My first attempt to show what I trade off
I like to keep things simple. This is a 5 minute chart. On this chart I entered here.
The reason was the 9ema crossing the 20sma while at the same time the 200ema coming down at a steep angle. Couple those with the bollinger bands getting tighter it was the perfect set up for a continuation of the run upwards.
This was SPCX yesterday and I bought $1500 in 9/21 $138C. My price target for this trade was $142 since the upper band was at $139 and there is always expansion on this type of move. It didn’t expand as much as I hoped but exited after 2 hours at $140 with a tidy $400 profit.
Finding entries to trade is something that I find to be pretty easy it’s the exit I struggle with. I’ll usually exit early with a 30-50% profit even though all the charts are pointing to continuation. How can I bring myself to trust the longer runs? Will I have to dust big profits a few times to watch these play out?
Since starting 6 weeks ago I’ve had around 40% in gains on a $20k account. But, I could have easily turned that $20k to $100-150k by letting them run. Any help would be greatly appreciated.