Post Trade Analysis: NASDAQ & WTIHey Traders!
In this video we go over a brief post trade analysis of the trades we've taken so far today on NASDAQ and WTI.
As a practice we highly recommend every one of you guys to actually perform a PTA on your own trades as it is literally the best way to improve as a trader as you will find your good and bad habits quickly. For example if you are not following your entry process you'll quickly understand that you should.
Anyway, we will make a longer post about this on Wednesday and explain it in detail, exactly what we do and why we do it!
All the best!
Posttradeanalysis
NFLX- POST TRADE ANALYSIS- JournalEveryone has different time horizons, goals, and trading strategies. It's essential to know the strategy of the person you are following. If they are a day-trader and you are a position trader, then their entries and exits won't make sense to you. I prefer to be a position-trader, but this current market has temporarily turned me into a swing-trader
One of the best ways to become a better trader is post-trade analysis. When I am on top of my game in a perfect world, I take a snap-shot of the chart when I put the trade on. And a snap-shot when I sell. If I don't have time to do this, I might want to choose a different hobby. :-)
Even though I was in profit on this one, I felt the chance of going higher did not outweigh the risk of a pull-back since it seemed extended to me.
I am happy with my decision.
10/21/2021 NFLX 652.1299
11/1/2021 NFLX 680.02
EDUCATIONAL PURPOSES; NOT INTENDED AS TRADING ADVICE.
MARA : POST TRADE ANALYSISGood high handle type entry.
What would have kept me in this trade?
We don't always make perfect decisions. If trading was a perfect science, there would be no opportunity. I post this analysis to show where the "doer of deeds could have done differently".
One sticking to my original stop and trailing the 10 day.
Perhaps, waiting to see if it cut the prior day low before exiting for just allowing the rest of the trade to ride isince I was already in profit.
Or, moving the stop to just below the candle of the gap?
The main reason I sold the final position was due to upcoming earnings report. It's apparent that stocks can suffer damage so it is important to always know the earnings date, before purchasing a stock. The pull-back was intense and could have been a lot worse, but I had an 11.9% cushion which was borderline for holding through an earnings report.
It hasn't closed below the 10 day. Holding final position could have been successful but we never know if our stock might gap down 30% on a report.
The results of the trade : 11.9% 1.87R
EDUCATIONAL AND NOT MEANT AS TRADING ADVICE.