Shared by
tjmiller2001
CGC with a strong open. Bought on a pullback to VWAP. Hammer green candle above VWAP gave me the confidence to size up slightly. Really proud of my entries here. 3:1 RR
Took size off prematurely on small move up, I sold because the green 1m hammer candle wasn't followed by more buying. I was uncomfortable holding more size when strength wasn't evident within seconds. Out of nowhere, the bottom fell out on this name. Giant red candle made me scramble to get out. Exited slower than I would've liked. Messed up my RR ratio and took a bigger than acceptable loss on this one. Makes me question the use of mental stops instead of hard stops. Afraid to get wicked out but a hard stop would've helped here.
Lesson Learned: If you have multiple shares, use a hard stop for at least 1 of them just in case things take a turn for the worst quickly.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-11-16 09:40:04 | CGC | buy | $24.950 | long |
| 2020-11-16 09:41:24 | CGC | buy | $24.970 | long |
| 2020-11-16 09:41:26 | CGC | buy | $24.950 | long |
| 2020-11-16 09:41:58 | CGC | sell | $25.000 | long |
| 2020-11-16 09:45:32 | CGC | sell | $24.800 | long |
| 2020-11-16 09:46:15 | CGC | sell | $24.770 | 0 |
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