A quick momentum trade that was suggested in a chat. Trade managed as low conviction trade after a late entry.
I do not have the catalyst or the the prior technical
Trade management
I entered on the momentum above vwap. I did not have this on my watchlist much before this trade.
I did take it on B@A and had some follow through that allowed for a quick break even trade. At the first move of the stop, I decided to play for the hold above 160 which locked in a positive trade. On the late entry stop would have had to be at vwap. With a little more size, I think I would have set a stop at 160.10 and taken what it gave me on the micro scalp
The mechanics on the entry and the stop move are something that I am working on to allow me to make a few more trades.
I would not say this came close to a good trade. But, every execution is progress.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-07-02 10:06:14 | ADP | buy | $159.935 | long |
2019-07-02 10:10:31 | ADP | sell | $159.970 | 0 |
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