PLTR Trade on Dec 18, 2020 09:58 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: FF vs HOD and
*Entry: Small into pops, size up accordingly
*Risk: 1:3 vs HOD
*Range: 26.80s-25.80s, projected lower end.

Catalyst and News:

"Don't buy" rating by Stockchase, gap down O/N, expecting continued fails.

Fundamentals:

N/A.

Technicals:

Large gap down overnight, basing at 26.10s, waited for morning opportunity to enter.

Summation:

Saw morning shove into the 26.80s, watched fall past VWAP, waited for pops, weakness, and VWAP test for entry and sizing. Saw weakness at the 26.20s and at VWAP, entered at 1/5th intended size, and waited. Saw fails again but followed with strength back into VWAP. The tape tells a story, but may have been moving too fast to catch and truly get with your level of experience.

Saw heaviness at all the pops, but not enough to enforce enough confidence that the trade would work. Given the range, I added to half size to get a better position, and then took off at the re-hit at my stop after it failed at the 26.50s.

Takeaways:

Plan: respect the work. Go with what you planned before. If those don't work, then don't go hunting for something you're not prepared for. Simple as that.

Confluence: what strategies are coming together? You have VWAP and price action, but have you truly taken volume, multiple timeframes, all your EMAs, and dailies into account? It's better to have multiple confirmations than a single one.

Range: Did you consider the range? Did you fully size? Were you actually ready or not?

Intuition: recall what you wrote about trusting yourself on exits. It's not doing what you expected or what you like? Get out. A shot is gone, don't succumb to sunken cost. Just move on and fight another day. Even if the loss was minimal, it could have been even less.