I have neglected to keep the daily blogs updated the last few weeks. I got a kick in the junk with the feud between Musk/Trump. With work I couldn't effectively manage day trades so I got into positions on both NVDA and TSLA anticipating continued weekly gains. Literally the day the feud started an hour after entry. It blew through my stop losses and didn't see it till after work and the market was closed. I held it the next morning hoping for some big recovery and it never happened, or at least happened enough to matter as they were so far out of the money by now it needed a miracle. This lost the challange over 80% of the account.
It was back to square one and a $30 challenge now lol. I knew my $5-$8 out of the money positions where too far out to help, I just wasn't ready to YOLO and risk the account on 1 trade when my setups were solid but not confident.
Eventually realizing that it's what needed to happen with Theta and the IV just killing these positions since they were more a grind up instead of big rapid moves I eventually took positions closer to the money and started to tread water and make gains.
I had a few days where I had back to back trades that I didn't manage well, or just waited too long to enter and took some days off from trading in between.
I did have 1 trade on my non challenge account on $KLTO it was something I'm working on with trading everything not just focusing on options as the account grows and having size to effectively trade penny stocks. It was a trade I needed to "get back on the horse" again and remember my recognizing the trade is spot on, its the management that has killed us. Pre market top % gainer. Saw the levels and the breaks to enter and exit. I got out way early but glad I took profits and didn't try to hold on trying to catch the exact top.
This led to me trading the rest of the week strong on the challenge account and made it back to around $100 going into a new week. Here's to better management and focus on the challenge and the sole purpose to be a disciplined trader.
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