S&P 500 Short — 2022-03-11
The objective is not to grade the P&L. It is to grade the decision.
Charts
Trade Review
Currently taking a trade that is outside of the current plan overall. Only risking 2.5% on this trade and I am glad that I reduce the risk on the initial lot which was a 5% entry. Sticking to the rules and in this case this is the EOW risk rule. Neutral as far as confidence goes on this one and I've already reduced the SL on this setup to 4255.7, if it was ready to go it would be gone!
Hit the tighten SL on this trade and ended with a 2.3% loss on this one I'm okay with this. This was a trade that wasn't within plan and I'm okay with the attempt at this entry.
The setup was probably a C-setup with the President speaking which I took on as positive news to the Ukraine situation. However, there wasn't a reaction to it for the most part.
Didn't consider this but this was the economic new for the day:
10:00am USD Prelim UoM Consumer Sentiment 59.7 61.4 62.8 USD Prelim UoM Inflation Expectations 5.4% 4.9%
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Cory publishes the working thesis before the session, not after — this Playbook and Trade Review are part of that same documented process. No signals, no highlight reel.
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