TSS Trade on May 28, 2019 11:18 from MarcoG: Tradervue User Stock Trades.

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MarcoG

 

Set-up : 1min Bounce Long
Symbol Name: TSS
Side : Long
Size : 20
Entry : 119.93
Takes : HOD
Exit : 119.15
P/R :

Comments: Today I have started trading a new strategy that I have been back-testing since quite a while. The strategy called 1min bounce long consist in getting long at the first point of resistance once in an uptrend the price pulls back. Usually the first level of resistance that in this case was 119.75 at 09:35 is the point in which buyers come back in all the way to high of the day (HOD). I have got a wonderful response indeed price just bounce once arrived at 119.75. Just 10 cents stop would have been enough. What happened in this particular case is that bounce price was below VWAP. Indeed once at VWAP tons of sellers came back in leading the price to get back to LOD (Low of the DAY). The beauty behind this strategy is that even if you'll be wrong your losses will be really contained. I have instead of buying just at 119.75 waited for the price to make a new green candle with new high. Perhaps this will not be necessary next time. The point of reflection is on the takes. I have aimed for a retest at new day high thus instead of locking up profits I have then added at the first Dragon Fly Doji candlestick to build up my position. Next time I will do exactly the same but only if the price will hold VWAP, never again long below VWAP cause the fake breakout could be just behind the corner!!
With 2 entries and an initial risk of 15$ I have locked just 5$ loss. If my red days keep being like that I will have in the long run quite good results.

Another important reflection regarding today is the hesitation getting long in AMD at 27.57 at 09:33, as well on PLAN at 42.37 at 09:35 and TSS at 119 at 09:33!
I have just froze!! Pfffff, I am so pissed because of that!! The 3 of them would have worked perfectly, the setup was there, volumes, price action. It was only me to don't be present!! I was a bit sleepy I have to admit that, perhaps that could have been the cause of my hesitation!
Anyway, survived another day and learned a lot! Ready too apply again my strategies tomorrow!!

2021-11-29 19:50:59
How I started studying the Pullback.


Execution detail:

Date/time Symbol Side Price Position
2019-05-28 11:18:29 TSS buy $119.930 long
2019-05-28 11:38:40 TSS sell $119.780 0
2019-05-28 11:54:04 TSS buy $119.970 long
2019-05-28 12:54:14 TSS buy $120.460 long
2019-05-28 13:02:21 TSS sell $120.060 0


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