After experimentation with quick morning momentum setups we have determined that we are not able to outsmart the market and choppy price action is part of trading. We ended up with an overall loss of ($138.23) even though our setups behaved as planned. Take a look at SNAP for a trade that we missed because of our tick by tick analysis that we have concluded does not work.
Check out the the charts below to see the trade and how it played out. Any questions shoot us an e-mail at phalanxtrades@gmail.com or leave us a comment below.
Phalanx Equity Curve:
Today's Phalanx: 9 Tickers Traded (See the log below for more details): SNAP, AXNX, ONCY, BLDP, PBA, ADMA, PBYI, DBD, JNCE
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SNAP 5 Minute Chart - 01/09/2020
SNAP Daily Chart - 01/09/2020
See the trade log below for all of the trades we made today, feel free to check them out or leave a comment.
Total P&L for today: ($138.23)
"Trade the Phalanx way!!!!"
Disclaimer: This post is for informational purposes only and should not be considered investment advice. Please consult your investment adviser or do your own research before making any investment decisions.