FB Trade on Jan 28, 2021 09:44 from tjmiller2001: Tradervue User Stock Trades.

FB announced earnings premarket and was in play. Started out strong with 5 straight green candles pushing it up big. Consolidated and pulled back to VWAP.

Should've been trading shares but got greedy and entered a far OTM call contract. It's fine to lose a trade, I've accepted small losses before. It is not fine to put on more risk than you can handle. There was no evidence that VWAP would hold, the only reason a VWAP entry was good, was that it gave me "controlled" risk with an easy to spot level.

Overpaid for a fast moving far OTM call, immediately didn't feel comfortable, tensed up. I was too big in something moving too fast. It broke VWAP support hard and quickly. My eyes widened, I tried getting filled on my way out but price moved down so fast.

I lost $60 in a minute. I knew I wasn't ready to day trade options yet, I was just greedy and didn't do shares. It was a good entry at VWAP but a bad entry because I didn't wait for confirmation and traded a product I shouldn't have.

For me to switch from a developing to consistently profitable intraday trader, I need to find the secret sauce for VWAP bounces. I need to have a way to know with a decent degree of certainty that VWAP will hold. Whether that's tape reading or something else, I need to work hard to find it.

Lesson Learned: Even after 10 months day trading, greed clouds my judgment. To become a CPT, I must be able to handle fear and greed.