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Nvidia (NVDA) Trade Recap 1/14

+120% Gain

On this day, NVDA was opening up in a Supply Zone I had marked out. The previous day it was pretty choppy not a lot of price to trade. As the market opened it proceeded to sell off almost immediately. It formed a bear flag, around a key level I was watching, which was the prior day low and a key psychological level $300. As it came into this level and price was struggling to hold above it, I bought puts, my first profit target was going to $290 and then after that around $280 which were other areas of interest. This trade was stress free, as the price went straight down almost instantly from the time I entered the trade. I scaled out as it went in my favor and the final contract I sold for over a 100% gain. Just by being patient and waiting for my setups. Some days are not optimal for trading which is why I try to be patient and always wait for the market to give me direction, nothing is worse than trading in a choppy environment or holding through a drawdown. When the move happens almost instantly there is no stress and the day is over with quickly!