BVXV Trade on Mar 24, 2022 09:32 from BanalityOfEvil: Tradervue User Stock Trades.

PLAY
BVXV – opening drive

CATALYST
8:33:48AM
BVXV
BIONDVAX PHARMACEUTICALS SHARES ARE TRADING HIGHER AFTER THE COMPANY ANNOUNCED IT SIGNED A DEFINITIVE COLLABORATION AGREEMENT FOR THE DEVELOPMENT OF A PIPELINE OF INNOVATIVE NANOSIZED ANTIBODY THERAPIES.

TRADE IDEA
Price will hold $2 area on the open and touch 2.50 on the opening drive

SETUP QUALITY
C – bullshit news headline, heavy algo presence in premarket

BIG PICTURE
Markets are feeling a bit tentative over the past 2 premarket sessions
SPY holding 445
VIX in low 20’s
Float 14M
ATR .08
Price action on the daily is very choppy

PLAN
Allow price to test $2 area on the open, observe tape and volume for signs of strength and confirmation for entry, do not buy opening print. 1000 shares max as I do not fully trust the algo presence. Stop is a break of previous candles low after price discovery. 1.80 could be tested before moving higher (premarket support level). Sell 80% of position into strength near target or as soon as tape slows or price begins to capitulate, watch L2 for indications.

EXECUTIONS AND PRICE ACTION
@ 8:32 entered max size… allowed $2 to be tested, but now noticing a lot of HFT/Darkpool shares printing with massive size in between the spread (printing in white), while smaller purchases and sales were occurring in the same exchanges (a clear sign of HFT activity). This made me extremely wary that this would be a headache to trade.
• Price spike to 2:30’s area and I attempted to take profit but could not get filled, HFTS lingering in the area while my order sat… I was up a small amount… around $100, but then price FLUSHED and I was instantly down the same amount… Frustrating
@8:33 hit out of ½ to try and manage risk, but give it a chance because these algos are notorious for 1min shakeout candles before moving higher
@8:35 topping tails persisting, did not like the action, hit out of position – FLAT
@8:36 some buyers stepping up, I hit back in with 750 looking for a scalp back up to 2.15
@8:38 price had touched above 2.10 and AGAIN I tried to take profit but could not get filled AGAIN!!! Damnit now really feeling irritated…
@8:46 price seemed to be consolidating above the $2 area so I held… FLUSH! Tried to hold 1.90 but again topping tails were dominating the chart and price action was slow while large HFT volume printed on the time and sales… Hit out of full position, accepting the loss before it got too nasty.

KEY TAKEAWAYS
• at this point you know the marks of HFT activity… you know better than to try and trade these names… IF YOU SEE HEAVY HFT ON THE TAPE AND CHOPPY ACTION THEN JUST AVOID
• this was a risk off day and this was never a great setup… its better to just not trade setups like this on weak days
• remain calm and take control of your trading
• size down and get ultra picky tomorrow and remain that way until the market shows some strength
• If you have to leave for work then do not try and force a trade
- even if you are right on the move, it is difficult to get filled when HFT has control over the symbol... avoid
- I have 0 edge in scalping HFT dominated symbols. avoid.