DTSS Trade on Jan 14, 2021 09:32 from Trade_Hunter: Tradervue User Stock Trades.

I used two different strategies for this stock today. Bull flag momentum and scalping.

My first trade actually was based more on solid probabilities than anything else. It was so close to bottom VWAP and had so much upside that it was just worth taking the risk with a tight stop loss in case I was wrong. It payed off and I exited with a $.20 per share profit.

Bull Flag Momentum
After that, it rose to $4 then fell back down to around $3.40 where it found support. This was, admittedly, not the most beautiful bull flag, but the support was strong so it was a good trade. I bought in at $3.40 (after buying at 3.44 and stopping out at 3.39 lol), and it popped up to 3.50 which actually put me at my daily goal so I sold, only to watch it jump up to $4 in the next minute :)

Scalping
After it hit $4, the volume was huge, and it was going back and forth from $3.90 to $4.20 several times a minute so I scalped this for huge gains a couple of times. I felt confident about my final trade at $4.03 and doubled my share size which healthily paid off.

What did I do right today?
Earlier this week, I realized that I had committed the cardinal sin of trading which is scaling down a losing trade. I vowed to never break that rule again. Today I held my stop losses very tightly, and kept them closer to my entry. I was going off of the principle that avoiding a losing trade is as good as getting a win, and this is reflected in a few trades that I sold at the same price as entry for a break even. I avoided some big losses today by being extra careful. I am adding this to my rules and trading plan because I think that this is a powerful principle for long term success and consistency.