This is a recap of my trades for Week #2. My end of week balance is at $3,309 and my win rate is at 59.38%. Above is a picture of all the trades I entered and exited. I still call out each one when I enter and exit on our discord channel. I find that helps keep me accountable and making good plays.
The most notable plays from this week was the OLED earnings I closed at 186% gains, and the TWLO play I closed at -78.75% gains. OLED I entered because of an unusual option flow and that I expected them to beat because of their major work in smartphones and tvs this quarter. They have a history of wild moves after their ERs and I thought putting $800 towards an option was worth the risk.
TWLO I entered because their ER beat but the stock dropped significantly. I was playing the bounce play, and was up 30% at one point, but didn't sell. I should have played a lower strike price, and took profit when I had it. There were a few times I was green on this play, and since I had a significant amount of money in the play, needed to take profit early and get out. This is something I need to be more cognizant in the future. I had 2 plays on Friday that I lost $400 on because I didn't take profit when I should have. I'm realizing that making money in the stock market is all about risk management. It is very easy to make money, and even easier to lose it.
For me, spreading my money out and buying more long term options is really helping me stay profitable in this volatile market. Currently watching TTD, HIIQ, and NVDA earnings, and have about $360 available to make plays on Monday. I'll be watching SPY in the afternoon for a bounce, may play EOW for trade talks.
Link to my trading Excel file: