SPY Trade on Jun 21, 2021 10:15 from tjmiller2001: Tradervue User Stock Trades.

SPY had been uptrending from 9:35-10:10 and I wanted to get long on dips. My plan was to buy calls after a series of red 1m candles was followed by 1 green 1m candle.

At 10:15 I entered with my stop below the low of the candle I got in on. I was filled with a 3:1 RR. I like this entry strategy.

At 10:17 I moved my stop to breakeven after a HOD break. I wanted to see follow through or else be stopped out early if it's a fakeout.

At 10:18 I was stopped out when it failed to keep pushing up immediately after the HOD break. My stop loss was tight, preventing this from turning red on me. However, I should've made reentry rules after my exit. They even could've been the same rules that got me in.

If the market is grinding up all day, wait for 3 red candles followed by a green 1m candle to get long with a stop under the green candle.

I tried to use a similar strategy for the 2nd trade but this move had already lost steam, this is a better trade right after the open not midday.

Lesson Learned: Set reentry rules after you exit.