I was anticipating a breakout again, however this stock had a huge run did not consolidate nicely. I was really trying to buy a vwap bounce and hoping for some upside that never came. I did not stop out on the stop and lost more than I needed too.
I find it is so easy to let me losers run and my winners not.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-06-10 14:04:26 | MEDS | buy | $8.840 | long |
2021-06-10 14:06:40 | MEDS | buy | $8.620 | long |
2021-06-10 14:26:08 | MEDS | sell | $7.500 | 0 |
hey man if a stock is gonna give a second leg especially after running almost 100% since the open its gonna need time to accumulate and trap more short sellers near or at vwap for 30 minutes to an hour and a half this trap usually happens from 11:30 to 1PM after 1PM it is less likely from what I've experienced. In this case you were going long at around 1:30PM to 2PM I can't tell exactly but just know that after 1PM it can be a little harder to get a good long entry especially if no higher lows forming like in this case the stock kept making lower highs after It topped out at 10.50, hope this helps .
Thanks for the feedback AR49. I have usually seen these runners bounce of vwap and give a nice bounce back to high of day and then fade off. After the bounce I saw a higher low made, so that was my entry, but it did not work this time.
I see what u mean about that higher low where u got in but it was a bit premature there. I would classify a higher low more so if it broke through 9 and retested and held there in my opinion that would've been a higher low. But u had a good trade thesis. and u didnt bag hold which is good. just maybe work a bit more on entries and patience.
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meds killed me too