TWLO Trade on May 14, 2020 09:48 from gbrukh: Tradervue User Stock Trades.

Inst Own 97.20%

Short Float 13.51%
Avg Volume 4.25M
Rel Volume 1.32
ATR 10.61

Trade
An attempt to make a quick scalp trade at the open in the long direction. The stock was very strong last several days so the direction of the scalp trade should be in the upward direction.

Trade Implementation.
Ignored the red opening bar. tried to enter the long position using a limit order on the second bar but didn't get the execution. I decided not to chase the stock, and let the order stay open waiting for the stock to come back. That was an error. The stock indeed came back but the momentum was gone and the stock stopped me out.

Lessons learned
- When doing the quick momentum trade the execution should be done fast. If the price ran away without execution it is probably ok to wait a very short time for the volatility. I waited for 10 minutes for the price to come back. During this time the momentum dissipated and the conditions for the scalp were no longer present.
- The stop loss order was placed too far away from the entry. Originally R/R = $1/$2.5, which is too low - it all became apparent when the losses were realized. There is no need for a big stop-loss when buying into momentum. In this case $0.20 would've been more than enough.