SPY 
SPX 
AAPL 
TSLA 
NVDA Guru's #AprilChallenge Day 1st Report Card.Starting Balance: $514
Ending Balance: $2776
Net PnL: $2262 - Excluding taxes and fees
Option traded:
1.) Bought XSP 563C at $208— one lot. EXPIRED WORTHLESS
2.) Bought SPX 5610C at $360-—one lot. Sold at $2470
Performance: Unsatisfactory because did not keep SL on XSP calls and did a second trade in one day, which is against the one-day, one-trade rule. Also, SPX options should be sold earlier because the market was highly volatile during the end minutes, and you could end up losing even the premium too.
Emotions: 1.) Started developing "HOPE" emotion when the market falls after a fake breakout. 2.) Developed GREED when in profit during SPX calls.
Strong Point: 1.) Able to judge the market direction and liquidity points (SL of the buyers area). 2.) Didn't went against the trend.
Weak Point: 1.) Took entry exactly after the triangle breakout and didn't wait for the market to grab the downside liquidity and to check if the breakout was real or fake. 2.) Kept the SL in mind and not in a real account. 3.) Wrong entry and didn't wait for the retracement (FIB) as marked on the chart. 4.) Didn't check the economic calendar and important news this morning before executing the trade.
Guidelines for the future: 1.) Always wait to see if a breakout is fake or real. 2.) Always wait for the premium to decay a little bit (put in a LIMIT order). 3.) You were in $60 profit on XSP calls before the market dumped to grab the liquidity downside, and you should have exited earlier because your account is small and you should focus on booking small profits instead of waiting. 4.) Price got rejected by EMA200 on 15M-TF—so use 15M-TF to see moving average crossovers.
Thank you, everyone, and I am close to my $5000 target. I hope everyone did their best. How was your first day of challenge? Please share your PnL with all, and I can share a screenshot of my PnL if anybody wants, but I don't know if it is against the TradingView rules or not. See you all tomorrow!
