Shared by
mrijod168
TRADE 107
The idea here was good but I was too early. I went short at $13.86 at 10:52AM, risking to $14.00. The price came back to VWAP and that was the point where I sold at 10:56AM. If I didn't move my stop the trade have been working, but I was not ready to take a full loss and that is why I sold manually.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-03-31 10:52:02 | HOOD | sell | $13.865 | short |
| 2022-03-31 10:56:19 | HOOD | buy | $13.875 | short |
| 2022-03-31 10:56:19 | HOOD | buy | $13.875 | short |
| 2022-03-31 10:56:19 | HOOD | buy | $13.880 | 0 |
Comments
mrijod168
Thanks for your comment. After the stock came back above vwap i didn't find reasons to hold any longer because often the stock hit then my initial stop. But in this case a re entry would be the silutions i guess. But because my rule says no more than 5 trades per day it was not allowed to get in again :-). But you are right it is all a bit a psychological thing and often it will would be better to trust my initial stoo because the trade needs some room to work. Do you have any recommendations or experience related to stop setting?
Stone_Raider142
My stops all depends on the setup. My risk is usually wherever I believe on the chart it has the best chance to hold. Like if I am in a bounce play, I will set my stop at the low of the pivot. If I am playing a breakout rest, I will set my stop about a few cents below the breakout point just to give it a little wiggle room. etc I use to play stops just based on how much I felt comfortable risk which didn't work out for me at all. lol I usually just go by the chart.
Stone_Raider142
It's great that you are disciplined and sticking to your rules!
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Did you psych yourself out of the trade instead of just letting it work? I am guilty of that sometimes also. It happens. Let me guess, you had a decent amount of size on and it altered your mindset once the trade was executed?