Salesforce. CRM. Reverse Engineering a Decision.
I went long a 240 call option earlier this week on a total gut play, and it turned out to be my best trade. Now I'm reviewing to get some positivity in to start the weekend, and maybe put into trader language what my gut was seeing.
Key things I notice about the trade:
Non-Indicator elements noticed:
- It had nice bounce off the most easily visible liquidity zone.
- It had a TLB from the February high.
- It had a break of resistance ceiling and follow through.
Maybe the stacking of these three elements is what led to the push through what could be viewed as the middle territory.
Indicator elements noticed:
- At the placement of the trade the indicators were saying it was a terrible decision. At least, from the Daily viewpoint.
- The RSI proved pretty useless in this example.
- The Stochastic crossover would have provided a nice entry.
At the end of the day, there is no other way to classify a gut play than gambling, which is unfortunate, because it was my best trade of the week and now I'm having potentially unsustainable habits reinforced.
Maybe I can find some way to confluence these ideas moving forward.
Key things I notice about the trade:
Non-Indicator elements noticed:
- It had nice bounce off the most easily visible liquidity zone.
- It had a TLB from the February high.
- It had a break of resistance ceiling and follow through.
Maybe the stacking of these three elements is what led to the push through what could be viewed as the middle territory.
Indicator elements noticed:
- At the placement of the trade the indicators were saying it was a terrible decision. At least, from the Daily viewpoint.
- The RSI proved pretty useless in this example.
- The Stochastic crossover would have provided a nice entry.
At the end of the day, there is no other way to classify a gut play than gambling, which is unfortunate, because it was my best trade of the week and now I'm having potentially unsustainable habits reinforced.
Maybe I can find some way to confluence these ideas moving forward.
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