Setup: Pull in to VWAP Short
Entry Activator: 2m double top rejection of VWAP
Size: 100 shares to risk $150. Stop above 383.40
Exit 1 Reason: Remove 1/4 size at first support level to manage risk (R1 @376.15)
Exit 2 Reason: Remove all size at measured move target confluence with S level if tape shows signs of support holding (M30 @371.50)
Commentary: I'm very happy with my exits on this trade because I stuck to my exit rules, which is something I generally struggle most with. I'm not happy with my entry on this trade. Typically I can get a much tighter stop with greater position size when I enter as close to my level as possible, and I do that safely by ensuring the ask is strong / stacked and the bid is weak at that level. I didn't do that on this trade, and it cost me by forcing me to use $150 risk rather than my goal of $100 risk, and less size (could've taken 150 shares on $100 risk if I entered at the level).
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-03-12 10:37:49 | BA | sell | $381.880 | short |
2019-03-12 11:07:11 | BA | buy | $376.620 | short |
2019-03-12 11:46:51 | BA | buy | $372.020 | short |
2019-03-12 11:47:04 | BA | buy | $371.710 | short |
2019-03-12 11:47:32 | BA | buy | $371.690 | 0 |
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You nailed it. Nice trade!