Didn't Trade Two Days

I didn't trade yesterday or today. I have reasons.

First, I said I'd go for $EXE since it was the only one I saw potential with from the XLE sector. One of my rules is not trading the first 30-60 minutes, and while I have violated this in the past, I certainly have paid the price. On May 5th, Tuesday, I waited and didn't see a good entry at all so I didn't. Another rule is not picking a random stock on the fly if I didn't prep for it the previous night. Either way, let's look at $EXE's performance yesterday and today and conclude why being disciplined pays off.

In the above, I have the same chart I shared on Monday night. Where I have kept the defined channel with support price of $97 and resistance price $100.64 – I have also kept the diagonal dotted line where I highlighted the uptrend, but as we see on May 5th and even May 6th – it didn't hold and we now have a downtrend. $EXE has gone below the identified support. If I hadn't respected my rules, I would've walked in to hand off my money.

Today, the XLE sector was down as a whole as there were more conversations on ending the war, so it is evident by EXE that the prices plummeted.

I didn't trade today as I was traveling and was not going to deal with being worried about missing my exit, in addition to this, I didn't prep last night as I was packing and getting ready. It's not a bad thing, sometimes it is best to not do anything and protecting your capital.

It is now Wednesday, my tradezella hasn't synced up. I'll test other options and see if there are better alternatives for it. I do think that I need to numerically track my trades for proper management.

Let's prep for tomorrow!

As mentioned XLE was down today and so was XLU. Everything else thrived, specifically the technology and industrial sectors. For tomorrow I will be looking at industrials, so let's zoom in for two options.

First Option I'm considering is $RTX

I'm specifically considering a call expiring on May 16 with a strike price of $182 or $185 — depending where the first 30-40 mins take us tomorrow.

We start to see the uptrend. We see that it's closed above the 20MA and it's got room for an overbought position tomorrow. Overall I think it's been set beautifully. Now, I do want to preface by saying that in my intraday options trading, the goal isn't the strike price, the goal is ensuring the method works and growing the account with a good system in place.

The second option I'm considering is $ETN

I'm using a different charting sketching, so I'm excited to see how it performs tomorrow. IF the charting logic is right, then we can expect $ETN to reach high $420s. Although of course, it could potentially stay sideways too. It did close above the 20 and 200MA so it could continue its uptrend or reverse back temporarily, though we have a very healthy RSI. However, we also see that ETN can go downwards after it reaches mid 50s. The only way we'll see if it's worth an entry is after the first 30-60 mins of tomorrow's opening.

While I want to consider one in XLK, most of the holdings have been high performers over the last few days, and that's great, but it does make me hesitate slightly as I know that many will start collecting profits and driving the price down.

I'm excited for the two options I've looked at and cannot wait to see what the performance will be like. I think I'm more excited for $ETN as I want to see the new sketching in action. Even if it doesn't perform as I expect it, it will be a good learning lesson that I can later on improve on.

Let's go for Thursday!