SOFI Trade on May 12, 2022 11:19 from randoman24: Tradervue User Stock Trades.

possibly my best trade of the entire day. not in gains but overall execution and plan

This and FB were the only two trades I had planned before opening and both offered the short but I only grabbed this one.

5.80 was a multi-top level and SOFI had been rejected hard 2x already. this compared with QQQ running into minor support @ 356. Had one of its highest volume candles right at 5.50 and then all volume fell off and diminished showing capitulation in some manner. Got in at 5.75 initially w/ 100 and then realized my size should have been at least 2000 shares. but in this case, I increased my size to 600 after seeing 5.80 held on the first attempt.

Covered half at 1:1. Covered 100 2:1. Covered 100 at 3:1. Covered the last 100 at 5:1
Although it was a good trade I should have been able to hold some for better prices. Don't get too antsy when taking profit when it has worked in your favor. Many times it works it tends to completely retrace to VWAP which then would have turned into the last 200 shares at 5:1 or 6:1

Review: good Entry. I like scalping half 1:1 or at 1:1.25ish due to slippage. then an initial 2:1 is good. After that you should be looking to get some really good prices in the case it works in your favor. I don't mind the cover at 5.51 due to psych levels but the scalp at 5.61 should have never happened. 8/10. Late Morning Reversal.