Hey 5-Star Trader,
Happy New Year! Examining past trades is very important to every trader. It is how we learn from our mistakes. However, moving on from them is very important too! That is why this is the last week I will be reviewing my 2021 trades. Let’s hop right in so we can prepare for the upcoming year!
The last trade that made it into my top three journal entries was my trade in the Nasdaq (QQQ)**.
The seasonality of May is often referred to as weak. For this reason, I was prepared for the market to pull back, but I wanted to verify that was going to happen. Using my Turbo Vzo signals (pictured above), I was able to see them turn red. This was my confirmation and I decided to put on a bullish butterfly and in only four days the QQQ pulled back and met my target for a profit.
Entry: BUY +3 BUTTERFLY QQQ 100 (Weeklys) 7 MAY 21 340/330/320 PUT @1.96 limit order (LMT)
Exit: SELL -3 BUTTERFLY QQQ 100 (Weeklys) 7 MAY 21 340/330/320 PUT @4.21 LMT