Highlighted Trades: 02/20/2024
Our best trade of the day was this short on MTCH. I should note that this one is still open, so not a complete trade, but so far it’s doing great! We got in at $36.68, and it’s currently down to $36.15 for a 1.44% return. Our target exit price is $35.97, which is still a ways off. I would estimate that we’ll see an exit early tomorrow due to a poor technical outlook. Overall, I don’t see a lot of red flags in this trade. The signal looks fairly kosher, and the stop loss is placed at a fairly reasonable level.
Our best long of the day was already closed. It lasted a little over 90 minutes, and brought in a return 1.33%. Again, there’s not much to criticize here. Throughout the day, both the TK-lines and overall volatility had been at pretty reasonable levels, our stop loss was placed well - room to breath, but not enough to lose much, and our exit was almost exactly the high of day. Even if the movement wasn’t that consistent, all in all this trade was a beauty!
Our worst trade of the day was pretty benign, overall. We’re only down 0.6% on it. Granted, it’s still open, but we got in at $40.72, it’s down to $40.48, and our stop is $40.41, meaning we’ll almost definitely just get stopped out and have our losses capped. Normally, this is where I would explain why this signal was an obvious fake-out, but I don’t think this one was. None of the usual warning signs we’ve been looking for appear here. Volatility isn’t consistent throughout the day, but it doesn’t reach particularly intense levels during the open. The TK lines don’t have highly unusual movements. Even the stop loss is placed at a reasonable level. I don’t think this trade had enough clear red flags to say that a human wouldn’t have taken it. Some percentage of trades will always perform poorly, even great-looking ones. But if our worst trade of the day looked great, and only lost 0.6%, that’s a pretty solid day.
Overall, we entered 47 positions today: 18 long and 29 short. That’s all I have for you tonight. Thank you for reading, and happy trading!
