IMMX Trade on Jun 2, 2022 07:59 from madihahmansor: Tradervue User Stock Trades.

This was a former MOMO stock which was the main reason I took the trade as it gapped up during pre-market. What I failed to notice was how thick the Level 2 was and that pre-market volume dried up at the time I took the trade.

I also bypass my usual trade checklist as I jumped on this solely because it had high pre-market volume (in the millions at 8am ).
I was definitely forcing it in hindsight.
Its at $2.38 now. Stair stepping down.

My 1 trade a day.

PLAYBOOK TYPE
-MOMO (Failed)

MARKET RECAP
-Indexes are up today.
-Overall market still bearish.
-Someone important revised his statement into a 'hurricane' in the coming months.

INTRADAY FUNDAMENTALS

1. Catalyst = None
2. RVOL = 1245%
3. Average volume = 15.7M
4. Daily ATR = $0.40
5. Previous close = $1.77
6. LT chart =
7. Free Float = 5.2M
8. Shorts Float = 0.80%

TRADE PLAN
-The idea was to catch a bounce over VWAP = $2.65
-Marked resistance at $2.85.
-Stop loss of $0.10.

TRADE MANAGEMENT

-Executed my idea, cut loss at $2.55, exactly $0.10 of my SL.
-Bailed as soon as I realized that my idea was not going to work based on the Level 2.
-The stock sold off to $2.45 right before the bell ie still within my risk tolerance, and reclaimed $2.65 all the way to $2.75.
- It moved in a tight range and was not so significant, but I could have turned my small loss into a small profit if I hold on to it longer.
- I don't regret keeping a tight stop loss as it could have turned into a large loss if I hold on into the open.
-Churning fees as I am trading on small size.

READING THE TAPE
-Did not read the tape prior to entry despite having it on my screen.
-Should have noticed how thick it was trading.
-The tape was slowing down.

DAILY REPORT CARD

Daily Risk :$0.10

P&L : $-21.30 , fees included.

Weekly P&L Goal : $600

1. How Prepared Were You For The Open?

• Not really.

1. Profit Target vs Max Loss ?

• $30
• ($15)

1. Did I Define My Risk For Every Trade Before Entering?
   Yes

2. Did you remain patient with your trades?

   • Yes

3. Risk Management ?

   • A+

4. Psyche : Any signs of being on tilt ?

• There are opportunities like $RPTX ie another gapper that continued ripping after the bell. -The initial loss in this one affected me from catching $RPTX as I thought the losses could snowball. -I was not on tilt, but my fear did get in the way of taking another potentially good trade.

1. Did I take an A+ trade today?

   • D . No

2. Areas of improvement ?

• Get entry confirmation from Level 2 especially during pre-market .

P/s :I lost money multiple times trading this stock apparently. Just realized it after upgrading my Tradervue subscription.

In retrospect, setting aside a small amount of money would have saved me from making bad decisions.