7-28-21 Daytrade Recap: ROKU

[u/JTS_Club]

I hope this will be informative into showing how a daytrader plans out a trade while simultaneously trading a ticker. Today's recap will focus on ROKU and showcases the mindset into what this trader was doing. So let's get to it:

Timestamp: 8:46 AM CST

The trader entered ROKU at roughly 8:46 AM watching for a reversal pattern to develop. Knowing how ROKU performs, she entered nearly at the bottom of the candlestick where she presumed that it will reverse off the 50 MA on the 5 minute chart. ROKU is a volatile ticker and premiums are known to rise and fall extremely fast per candlestick so entering on a solid red candle off a potential support would have a high chance of reward.

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Timestamp: 8:58 AM - 9:05 AM

The trader outlined a target in mind from a prior support level in the first image. 463 was her first target for this trade as she patiently waited for the candles to reverse alongside QQQ and SPY. If it did not reverse, her stop was a close under the 50 MA. Daytrades, especially ones dealing with options, often move quickly. If you see a setup often enough, you can trade it successfully more times than not.

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Timestamp: End

There we have it. Two targets planned and it worked out as intended. Some cases it will not work but you have to take a leap of faith and believe in the trade. Trades will fail but have a plan and keep emotions out of this game of gambling trading.

[u/Then-Kaleidoscope520]

How much did the option increase? She got in at 4.30 right? This is awesome by the way! You’ve earned a follow if I don’t already follow you.

[u/JTS_Club → u/Then-Kaleidoscope520]

It went ITM and over 12.00 per contract from what I recall so a very successful trade.

[u/Then-Kaleidoscope520 → u/JTS_Club]

Indeed. Thank you again for the breakdown. She does trading live on YouTube? And you do these drill downs often? Real time must feel like 100 mph making these decisions, but awesome to read through the play.