Trade Journal
Now that I’m an active trader again I’m going to restart my semi-daily trading journal. I do this to keep myself sane spot where I make mistakes and learn to correct them.
I’m long NVDA and it’s been a rocket to the moon. I got in around $750 and I expect it to hit $900 first before peaking out around $1,000. Traders love round numbers and I’m very wary of them because price action could fail around there.
NVDA to The Moon
I do not like what I’m seeing in NVDA right now, to be honest. The first gap up after earnings look like a normal big institution play, the second gap up feels like the Dentist Boomers, and that’s a red flag for me. I expect a pullback and a possible test of the $750 to $760 level. If that happens, I’m loading up on NVDA calls.
Speaking of calls, my AMD call (May 17, strike 230) has returned close to 50% as of yesterday’s close. AMD price action looks a lot like NVDA and I worry about a pullback. Have no fear, I have till May for it to hit $230 or at least get close to it.
AMD to The Moon
The rest of my holdings are doing well because they’re classic buy and hold, but if the options pay off then I might change my trading strategy and focus on building wealth with buy and hold and turbocharge returns with options. Maybe. Everything is a maybe and subject to change.
You have to trade what you see, you can’t be biased.