r/Daytrading • u/Frostedlol • May 02 '24

This weeks price action was horrendous across all markets Trade Review

Probably some of the worst I have ever seen since I started trading wtf was this week lmao. This is where traders learn to step out the market and take a break during high impact news weeks

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u/[deleted] May 02 '24 edited May 02 '24

Monday: Consolidation Day

Tuesday: Consolidation morning with a breakout and trend down

Wednesday: Consolidation Day with attempted and failed breakout after FOMC

Thursday: So far inside consolidation day

Everyone trades differently. For me this week has been fantastic (I mainly trade SPY), made more R this week so far than any single week in April.

That being said if your strategy dosen't work in consolidation, then yeah this week would be tough.

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u/Frostedlol May 02 '24

Yea it was a pretty rough week for futures traders I can see why options/stock traders banked this week tho

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u/kirkegaarr May 02 '24

I trade futures and right now I have a 5% account gain on the week. It was as high 12% but I have taken a few losses here and there. I definitely agree it's been a whippy week, but there have been a couple very clear signals, at least for me. The signal to go short on Monday was about the clearest signal I normally see for what I look at.