INTC Trade on Oct 22, 2020 10:12 from tjmiller2001: Tradervue User Stock Trades.

Pretty satisfied with this loss. Lots of things I did well in addition to neccessary fixes.

Strong open. Name was pushing higher highs and higher lows. When I see this, I wait for a pullback to enter instead of trying to catch the momentum.

The trader I was 1-2 months ago would've loaded up on call contracts right above VWAP and crossed his fingers, all while having a strong RR and tight stop of course. But I did something out of the ordinary today. I watched a YT video where Bella said he enters 20% of his position on price then 80% when he sees a turn in the tape. I decided to try this approach.

An entry on price may have been appropriate 2 minutes earlier when I saw a green 1m candle hold VWAP. However, I wanted more confirmation since the name fell so hard in the past 10 minutes. I entered with a 4:1 RR and was quickly green. As I saw the level hold, I decided to enter my second share.

The issue here, was that I should've at least considered designating that extra share as a "momentum lot." This would've made sense bc I could've used it to lock in profit and avoid overstaying my welcome. Instead I just thought of it as part of my original entry.

I was green still with several green candles printing and no hiccups so far. My PT to unload both shares was very close, I had made it 3/4 there. SPY broke LOD and this helped two giant red 1m candles on INTC form.

I exited 1 share at breakeven, something else not like me but a smart move when trying to take risk off while the overall market struggles. Here I did a great job respecting market direction. I accepted adapting my levels/ considering exiting entirely because the market direction changed quickly. This presence of mind to think fluidly is important as a trader.

On the second share I exited at my stop, which I'm proud of bc I tend to exit below my stop and slippage gets the best of me.

A+ exit on both shares, taking off risk when appropriate and getting completely out as soon as my thesis was proved wrong.

Lessons Learned: Although it is good to enter after you see a turn, don't hesitate at the first indication that entering on price is a great way to start scaling in. An earlier entry would've made sense here.

Consider designating a lot as a momentum lot and just riding it for a little bit, not attatching it to your core position. I'm not saying to always do this, I'm saying have the presence of mind to consider this.

Respect market direction. Accept adapting your levels/ exiting entirely if market direction changes quickly.