So the week started out with a big drop but ultimately came back up over the week. But I did have 2 trades on to start the week and in this episode I talk about how I handled them and how this will affect my trading plan for big drops going forward. Good lessons here so take a look and let me know what you think.
May continues to be a rough month for my trading but that means there's lots of good lessons. With the crazy moves we had you'll see where I used a long put on 2 different trades and see how they produced different results. Also was quickly stopped out of small trade early in the week. Not a good month for the account, but a good month of learning and that's why I do this so enjoy!
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So the dull days of summer came to a quick end this week. Thursday and Friday saw some big drops and one of my trades was hit by it. But when the smoke cleared I think I managed it well with minimal damage done. In fact, I had a bigger loss before the drop. I had a win too so it wasn't all bad this week. But this week shows how I execute my trading plan which covers even the unexpected. I'd love to hear what you all think of it.
We had a crazy market drop on Thursday. I had 2 positions on with very different results. This is a great time to discuss what kind of trades are more resilient when this happens as well as how to manage open positions with a crazy down move. Sometimes there isn't much you can do, other times you can actually do better.
In this video I show how I tried to handle a bad down day with long puts. Some I handled better than others, but there is a good discussion on what to do when the market gaps down at the open and you can't get fills on spreads. Hopefully this will help some folks out there.
If you like this content, please like, share, subscribe. But, more importantly, start some conversations. Either comment down below or reach out to me on Gab @MidwayGab.
