Hello Hive,
Hope you are doing well. :)
Lost my trade today, but still must record it.
As always, first thing I look at is just the price movement on the charts.. Price fell (shocker) all night into this morning. Price (for stocks and crypto and most everything) has been tanking for the past few days. Anyway, something I look at is market watch which shows the current market conditions in colors and shapes..
I've never seen it so red. This tells me that there is a lot of prices falling. (this indicator is my broker's, thinkorswim, indicator and shows the top 500 companies on the stock exchange)
Here's another thing that I have not seen since I've been trading stocks 0dte.. the vix, also known as the fear indicator..
It's very high. I've never seen it above 22. This means people are fearful and makes for increased market volatility.
I thought this was a no brainer and I entered my trade.. a CCS (call credit spread) so it will profit as long as price falls more or just stays put.
It started off good and I was showing profit almost immediately. I went to get coffee and to send my daughter off to school.
When I got back to check on the trade, I saw this
Price had turned and I got stopped out shortly after. :(
The funny (or sad) thing is I put some faith in the marketwatch indie, but even after price had risen so much and for quite some time, this is what it still looked like..
Yes, a little bit of green (rising prices), but still definitely red.
So, another loss, but I am fine with it since the previous 5 trades I've made have won. That, to me, is a win to loss ration that is very good indeed. :)
Hopefully the cycle starts anew with a string of wins before a loss finally arrives. I am surprised whenever I can even win anything in such a down market as now.
I know it might be confusing to some people, so feel free to say any question or comment.
:)