Evening readers! Today was a bit rough due to having court. Challenge started off well but ended up a bust. All in all we had the right idea and plan only thing was sticking to it.
Started with $500 today for the challenge and if I stuck to strategy it would’ve been between a 10-50k day and below I explain the day in and out.
The Open:
My first thoughts was this is a head fake just luring shorts into a clean bear trap. So I didn’t jump quickly I waited.
9:37am (Riding the bus 10mins until arrival) First trade 1 contract 2580p in at 1. here price kept seesawing. So I told myself to wait because usually ill close out for 5-10% gain which isn’t much on 1 contract so I held. Price hit 1.25 high so here I started watching calls based off Fib screenshot below.
10:02am (still on train) Bought 1 contract 2700c at 1 to hedge my puts.
10:32am. Added to my puts added 3 cons at .55 to average down
10:42am. (just arrived at court) added 2 more cons to my calls.
Here was were I messed up. I meant to close my puts when they reached .90. By this Tim when puts were valued at .90 calls where trading at .20 ask which would’ve allowed me to buy $300 worth of calls which would now make a total of 18 contracts. valued at .24 per contract. Distractions Distraction. Sitting there and watching it play out target was at least 500% from that bottom. Instead while I walk to elevator price is jumping so now my 3 cons are trading at 1.80 each which then my team alerted me when 2 was on the bid but by the time I got notice it went back down.
12:59pm. Opportunity missed. 2.20 high then races back down to .15
2:12pm: Price is now hit .65 then came down to .05
3:45pm. Price hits high .60 which is 1000% from the lows of these calls
This was the reload to going all in one last time. Which didn’t happen because of course distractions distractions court and greed. But this would’ve been a clean challenge possible 500 into 10-20k.
Best part is I know what that my plan would’ve worked if I stuck to it .
WILL BE RE ATTEMPTING THIS CHALLENGE NEXT WEEK MAYBE SMALLER TO KEEP FROM BEING GREEDY! NO DISTRACTIONS AND BETTER REACTIONS.
Trade With Ninja 
Great job Ninja, loved reading about the trade.
LikeLiked by 1 person
Thanks J
LikeLike
Nice! I don’t quite understand how this would have been a 50K day, with the number of calls mentioned ?
LikeLiked by 1 person
Basically price action today went
.20-2.10
.05-.60
If we waited played the $500 first round then 50% of profit next round it would’ve been up there but due to court I was distracted with personal matters
LikeLike
Nice job. From now I will see you everyday how you doing with your challenge. It is real cool.
LikeLiked by 1 person
Thanks Jimmy appreciate it
LikeLike
I see $150 to 50k in your wordpress. What happened to it? Is it broken?
LikeLike
oh nothing just change direction… it hit which was the main goal
LikeLike