :).
SATISFACTION : 5/5
Not much to say, followed plan , executed to perfection. No impulse trades, or no extra size relative to account. Followed game plan and happy.
OVERALL: Many times through the day i did think of playing some same weeks, primarily on SPY. I definitely could've done so with the easier setups , and probably would've netted some extra profit. But I had a goal going into this challenge , to stay light with same week, to avoid the higher commissions. So even though i saw the setups , i followed my plan , and didn't break my rules.
Ready for some more , and this time , no big drawbacks 😯
IF YOUR INTERESTED IN FOLLOWING ALONG WITH OUR SMALL ACCOUNT CHALLENGE LIVE , FIRST WEEK IS 100% FREE , HIT THE LINK BELOW TO JOIN NOW WITH THE FREE TRIAL;
@ https://www.truetradellc.com/stock-signals-membership or contact our IG @ (Truetrade_llc)
If you haven't already check our our free watchlist this week : https://www.truetradellc.com/post/market-watchlist-9-7-9-10 , already had some nice bangers 🔥🔥🔥
Have a wonderful rest of your day everyone, drop any questions down below !