RIOT Trade on Apr 27, 2021 09:41 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: even with the BTC consolidation, was thinking there'd be further selloff and potentially another dip below the daily key after weakness into VWAP and r/g
*Entry: Half size at the 41.30s level or around, add size on pops.
*Risk: 1:3 (vs 42.40s initially, adjusted when sized up)

Catalyst and News:

Extension of the move from TSLA with the BTC dump

Fundamentals:

n/a

Technicals:

2$ Morning gap up into FF and fade off was a great setup, especially with the morning flush into the peaks and repeated fails

Summation:

Entered on the first big push up into the 41.60s, small size. Waited for the gradual fail at some point and the drop past g/r. Happened once early on, added on the pop back, a bit rushed/too early as it came back. Didn't hit the stop the first time and really failed harder back down after the r/g into the second g/r, watched and considered taking some off at the 1R point but thought it could still run given recent action on this ticker.

Things have changed and was mistaken. Set stops and left for work, came back to the desk to see I'd been stopped out and covered the top.

Takeaways:

Key levels were set at the point that was the channel before the P/M fail, and that's where the stop was set. I thought I gave myself enough wiggle room but apparently not, covered the top. Slightly annoyed but will learn from it instead.

Losers happen. Even if the idea was right, execution just needs some tweaks:
-Be sure to take some off at 1R, even if it's just a smidge.
-Focus on keeping the same stop or adjust as the trade is working? Probably the latter, as long as you adjust the trade overall.
-Entries were probably fine, just watch the adjustment on the size.
-Patience and review. Again, losses happen.