Shared by
tjmiller2001
Entered because 49.30 was a level I identified as being support from 6:37-6:40 that morning. Looking back, this was a weak level and a trade should have been entered if VWAP held, not if some weak level held. Poor trade idea.
However, the trade execution was strong, I entered with a 5:1 RR and got out at exactly my stop loss. No slippage here, which is rare for me.
Lesson Learned: Make sure your levels are strong before entering a trade. If they line up on multiple time frames, even better.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-11-20 09:55:26 | NIO | buy | $49.500 | long |
| 2020-11-20 09:56:05 | NIO | sell | $49.300 | 0 |
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