This Trade Hurt Me

You ever get in a trade that you think is going to be a killer trade, I mean you feel like you really NAILED the entry? Today was one of those days for me, but what happened next is a great lesson. This morning I was trying SPY calls on a morning pull back. Markets looked a little weak but European markets were decent and after seeing Friday’s huge rally off the morning drop, I felt we were set up for the same move higher today. However, as the middle of the day rolled on, I could clearly see markets were under too much pressure. Every little rally was met with selling pressure and every low was met with another lower low shortly after. In times like these, I have to make a decision that’s best for my portfolio. Most people try to “muscle” the market at this point. They try to add to their position, average down and then add some more if it keeps falling. Sure, sometimes that works but I’ve always felt all it does for me is dig a bigger hole. So today, I called my Navigator members into the chat room with a real time App alert. What I had noticed at this time was the SPY was trading below a KEY 200 MA line around $401. The shift from “bullish” to “bearish” trend was happening right before my eyes. I had a feeling if we dropped below the 200 MA line on the daily chart that we could fall further on worries of “recession!” (Here is a snippet of a CNBC article echoing my exact thoughts!) So I told traders in the Navigator chat room I was going to sell all my “Call” positions (meaning I felt stocks would go higher) and enter “puts” meaning I felt we could go lower. Here is the screenshot of how this went down. I posted I was looking to buy puts, then I bought puts. I then alerted my target intentions and then followed the targets. The trade so far has worked out as you can see, but the morning calls HURT! The silver lining here is if I wasn’t a strong chart reader, I probably would still be holding those calls for an even bigger loss! I was proud of myself with this switch. I am glad I called members into the chat room and told them what I was seeing LIVE while it was happening and told them about my trade before I took it, so they could learn. This is what the Navigator service is all about, EDUCATION! I’ve been trading stocks for over 20 years, sometimes it hurts to let go but usually it’s the best decision to make at the end of the day. Now I can use this losing trade as an example to teach you too. The key points here are: - If I see the chart moving away from my trade, letting go early usually is best. - When the SPY crossed below the DAILY 200 MA line, that was my KEY to getting out. - Not letting emotions get in the way of my trading, being able to admit I was wrong and move on actually lead me into a profitable trade (still holding some puts now.) - Sharing examples of both winning and losing trades are great educational opportunities. I hope this lesson helps you. Cheers, P.S. If you would like to learn more about [Market Navigator monthly, then click here right now.]( Good day! Text “RAGE” to 74121 or 855-488-4211 to get exclusive trade alerts & offers [👀 See who else just passed 2 Million in private investing 👀]( * sponsored content [🎯 Where's your next trade idea coming from? 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