AMC Trade on Jun 30, 2021 10:07 from tjmiller2001: Tradervue User Stock Trades.

AMC opened up weak and spent the first 30+ minutes of the day holding under VWAP. This was a name that looked like it was ready to fade and I liked the idea of a VWAP fade trade. Since I don't have any edge with this setup, I made my risk tight.

My plan was to get short at 55.40 which was VWAP at the time. I would get stopped out at 55.55 which would be a higher high on the 1m chart. Or I would take profits at 54.95, the closest support zone. This gave me a 3:1 RR.

I set my order and hoped to get filled as price slowly moved up to tap VWAP. Instead, high volume came in with aggressive buyers. I was filled as price instantly ripped through my stop. This seemed unusual and I was ready to get out and reenter long but there was no news. Instead, I cut my loss and stayed away from more trades on this name because without news, that move was strange to me.

Lesson Learned: Size down when no edge is present. A $40 contract would've been more appropriate than an $80 one.