Breakout level: $1.20
Risk level: $1.00
Target: $1.80
I almost executed this trade perfectly and it would have given me 33% returns if I have stuck to my risk.
My mistake: I add more share size during the morning push once it broke the pre market high level. This increase is size moved my risk level to some arbitrary level. My initial risk was $1 which is a nice psychological level and looking at the chart, it kissed that level and never touched it again.
I made small trades on this as it was grinding up, but this was without a proper strategy and I was just trying to make back >$3 to pay off my commisions because I was just red on the day even though I had good trades.
my last trade f***ed me bad. The stock halted going up, and I thought on resumption it would spike higher. There was a pull back and I got in 200 shares, and then there was a little pop, and I tried to sell, but my hotkey didnt place the order. With tradezero I find that happens sometimes which is not good and this cost me about $20 :(
Learnings: Stick to your plan you bloody idiot. Do not add share size because it changes your risk to a random spot.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-05 09:38:40 | SYN | buy | $1.200 | long |
2021-01-05 09:43:36 | SYN | buy | $1.270 | long |
2021-01-05 09:56:38 | SYN | sell | $1.105 | 0 |
2021-01-05 10:21:19 | SYN | buy | $1.270 | long |
2021-01-05 10:30:54 | SYN | sell | $1.110 | 0 |
2021-01-05 10:40:39 | SYN | buy | $1.140 | long |
2021-01-05 10:48:59 | SYN | sell | $1.190 | 0 |
2021-01-05 11:17:33 | SYN | buy | $1.400 | long |
2021-01-05 11:40:03 | SYN | sell | $1.480 | 0 |
2021-01-05 11:44:43 | SYN | buy | $1.520 | long |
2021-01-05 11:45:41 | SYN | sell | $1.560 | 0 |
2021-01-05 11:51:28 | SYN | buy | $1.660 | long |
2021-01-05 11:53:24 | SYN | sell | $1.570 | 0 |
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