Shared by
DMacTrades
Tags:
After 1430
Back Side Trade
Long
Long Above VWAP
Loser
Setup: Gap Fill
System Problem
IO: 35-40%
SI: 0-5%
Float: 10-30M
- I am definitely not proud of this trade. Not because it was a losing trade, but because the entry, execution and exit were all poorly done.
- I used a full bracket order as I have been all to reduce "winner to loser" and used a stop that was way too tight... because the stop was so tight, when the order was executed the stops were immediately in the range of the bid and ask, and were automatically cancelled which left the trade naked. This is my fault... I clicked on the wrong bracket order template and didn't notice.
- Poor entry. The gap fill was a poor context trade whereas the flags were much better. I took the gap fill as it felt squeezy but it was premature.
- In essence, I was pushing the trade and should have waited for a proper setup.
- I got lucky on this one.
- Result: -1R (but I made a calculated risk to sit through some chop that could have cost me my day's gains). Not a good trade.
Execution detail:
| Date/time | Symbol | Side | Price | Position | |
|---|---|---|---|---|---|
| 2021-04-08 15:24:32 | RICE | buy | $14.970 | long | |
| 2021-04-08 15:24:32 | RICE | buy | $14.980 | long | |
| 2021-04-08 15:57:11 | RICE | sell | $14.870 | 0 |
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