SNAP Trade on Oct 22, 2020 10:26 from tjmiller2001: Tradervue User Stock Trades.

Fantastic execution on strong thesis. This is the kind of trade I will size up on when I'm back to options trading.

Catalyst: Amazing earnings sent name up +20% the day before

I was watching for a continuation today. Name opended strong, never touching under VWAP on the 1m. (Note: VWAP on this chart is different than my TOS one)

SNAP spent 20 minutes slowly pulling back to a level I considered important bc 1) it was a whole number psychological level 2) it had shown support at that level earlier today 3) VWAP was right there.

I wasn't even thinking about position sizing or scaling in with a specific strategy. I just knew what price I wanted my fill at and where my levels were. I should've been thinking about these things. This was a setup to size up on and possibly add more as I saw momentum.

Entered with a 5:1 RR with my SL at a logical level and my TP at an area that wasn't unreasonable.

As soon as my price target was hit, I got out. Proud of myself for following rules, that makes it a strong exit. However, I should've been in with multiple shares/more size by the time it hit this point. That would've allowed me to keep some risk on as I scaled out. Looking back on this it appears to be an early exit. I got out without any "Reasons2Sell."

I caught a small piece of a large move. Appropriate position sizing would've allowed me to take a bigger piece of this opportunity.

Lesson Learned: Be mindful of your position sizing. Be mindful of areas you would add a momentum lot/ put on more risk. Also know what would trigger an exit for these added lots.

In the future, exit if you encounter a "Reason2Sell" instead of just hitting your TP level. This is a more advanced strategy to learn.