AMD Trade on Oct 1, 2020 15:10 from tjmiller2001: Tradervue User Stock Trades.

2.5:1 RR on my entry. AMD had been performing strongly all day and just hit HOD.

SPY was near support at VWAP so I felt comfortable dip buying AMD, which tends to have a decent correlation with SPY. The correlation isn't as strong as a name like AAPL but it is noticeable.

Bought calls near a whole number and previous resistance. This level broke and my stop was hit. The 1m candle that closed below my stop was a hammer candle so I decided to stay in and see if it was a fakeout. It was not a fakeout and a giant red candle came next, turning a 2.5:1 trade to a 1.5:1 trade after a late exit.

I need to work on my exits. I feel like I either get out early and get faked out or get out late and get frustrated with not following my rules. Below is how to fix that.

Lesson Learned: Only take trades with AT LEAST a 3:1 RR, after slippage this can become closer to a 2:1 in reality but if my win rate is decent, I can make that work. This means, be more selective with my entries. Having tougher standards on RR for the trades I enter should help me keep my winners larger than my losers.