NNDM Trade on Mar 8, 2021 09:30 from OPTRADER18509: Tradervue User Stock Trades.

This was my main watch this morning. Thesis was overextended to the downside and I was looking for a bounce. Pre-market I identified my ideal entries using the $7.80 support as a guide to manage risk. I initially started scaling at $7.99 using a wider risk to the half dollar mark $7.50 and waited for the buyers to come in confirm $7.80 as support. Once confirmed I moved my risk to a few cents under that level and brought my average/share at $7.89. My goal was to scale out in the high $8s and low $9s. However there was a lot of selling pressure at the half dollar mark around $8.50s so I locked in half. I locked to reposition myself by looking at where the next support level would be which I identified as being $8.20s over/under. So I recycled my shares at that level and moving my risk to my initial avg of $7.89/$7.9. And scaled out on any push to $8.50, locking in gains. Then from the tape I noticed the buyers weren't giving up and the chart kept putting higher lows from the $8.20s base. So I repositioned myself this time scooping dips around $8.40 where support/buyers were stepping up and risking to $8.10s using $8.20s level as risk management level. My goal from the adds was to scale out on any push to $8.90s but the tape was soooooo HEAVY that I ended locking in all my gains at around the initial morning HOD of $6.67.

Overall I felt like I traded well, I was able to lock in 10Rs using small size and small risk.

What I did right:
-I had a plan, entries, exists, scale in and out
-I used risk first and reward second to time my entries
-I paid msyelf as my plan was working
-I identified where the tape was heavy from selling pressure and locked more gains
-I bought at/close to support and sold at/close to resistance
-I used smaller size and was still able to make as much as using big size with less stress.
-Using small size I was able to be more patient to let trade work and didn't get shaken out easily as using bigger size

What I will improve on:
-I will keep using smaller size until I feel comfortable sizing up
-I will focus on my process and plan and not get distracted by other traders ideas and completely ignore my ideas which would turn out to be great ideas
-I will focus on Risk FIRST from now on and Reward second