PLAY Trade on Apr 20, 2021 15:44 from tjmiller2001: Tradervue User Stock Trades.

Rough opening on the day but by EOD it was clear that institutions were buying. Price started to increase 1 hour before close (this is when institutional money starts to come back to close out the trading day.)

This is not a setup in my playbook. It was an End of Day momentum trade. I liked that I had SPY supporting me at the time of the trade. My very unsophisticated trade thesis was: "Institutions are driving price up. I'm going to ride this trend upwards with the expectation that it will continue until the close."

This is not the kind of setup that can make a career but I wanted to try it out with shares instead of options contracts. Low-risk experimentation. I got in with a 4:1 RR and got out when my TP level was hit.

My levels were not based on any type of logic or previous levels at all. Continuing to use "random" levels that just fit a good RR will cause me to be faked out often in the future.

Lesson Learned: Make your TP and SL levels based on logical areas of support or resistance.