Name was holding decently well above VWAP in first 13 mins of open. Entered at a doji candle at VWAP. Used a 3:1 RR, great entry near VWAP.
I followed my rules very well, got out at my stop loss. Really struggling to analyze this trade. It ripped up immediately after my exit.
I didn't exit too quickly because I followed my rules and nothing about the chart looked bullish when I exited. I did exit too quickly because price ripped up after I got out. I think I'm missing something here. Maybe I need to think, "Where would every other retail trader put their stop losses? I should enter when retail traders are panicking to get out."
Lesson Learned: Think about where retail traders are putting their levels, then try a strategy where you dip buy during moments of panic. Stephen Dux does this I think.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-15 09:43:38 | PLTR | buy | $26.830 | long |
2021-01-15 09:48:21 | PLTR | sell | $26.640 | 0 |
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