Shared by
shaka_zulu
The goal here was failed follow through momentum. I saw the failed follow through vs VWAP premarket and wanted to short into the VWAP bounce off open over/under. I initially had a solid trade going on and locked in 1/2 my profits and looked to let the second half work. I saw it grinding back up and put a stop range order to get me out at break even, but got some slippage and took a little hit, but was still green.
I saw another opportunity coming in against VWAP and got in, however i ignored the higher lows the name was making and looked to reshort at VWAP only to watch it go against me a couple of cents. I got out, however I think I should've watched more closely the higher lows and bailed until better confirmation was given.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-01-03 09:32:18 | GE | sell | $11.700 | short |
| 2020-01-03 09:33:11 | GE | sell | $11.700 | short |
| 2020-01-03 09:34:20 | GE | sell | $11.690 | short |
| 2020-01-03 09:35:27 | GE | buy | $11.600 | short |
| 2020-01-03 09:53:58 | GE | buy | $11.690 | 0 |
| 2020-01-03 10:03:53 | GE | sell | $11.610 | short |
| 2020-01-03 10:04:10 | GE | sell | $11.620 | short |
| 2020-01-03 10:36:34 | GE | buy | $11.640 | 0 |
| 2020-01-03 10:38:42 | GE | sell | $11.620 | short |
| 2020-01-03 10:41:28 | GE | sell | $11.610 | short |
| 2020-01-03 10:42:25 | GE | sell | $11.620 | short |
| 2020-01-03 10:43:05 | GE | sell | $11.635 | short |
| 2020-01-03 10:43:05 | GE | sell | $11.630 | short |
| 2020-01-03 10:43:05 | GE | sell | $11.630 | short |
| 2020-01-03 11:02:23 | GE | buy | $11.680 | short |
| 2020-01-03 11:10:41 | GE | buy | $11.660 | short |
| 2020-01-03 11:14:58 | GE | buy | $11.700 | short |
| 2020-01-03 11:23:45 | GE | sell | $11.680 | short |
| 2020-01-03 11:30:32 | GE | buy | $11.700 | 0 |
Comments
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Good analysis as to why second half of trade lost$. Improved first entry timing could have lead to substantial profits if short was placed on the front side rise. Also consider that gaps have a tendency to be filled. After gap down could've scalped long to fill the gap.