I hope you all had a great Labor Day. Let this mark the start of a new direction for Finding Chezz. If you guys missed the previous post, I mention that I will be fully transparent in all the trades I take from here on out. Some of you might get insight from these posts but I think I am actually the one who will benefit the most. This forces me to analyze all the trades I take and figure out if I’m doing something wrong overall or it just was a trade that didn’t work out. Moving right along…
Last night I slept like crap. We went out with some friends for the holiday so we left the dog in the apartment for a few hours. My guess is he slept so long during the day he was unable to sleep. Needless to say, I’m the one who got to wake up at 3AM, 4AM, and 5AM to him fucking around. I’m highly against trading when I don’t sleep well (for fear of stupid mistakes). Not the way I wanted to start Fall.
Facebook was ripping off the open and I saw my first opportunity to enter on a pullback at 6:44AM. The price was in the 75.20’s. I passed on the opportunity (because I’m a wuss). It took the next leg up to 75.50’s about 4 minutes after that. It then put in another flag pattern and gave the signal to buy. I once again passed. Now she’s at 75.75. It consolidated for a while giving me about an hour to prepare to enter. A little after 9AM, she put in her move. 76 even. After I missed that move I said ‘fuck this’ and laid on the couch for a short nap. It is tough for me to remind myself that there are always more opportunities. The part I’m mad about is that I didn’t have the balls to enter on multiple occasions. That 30 minute nap turned into a 3 hour nap so I must have needed it. Guess where she was now? 76 and a HALF. My 74.5 weekly calls that I was ready to enter into at 1.25 and 1.40 were now in the 2.30’s. Lesson learned, take the trade when it presents itself to you. No questions asked. If it meets my entry criteria, pull the fucking trigger.
The 74.5 call pricing for the day: