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Weekly Review: 4/24/23 to 4/28/23


My Weekly Review Process


I started the week with a very tough and frustrating day on Monday. I did my best but did not follow through on opportunities, and my executions were not in my favor. I played what I needed to, but things didn't work out, resulting in a slight loss day. Not a huge setback but frustrating nonetheless.

Tuesday was a solid trading day where I profited and executed nicely on my trades. However, I cut my potential short on this day.  But this day gave more confidence boost for the rest of the week.

Monday and Tuesday seemed to negate one another, but things went further downhill on Wednesday. It started with a solid trade, but I sold too soon, and it seemed like I missed other opportunities when I had the chance to get in, but for one reason or another, I did not. 

My frustration was building along with my inability to remain calm and be more cautious going forward. Finally, I gave in to the frustration and failed to cut losses fast. Ultimately the day ended with taking more consecutive losses, increasing position sizing, and falling off the cliff psychologically.

I came to the conclusion that I needed to paper trade going forward.  I still need to understand many things about my trading. There are some positive things, but they pale compared to the things that negate or draw me further down. To move forward, I need a better way to gain a foothold in my trading.

I am determined to tackle the problem dead on. I will not fail! I will not yield!

Thursday was my paper trading day. This day turned into a reflection day and a day to explore my current strategy. I declared 15 truthful statements to help guide me forward, narrowing my focus/strategy even further to only RZ cross-over plays.  I will still draw Key Levels on my charts, but they are no longer in consideration for trading decisions. The only thing that matters to me now is the directional RZ cross-over events. I will become an expert on this no matter what.

With this refined focus and absolutely no risk on the table, I could fully explore this strategy. Going into the day, I only had two setups. I tried my best to capture my commentary as I executed my paper trading so I could asses my performance later. 

With my first paper trade, I entered early according to my plan, which added risk to my trade. Waiting for the ideal entry was necessary. The play had a decent move in my favor, but I decided not to take profits like usual. I wanted to see this play out because it still needs to hit my exit plans.

This trade showed me that patience allows for the realization of opportunity and that trusting plans builds confidence. 

Unfortunately, this trade ended up being a loss, but it was essential in revealing the full potential of the trade.

Moving forward, the best way to have played this situation is if there was a move in your direction; it would be best to take a risk off the table and take some profits. This, over time, will ensure better risk management and prevent gains from turning into losses. In other words, keeps the results in favor of your desired outcome rather than fighting against your desired outcome.

In my second paper trade, I got a decent entry and quickly hit my target, but yet again, I was intrigued to see what would happen if I let things play out more. It hit my conservative exit, which was the day highs, but we still had Key Levels close by, and the price could likely test those again.

I patiently stayed in and was rewarded handsomely. Made an excellent % gain. It went higher after I sold it, too, with a potential % gain of over 245%. That's the power of patience with an options strategy. It's awesome.

My refined strategy has great potential. I often can sell for decent gains, but patience is required if I want more profits that meet or exceed my original plans. Of course, working on patience with only 1 contract will be hard. But with more than one, I can minimize risk by taking some off when the play goes in my favor. Then if it retraces, cut the trade for breakeven, etc.

On Friday, I decided to not continue with paper trading because it would further take me away from my goal of consistency with real money.  I will, however, incorporate paper trading as a tool for tricky or frustrating days and will have paper-trade days to step back and re-evaluate. In this way, paper trading can be a therapeutic way to get back on track.

The last day of the week was easy to manage since I  refined my strategy to focus on one setup and  1 contract.

Going forward, I will use more of the 2-month/15 min chart to determine RZs in combination with the 5-day/5min chart.  Previously, I used the 1 min and confirmed with the 15 min. This new process will provide better RZs and cleaner charts to formulate trade plans.

I got in too early on my initial play but was dead on with the direction. Patience is something I need to focus on both entering as well as exiting. 

My final trade was a quick scalp on the fast overreactions of the moves, but all fit within my overall plan. Not ideal, but I made a quick profit there. But my original plan unfolded later as expected, but I was busy with other things, so I could not partake in the move.

I am excited about next week, but I still need to be cautious. I may experiment with 1-2 contracts to better manage entries/exits. Ease into trades or scale out of a trade etc.


I cannot be afraid of change. Change is the one thing that will propel me forward to where I want to be.  So I am excited to bring my mindset and focus from Friday into next week. Let's see what happens!

  • Focus on Intraday System Pattern A.
    • Pattern A: reaction zone crossovers with confirmations for an RZ reject or bounce. 
  • (1-2) CONTRACT SIZE.
    • If move in favor, take partial or all profits to minimize risk.
    • Patience will give me what I seek.


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