Shared by
dpaleo
Tags:
post 2pm less chance of chop. Big solid red 5min candle good signal. Shoulda covered chunk on close of 15:20 candle after failed roll then big hammer. Sloppy all day with this ETF
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2021-09-28 14:20:13 | VXX | -2000 | $27.360 | -2000 |
| 2021-09-28 15:08:53 | VXX | 500 | $26.720 | -1500 |
| 2021-09-28 15:29:32 | VXX | -500 | $27.380 | -2000 |
| 2021-09-28 15:38:15 | VXX | 500 | $27.070 | -1500 |
| 2021-09-28 15:39:17 | VXX | 1500 | $27.270 | 0 |
Comments
tradervue2020
Great trade bud. Quick q: You boldly shorted just above VWAP when there were 2 solid wicks earlier that showed support at VWAP. You thesis was vindicated by the bear flag just after you entered. Any reason to not give importance to the VWAP wicks? Was it because the second wick went lower than the first indicating a buyer got taken out? Was it the tape? Thanks!
dpaleo
Not my best dtd but thanks. Regarding when its time to get out I do try and let the chart tell me when its time as much as possible. But like with anything in trading, it depends. It depends on what the thesis is, what timeframe the entry is based on, etc. In this trade I was looking for some volatility selling into close so after I get the vwap break I was looking for the trade should work quickly and easily especially with so little time left in day. That 15:20 5min hammer was a clear signal trade was unlikely to work so I shoulda listened to the chart and exited.
As for covering flushes, I think with experience you get a sense for where the stock can potentially go. I enter a bunch of take profits immediately after entry bc thats when I'm most objective in the trade. But its not easy concept. Covers are the thing I need most improvement on.
tradervue2020,
Thanks. The bounce off vwap was def significant but my trade was a play on the $27.75-$28.00 seller all day. The big bounce off vwap led to another challenge of that area but the 14:15 5min candle was a big rejection so I thought sellers took control and would have a chance to penetrate vwap and close near lows. The 15:20 candle and vwap remount told me I was wrong and shoulda exited.
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As always, impressive trading! When it comes to your exit strategy, do you always wait for the chart to tell you when its time to get out? I struggle with covering on a good flush and definitely leave money on the table.