Shared by
FloridaTrader
Strategy:
Reversal
Mistakes:
1. First entry was premature. I tried using 30 second timeframe in my head since WeBull doesn't offer anything shorter than 1 minute. Luckily, I didn't get burned.
2. On the second add, I should have waited for the reversal to be confirmed. The stock ended up trading sideways for a bit, but it could have dropped to the $8.00 area.
3. On the second/third position, I did not have a proper exit strategy and I ended up giving back much of the $800 Gain I had from IMTE earlier in the session.
Thoughts:
1. Be patient. Wait for reversals confirmations.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-03-17 15:11:44 | IMTE | buy | $8.230 | long |
| 2021-03-17 15:12:29 | IMTE | buy | $8.130 | long |
| 2021-03-17 15:24:10 | IMTE | sell | $8.500 | 0 |
| 2021-03-17 15:36:43 | IMTE | buy | $8.370 | long |
| 2021-03-17 15:39:25 | IMTE | sell | $8.700 | 0 |
| 2021-03-17 15:59:05 | IMTE | buy | $8.300 | long |
| 2021-03-17 15:59:11 | IMTE | buy | $8.310 | long |
| 2021-03-17 16:13:34 | IMTE | sell | $7.320 | 0 |
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