FPRX Trade on Oct 15, 2015 09:31 from ToqueX: Tradervue User Stock Trades.

Grade=C-
P/L: +1.3R

Setup: short at the open under VWAP. This was an idea I had after analyzing several charts where a stock gapped up really high on news and put in at least a slightly lower high in the premarket and then slip below VWAP on the open.

Result: Lucky for me I got the move. I used what I thought was a tiny position (10 shares) and wanted to use a mental stop to prevent a quick "spikeout", and I had a line drawn at 28.00 at my stop which was temporarily violated and therefore increased my risk beyond 1R for a period of time and I was getting ready to pull the plug on the trade if it traded above 20 for a minute longer. Then the move came and it seemed somewhat slow at the time, but now it looks like a fairly swift one. I set 26 as the initial target using the premarket action and a round number as a guide. Then I trailed down the stop to lock in a bit more on the remainder.

Note: I feel somewhat lucky that this worked out just like I had planned, but I will continue to study the activity of news gapper stocks, to have a plan for the open and get accustomed to what the higher probability and higher R/R trades look like and how they behave. Some points off of the grade for the high-risk nature of this trade.