Last week was a rough week for me, my first red week in quite a while. Losing weeks are part of trading, and the best traders are able to limit the downside and learn from them going forwards. Looking back, I should have had a much more cautious approach to the week given the low volume and extra theta burn of a holiday week. Thankfully, I was able to cut my losses before it became unmanageable. This is one aspect of the week that I am content with; in the past, one thing that had plagued me was not being able to cut my losing trades. I’m excited to get back at it next week and will post some neat set ups in tomorrow’s update. With that said, here’s the recap from last week:
$AMZN: Loss, very choppy week, no significant movement either way
$AMD: Loss, count invalidated on Monday, -2.1%
$BIGC: Win, an early drop but a strong rebound for a 7.7% max gain on the week
$DKNG: Loss, Count invalidated after a quick -3.6% move
$FB: Loss, count invalidated after a -2.1% move
$NFLX: Open, this set up is right in the buy zone currently
$RKT: Loss, faded throughout the week. -7% on the week
$SPCE: Win, a nice 13.6% move. This set up played out perfectly
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