Shared by
yoosh-simulator
I had done a bunch of back trading today and was feeling confident in sizing up with this 10 ema strategy. I have noramlly always done small size, but I was full size today. I also went for a 1.5 R because I have seen this work a bit more than the 1.2R
I was thinking of putting my profit target at vwap, however seeing how strong the morning was I was not sure if we would get down there.
It looks like it did though.
Either way follow my plan and I am happy.
+1.5R
Hindsight: COuld have set a exit level at the breakout retest level at $748
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-06-09 10:50:16 | TSLA | sell | $757.560 | short |
| 2022-06-09 10:52:04 | TSLA | buy | $753.450 | 0 |
Comments
yoosh-simulator
Yep you are correct, hindsight I could have held. The most I would have held to would have been VWAP at $750, I definitely need to work on my holding muscle to take advantage of these bigger moves.
A couple of reasons why I exited though.
1. Following my plan and keep consistent. My plan says 1.2 to 1.5 R is a sweet spot with very high win rate. I am now working on breaking that down a bit more to be able to take more of the move. For now though consistency is my game.
2. I thought the daily was strong bullish since we gapped up and already retested. I was excepting more follow through up. Obviously I was wrong.
JTRADES0
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What was your exit confirmation? I didnt see any reason, it was a strong downtrend so maybe for future trades you should draw a trend line and wait for it to break. Good entry tho. Goodluck