Did I do anything fundamentally wrong here?

Hello, everybody!

I’m a more moderen dealer. Studying some feelings and discovering my system, protecting my account small proper now with simply $200. I might love a few of your enter right here.

I entered a commerce immediately on SPY (purchased 1 put at 0.75) with a value goal of 423.2 in what I believed was an intraday provide zone/resistance degree.

The commerce ended up hitting my SL earlier than reaching my PT. $-20. For reference here’s a image with my entry and SL being hit. Based mostly on this the R:R was 2:1. If I noticed power by way of the 423.2 degree, I used to be going to set an SL on the level aiming for a PT of 422.5 with a r:r of about 4:1.

I’m assuming that this was a liquidity sweep by institutional merchants, on condition that it form of false broke out earlier than going to the goal degree. Moreover, there was some earlier provide at this degree following the morning breakdown (which I did commerce however bought too early). I ended the day -$8, however I needed to see if you happen to guys had inputs on why that was a nasty entry level or if there was bullish sentiment given the reversal construction happening.

Additional, does anybody commerce with liquidity sweeps and if that’s the case how? This has occurred to me just a few instances up to now so my account is even on the 8 or so trades I’ve taken (often take 1 or 2 a day).