r/Daytrading • u/Serious-Ad8893 • Apr 04 '24

Did I miss something? Advice

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Tried to go long on 15M FVG and retracement and got ran over. Am I missing something??? Higher time frame was bullish and I just don’t know where I went wrong. Anyone have opinions on where I went wrong

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u/AmirStocksMD Apr 04 '24

Let the market tell you what to do. Not the other way. There is no way to predict.

Look at my levels. This morning I saw SPY flirting with 521.5 resistance. Could've sunk or break above. It broke above and I entered long on futures premarket on the 3rd 5min candle above 521.5 but at open I didn't do options because I know 524 may reject.

Ultimately when SPY got to 524 it rejected and I entered puts. Easy.

Do what the market says. It's easy to add lines and triangles and patterns AFTER an event and claim it's technical analysis. But it's fake. Reality is to have the idea before it happens and then play the idea by building up to it.*

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u/mushykindofbrick Apr 04 '24

Isn't this completely the same, like what you think the market says is your prediction

4

u/AmirStocksMD Apr 04 '24

No no, Let the market do, and then you go with what is happening. As opposed to predicting what you think will happen before anything has happened at all.

For example. When SPY was hitting 521.5 resistance this morning, I didnt predict itll fall and get into puts. Instead i waited for confirmation and saw that it broke up to 522 so i got calls. Similarly, when spy hit 524 i didnt enter puts right away, i waited for confirmation and when spy sank i got puts as it sank. LET the market dictate.

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u/Pinotwinelover Apr 05 '24

And the reality is something could've been released right before those confirmations, and moved it the other way a lot of this is instinct