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Trade Details: Sold to close (stopped out) 1 Jun 16th Tesla Inc (NASDAQ:TSLA) 285 put for $3.80 (in at $4.90 for 1 day), $374.49 total proceeds. The trade executed at 09:43:14 when the stock surged at the open.
Return: (24.4%) after commissions
Note: Not a great first trade back, but I'm happy with the exit planning/discipline. If I have to point to a mistake, it was focusing too much on the bearish elements of the daily chart and giving less weight to the shorter-term bullish technicals of the 2-hour chart.
Recall my recent strategy blog post where I discussed using the daily charted flanked by the 2-hour and weekly charts for support - the harmony across each chart interval just wasn't there.
Also, I missed trades on CELG and TSLA last week because I am strategically opening trades in the last hour of the day. This new tactic, that I think has a lot of merit, may take some getting used to with respect to trade selection.
Meanwhile, the JPM trade call that I passed on yesterday for the TSLA put is acting beautifully! #itfigures
Status: $500 account value after $121 deposit today, ($477.50) YTD loss