AMD Trade on May 24, 2021 10:00 from tjmiller2001: Tradervue User Stock Trades.

I wanted to take AMD long because /ES and /NQ both broke through supply with strong buyers and I was looking for an equity that was at a natural place to bounce. Since AMD was near VWAP, I thought it was reasonable that it could find support there and trend higher with the rest of the market.

The reason I didn't want to simply get long SPY or QQQ calls was because I didn't like the idea of getting long the market inside supply. I'd much rather get long at demand because I thought there was a decent likelihood /ES would break into its supply for a few mins then reject it and head lower.

I fought for price well, getting filled above VWAP with a 4:1 RR. 2 minutes later I had a great exit time, getting out quick when my nearby level broke. Tough to have 3 losses and 1 scratch trade today. But I'm glad I'm keeping my losers small.

Also important, As of May 24th, 2021, I have no edge with the VWAP bounce setup. I've consistently lost money with it, and the sample size is not small. It may be time to put this strategy on hold and avoid trying to trade VWAP bounces when I'm not Supply or Demand Trading.

Lesson Learned: Keep your losses small. Lots of papercut losers and a few big winners can make a profitable month.