Shared by
smiyaki
WHY: High volatility, good volume, high buying pressure, low float, was testing VWAP. Looking for that VWAP break.
HOW: Saw support building around 1.90s, put full size bid up at 1.97 with SL under 1.93. Got filled, took off 33% on push over 2 to reduce risk. Scaled out on push over 2.30s, did not like how we could not push over that 2.40 area so cut, saw a lot of short pressure.
WHAT: Nailed it, maybe could have sized a bit more.
Risk: .05
RR: 10:1
Total R: 10R
Percentage of full size: 100%
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-10-26 13:48:37 | MYSZ | buy | $1.970 | long |
| 2021-10-26 13:52:05 | MYSZ | sell | $2.070 | long |
| 2021-10-26 13:56:39 | MYSZ | sell | $2.330 | long |
| 2021-10-26 13:58:04 | MYSZ | sell | $2.350 | 0 |
Comments
smiyaki
@manowar41 typically scale out, only reason I would get out all at once is if I don’t like what I’m seeing and cut the position, or it’s an options play and I’m in small with 1 contract.
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smikyaki,
do you often exit out of your price target all at once or you scaled out.