My first trade was a dip buy, thinking that it will bounce after I bought it @ 5.47 with risk @ 5.45. It broke my risk so I sold @ 5.42. The price dipped further to 5.39 then bounce off of VWAP to 5.58. I should have waited for the Fail breakdown of VWAP before I enter. Need more patience for the dip buy.
Reenter @ 5.22, risking 5.20. Enter because I saw large green volume. It wasn't able to bounce so I sold when 5.20 break @ 5.15. Could've been a better cut if I sold the ask instead of the bid. It later dropped to 4.99.
My third buy @ 4.99 which was a keep level of support. Entered @ 5.02 thinking that I got all of my shares (10 shares) exceuted. I aimed for a move to 5.30 with my risk at 5.00. Instead, it was 7 shares that were executed. I got frustrated so I decided to get out. It was breakeven. The stock bounce to 5.27-5.30 afterward. IT was frustrating trading Premarket.
Overall loss is 1.20. Still, What I did right was cutting my losses quickly. What I did wrong was too many impatient trades. I should wait for a bounce off of key levels before I enter for a dip buy. Furthermore, I overtrades. It should be 1 trade a day as I practice. Another mistake was pre-market trading because it is choppy during pre-market. Should've wait for the market to open because GNUS went to above $6 to 6.71 after dropping to 4.88.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-06-10 06:54:46 | GNUS | buy | $5.470 | long |
2020-06-10 06:56:46 | GNUS | sell | $5.420 | 0 |
2020-06-10 07:05:50 | GNUS | buy | $5.220 | long |
2020-06-10 07:06:30 | GNUS | sell | $5.150 | 0 |
2020-06-10 07:10:31 | GNUS | buy | $5.020 | long |
2020-06-10 07:11:44 | GNUS | sell | $5.020 | 0 |
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