TSLA Trade on Aug 19, 2022 09:30 from quanphan135: Tradervue User Stock Trades.

The set-up: Scalp/Momentum

Pre-Market Prep: 8/19/2022

Last Day closed: 908.61
Pre-Market High: 896.50
Pre-Market Low: 888.29

We have: resistance at 898; 900; 905, 910 (Important resistance level: 910 - need to break and hold to remain bullish break out – LONG)

We have: support at 893, 890, 885 (885- need to broke to remain bearish - if that a fake break down, watch for a reversal and go long).

Current Pre- Market Vwap: 893.86

Trading Idea for Scalper:

1) Bull Case: Not going to lie, but today will be a tough market to trade. General market is gap down, Tsla gap down 20+ points during pre-market open today. If I want to go LONG, there must a good reason, and a good reason that I can pick on my mind today if Tsla could going up above important resistance 910 and held the bids. Then, I will be interested getting LONG

2) Bear Case: By market open, I would like to see if price action is trading below the vwap and seller held ask at 894-890, then I will be interested to go SHORT
TSLA is not my stocks in play today. With that said, there is not a lot of things to trade, but I will try my best to using my scalping and reading tape skill to capitalize today.

My Stock In Play today to watch: MRNA, SNAP, AMD, VERU, BBBY, GME and AMC.

What I did Right:
1) My first trade was based on my setup - beautiful scalp
2) I read the tape

What I did Wrong:

I don't trade on my setup and refuse to exit my loss

On my second trade and from there, get the best out of me. I was extreme FOMO, I trust my setup would work and ofcourse, I was LONG as support and get a vwap retest. But it did not. When the stock broke the support level. Instead of cutting loss (That I should do, but I refuse to, I double down on those CALL contract, I keep adding and average a "losing position". I was not trade on my setup and chart anymore. I cut a huge loss at the intra day bottom. I was stressful during the trade, didn't not even care about my exit lost but thinking about how to recover and chasing PnL but not my setup.

With that said, I end up swipe out all my gain (August 1st until yesteday, everyday were GREEN). One FOMO trade, not on my setup anymore. Again, WIPE OUT MY GAIN. I will take this as life lesson. 3 weeks working hard green PnL and now back to square one!

DOUBLE DOWN will work 85% of the time. But on that 15%, if it not working, YOU WILL GET EVEN MORE LOST.

Where I could improve:

Lesson learned today, I will not promise I will never make the same mistake. I will try to HATE IT, HATE IT SO BAD, then future:

1)I will not going to DOUBLE DOWN on my looser anymore.
2) Whatever in the red number, if it not my setup anymore, I will cut lost with my exit plan and move on.
3) Whatever red PnL. I will respect the market price action and keep myself more humble.
4) Today was a bad day for PnL. But it's ok. One Good Trade, I had been improve myself everyday, writing journal, record video and watch my trading on the weekend, reading more trading book. AND this one trade is not the end of the world. IT WILL NOT GET THE BEST OUT OF ME.
5) I will prepare my mentally again, I keep it continue next Monday.

Trade grade: A++++ (This is a important day where I can learn and reflect myself as a day trader)

Video Trade Below