Shared by
e__r__o__
Plan
Max for the day $250
Max Loss for the trade $150
Why I Shorted
- Formed a triangle and broke down
- High selling volume
- qqq & spy were bearish
- below v-wap
- Broke below previous support areas
Why I Bought my Short
- Showed reversal pattern with a double bottom/matching lows
- Buying volume candles
- qqq and spy started showing bullish properties
- near 3 to 1 ratio
What I did right
- risk management was on point
- the trade itself was well executed
- I did a good job finding that triangle breakdown pattern
- Great job at noticing reversal patterns and taking profit
What I could have done better
- One thing I messed up with my trade was that I miss calculated my 3 to 1 ratio and if I hadn't done that I would have made about $500 instead of $349
- I also should have noticed the reversal and gone for a long
What I learned
- Pay more attention to the 3-1 win ratio
- Maybe add in a little feeler size on those reversal patterns after selling BUT also don't be careless just because you won. DONT LET IT GO TO YOUR HEAD.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-05-23 09:30:00 | NIO | sell | $15.800 | short |
| 2022-05-23 09:32:00 | NIO | sell | $15.730 | short |
| 2022-05-23 09:41:00 | NIO | buy | $15.430 | 0 |
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