11.13

Patience is key. Waiting to truly understand 3m pivots after identifying a thesis on the 10m. There is no rush to grab something. There are multiple chances to enter. Scaling in made it infinitely easier to reduce fomo (by entering, but not at the risk of a full position) and lock into the price action to then determine if it makes sense to add size to exit quick and let the original position run to the intended target.

My first trade ended up reaching the expected target and then some. The second trade I almost top ticked my exit by truly waiting for the target - 92% on that contract.

Scaling in and being really sharp about my exit was key. It's no big deal to take the quick and small loss and potentially get back in later. Because once I'm in a winning trade, I can add size - keep getting in position - small - to best evaluate price and add conviction only if it's there.

Interestingly enough my target exits were great entries for puts. However, given how far we'd already tanked I was hesitant to get into puts given the low risk reward. On the flip side I don't hold things long enough more that to matter.. I'm getting there. Huge take away from today is scale in small add later.