Breaking One Hundred
Today I hit my first $100 dollar gain. I traded for roughly one hour made around 5 different trades all of which were options. This was the light at the end off the tunnel type of day. Although I said not to get cocky I saw a glimmer of hope of how attractive the lifestyle of day trading is. Being able to make $100 in an hour showed me the freedom knowledge can give you if you are able to sharpen this craft.
First, lets breakdown going into the trading day. I read a article the day before about Pfizer releasing its 2023 Q3 reports. I don’t remember word for word but from my memory and understand numbers of vaccine shots were dropping darasticly, alot of budgeting was taking place, and overall bearish news was circulating. From my own experience Big Pharma has taken a big hit from COVID. $PFE was down around 40% overall from Covid times. This was my golden goose going into the night, my mind was set on trading put options.
$PFE EXPERIENCE. I made three separate trades. All of which turned profit. Originally I thought the earnings was taking place after market hours so I was gonna hold position and not sell anything. In turns out I was trading mid call. Luckily I decided to pull profits. I kept reentering and taking profits around the $80 range. I decided not to risk anything after I made the $250 which was a good decision because after market the stock is pretty even right now I might of even been down slightly.
THE UGLY. After my first trade I was hyped. I made a little more than $100. The gambler and overconfident shit I am emerged from me. I wanted to get into another trade. I was already mid my second $PFE trade which was bouncing from negative to positive but I was confident from my first one to leave it alone and come back. I traded $QQQ and $SPY. I did not look for any technical analysis. There was no indicator to make these trades I just wanted to win. I ended up losing ~$80. Stupid of me.
TAKEAWAYS AND MISTAKES. Not knowing when the earnings call was happening was just a simple stupid mistake. My entries were very bad after looking back. Probably lost $50 on the short end from just wanting to enter immediately. The $QQQ and $SPY trades should never of happened I would of ended the day with $250. It was ego and adrenaline getting the better of me. Also the aftermath of thinking I was good will only hurt me in the future.
Overall im happy with the results. Despite that, how we got there was very bad almost as if we got lucky if im being honest. Every trade is a learning experience though.
Overall: 18/100
P/L Day: $183.53
P/L All Time: $182.58
