AAPL Trade on Oct 9, 2020 13:39 from tjmiller2001: Tradervue User Stock Trades.

Never traded a name this many times in a day before. This made me feel like I was an SMB trader, just because I was aware of important multi-day levels (116.50 in this case was resistance on the 5d:15m), acting based on strong levels on a name in-play, and scaling in and out of my core position, which is something more advanced than my usual, "Buy a contract, sell a contract" method that lacks sophistication.

AAPL started the day strong and was bounced off VWAP smoothly 6 of the 7 times it came near it that day, with the only expection being at the opening 2 minutes. This was a strong signal that institutions were eager to buy and get their orders filled on each dip.

I was aware that 116.5 was resistance overhead and I was more comfortable to get long when I saw that level break 30 mintues before my entry.

I scaled in beautifully on my 1st entry and was quickly green with a small position size. My sizing was smaller than usual because I've been very red recently and these contracts were set to expire today in a few hours. I had a 3:1 RR on this entry, something I'm okay with. Recently I've shied away from 2:1's and only taken 3:1 or higher because I know my win % is so low.

Gorgeous job scaling out into strength on 1st two contracs and holding the 3rd, nothing I would change about this.

Great dip buy on second entry, going in small but wisely while uptrend is maintained, got more confirmation of a reversal than usual before my entry/was more comfortable paying to get in quick when I saw momentum instead of hoping the price comes down to me.

I planned to get out of a few contracts at 116.44, that was a level that marked a 6:1 RR since my entry awhile ago. I felt invincible since the name had risen so much and had this idea in my head that it couldn't come back down and I timed the bottom. I bought at a previous level of support with the idea that I would exit quickly if that level broke.

A mental lapse froze me as I watched my level break quickly and without signs of slowing down as I frantically placed orders to get filled if it ticked up a small amount. I got out way too late as these contracts melted from 0.40 to 0.15. I got out at the bottom, frustrated with myself for not scaling out while I had profits, frustrated at myself for thinking a winning position couldn't fall that fast.

My mental resilience held me back on my last trade. I'm glad I stayed to fight instead of walking away, I'm glad I didn't revenge trade and go in heavier than the opportunity warranted. However, I'm not okay with my decision to buy 0.15 worth of an entry while the setup warranted something larger. This name was at VWAP, a level it had repeatedly bounced off of all day.

I let past trades cloud the decision making behind a new trade and missed out on the contracts running from 0.15 to 0.78. I'm not upset that I missed an opportunity, that will happen often and FOMO won't help me. I am upset that I wasn't thinking clear enough to appropriately size my position.

I got out for a small profit when my level was hit and had no contracts left to let run. The problem here was not an early exit, it was that I had nore core position to keep on in anticipation of a move up.

My last trade on this name was a put near that 116.50 level that was barely broken earlier today but was still a solid resistance level in my eyes as a psychological number and multi-day level. Strong entry being patient with a tight stop and strong RR with only 0.02 of risk (a 1m close above 116.52 was my tight stop). Quickly green then very mentally sharp to get out when name broke the level I pounced on a sell order than kept my loss to $0.01

Lesson Learned: Scale out even when you feel you're invincible, the market will humble you if you ever think you're smarter than it. Size up when appropriate, be mindful of logical position sizing.