3/10/2022 On the importance of following trading disciplines. If the market hasn't stabilized, it hasn't stabilized.

After the closing yesterday, the consultant believes that the market may fall today. The analysis from the guru's video also predicts a decline because most of the indices are near the support level, so a pullback is highly likely to occur today. Don't doubt it! It's that accurate!

As shown in the figure, trading starts when the levels of the three boxes are determined. Do not trade before that, make sure to control yourself because the trend is not clear. Rushing in can easily lead to losses.

After determining the levels of the three red boxes, draw all the lines. Note that all lines are drawn before trading. They can be adjusted later, but there should be a general direction. If the direction cannot be determined, then do not take action!

The blue line represents the upward support, trend, and resistance. The green line represents the downward resistance line. The black line represents the resistance.

Successfully bought SPY 442 CALL at point 1, price 3.18. The plan was to take half profit at position three. If the price goes down, a stop loss of 50% loss will be triggered. If it continues to rise to the resistance area marked by the black line, then take full profit. But I couldn't resist the temptation and sold everything at point 2. Price 3.32. Only made a small profit. The position is still okay, enough for a week's expenses. However, the CALL eventually rose to over 5 dollars, and most of the afternoon it was priced above 4.5 dollars. So, I gained a little but lost a lot.