LI Trade on Nov 16, 2020 09:53 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: Continued fails after 34.30s key hit and fail into VWAP
*Entry: Small at 32.50, scale up from there.
*Risk: 1:3

Catalyst and News:

Followup to whole sector melt down last Friday.

Fundamentals:

N/A

Technicals:

Huge fails from last week, signs point(ed) to a lack of follow through
(Learn to read tape. Keep at it).

Summation:

Impatient 10s entry on a VWAP test and under and back over. Got in relatively small and held vs the highs, but when I saw action suggesting it was going back up over, I fell into the same trap as usual and held until it broke/hit the mental stop. Flubbed the hard stop and it didn't execute, so I'll be looking into that as well. Still under 1R but a loss nonetheless.

Takeaways:

-Where is your edge? I seem to have lost this question many a time now, and took several moments today to reflect upon that question. When I wait for the move to prove itself as failing, with many tests and drops, I'm golden, even on lower volume and moderate float. This? I'm not sure where this impatience is coming from, but it stops here.

-Was informed beforehand that it's much easier to formulate a plan than to scale in. Frankly I believe it. I'm allowing the idea of having a small starter get me into positions which are unfavorable and frankly dangerous, as well as the habit of "let's see where it goes" instead of just taking the smaller cut and leaving. There's no reason to take entries that I hold into manageable but avoidable losses repeatedly. Wait for the top to peak and then show itself going down. If you miss it, you miss it.