Set-up : Down-Trend Continuation
Symbol Name: BA
Side : Short
Size : 15
Entry : 375.82
Takes : 375.22 / 374.82 / 374.22 / 373.82 / 373.42
Exit : 376.22
P/R : 4:1
Comments: I have entered BA cause once failing the gap fill the price faded below VWAP. My entry sucks, I had to wait just few minutes more giving the price the possibility of a retest especially in the market scenario we are in!!! Indeed the price just went against me but fortunately never stabilized above VWAP. The drop of SPY helped my trade to succeed. Though I am quiet satisfied about the trade. Last mistake is in the fact that I didn't let last piece go to break-even. I have got once again stuck on the pnl. True I have got a nice 4:1 but I have left on the table 1$ per share profit. There hasn't been a real reason for me to close the trade, so my attitude was WRONG!
05/28/2019:
Watching back this trade I really want to underline the importance of being focus when trading! This trade is a 4:1 pnl. 15$*4= 60$
Considering all the other trades missed on the month I can definitely assume that the line between a consistent profitable pro trader and an amateur it's also the result of this mistakes.
Hesitation is another factor that will keep you far from success. You could be able to read price action and adapt, spot support and resistance, checking volume profile, stock selection, pre-market patterns, validity of the catalyst, level 2 reading, taming fomo and over-trading, respect MA's, indicators and pm levels but if you miss decision and focus you'll be screwed!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-08 10:58:02 | BA | sell | $375.820 | short |
2019-04-08 11:42:23 | BA | buy | $375.220 | short |
2019-04-08 11:43:17 | BA | buy | $374.800 | short |
2019-04-08 11:50:13 | BA | buy | $374.210 | short |
2019-04-08 11:54:18 | BA | buy | $374.190 | short |
2019-04-08 11:56:54 | BA | sell | $373.650 | short |
2019-04-08 11:58:15 | BA | buy | $373.230 | short |
2019-04-08 11:58:31 | BA | buy | $373.270 | short |
2019-04-08 11:58:55 | BA | buy | $373.100 | 0 |
Thanks I appreciate that. It was around 6/8$ for this trade. I have been trading almost 6 months with a 3.33$ risk per trade, around 0.015% of my account. Since April I have raised my size risking now around 15$. If I will keep being profitable I will consider to keep raising size up to a 0.33% risk per trade.
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This looks to be one of your better trades. What is your risk per trade?