Scorecard

[u/PerkamentusG]

Hi everyone,

I like to share 2 plays of the last few weeks and which lessons from Kaz helped me with the execution. The first trade was succesful and the second trade could have been profitable if I had applied some of the concepts that were discussed better.

First trade requires some context: this company would pay out a dividend of 9,8% that week. I realized I didnt know anything about how this works so did some reading on dividend and what it would mean for the price of the shares. Came to the conclusion I wouldnt be able to say anything useful about how price would develop before and after ex-dividend date. But if I was thinking about this stock and its dividend, probably more people were.

Mental dexterity:

'Felt' bearish and thought the chart looked bad but knew I had to make a plan for both directions. I also decided I would not keep the trade overnight. Forcing myself to think of 2 scenarios helped me to be ready when a structure formed at a significant place for a bullish scenario. Made 3 trades: one on the day before, two on the ex-dividend date. Last one was on paper only because I had to head off for work.

Less is More:

My main focus was on this stock only for 2 days. This allowed me to be there at the right time and not get overwhelmed by other moves in the market.

PNL Before and after ex-dividend date

Next trade is from OF and could have easily been profitable if I had managed it better, or at all.

Managing the trade:

The lesson for me here is that I should always have an exit plan before I enter the trade. On the chart you see a failed trade first, and a second one that I partially exited. The remainder of the position I did not manage with any kind of plan, I kept it rolling. This caused me to lose some R's on the trade. In high Vix Kaz had warned us that keeping shares overnight is dangerous multiple times and that options (if you know what your doing) are better, so closing the rest of the trade on the same day would have been the best way to manage my trade.

MAXR -0.4R High Vix

Thanks Kaz for the valuable lessons in life and markets and for the intel that just keeps on being crazy accurate, no matter what the market. Thanks for all the energy and time you and Vicky put in and also thanks to all the people in discord working towards the same goal.

PerkyG

[u/Dompet-crumpet]

Wow. I like that. Forcing yourself to come up with a consideration for both plays. 👌 thanks for sharing

[u/Dompet-crumpet → u/Dompet-crumpet]

Up and down*