Shared by
dpaleo
Tags:
sure one of the stronger names out there but 5min reversal candle with SPY SPX showing sellers in resistance zone entry was easy
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2022-09-15 10:20:32 | UBER | -400 | $34.130 | -400 |
| 2022-09-15 10:20:32 | UBER | -500 | $34.120 | -900 |
| 2022-09-15 10:20:32 | UBER | -100 | $34.125 | -1000 |
| 2022-09-15 10:27:25 | UBER | -450 | $33.950 | -1450 |
| 2022-09-15 10:27:25 | UBER | -50 | $33.940 | -1500 |
| 2022-09-15 10:29:57 | UBER | 200 | $33.820 | -1300 |
| 2022-09-15 10:30:15 | UBER | 200 | $33.780 | -1100 |
| 2022-09-15 10:30:41 | UBER | 200 | $33.830 | -900 |
| 2022-09-15 10:32:59 | UBER | 200 | $33.680 | -700 |
| 2022-09-15 10:35:28 | UBER | 100 | $33.630 | -600 |
| 2022-09-15 10:49:29 | UBER | -100 | $33.720 | -700 |
| 2022-09-15 10:50:59 | UBER | 100 | $33.530 | -600 |
| 2022-09-15 10:52:51 | UBER | 100 | $33.530 | -500 |
| 2022-09-15 10:56:36 | UBER | 100 | $33.430 | -400 |
| 2022-09-15 10:56:41 | UBER | 100 | $33.380 | -300 |
| 2022-09-15 10:57:13 | UBER | 100 | $33.330 | -200 |
| 2022-09-15 11:11:52 | UBER | 100 | $33.180 | -100 |
| 2022-09-15 11:19:58 | UBER | 100 | $33.450 | 0 |
Comments
dpaleo
Hey Andy, been traveling and now in Aspen for my brothers wedding. Get back Sunday night so will get back to you next week. Trade em well
AndyBhanver3
No worries Paleo! Enjoy the wedding and congrats to your brother and the wedding! Will be here waiting for your return, thanks paleo!
This is a great question and like everything in trading, its nuanced. The two stocks you mentioned were META TSLA. For those I am def watching SPY QQQ as well for any levels. For instance if there is a big resistance level in mkt a little higher and it feels like we are heading there then i will either place a very small offer into my META TSLA level and wait for indicies to get to level to nibble some more. If mkt rejects as expected will then add more, with possible a final add on 5min candle close below the META TSLA level identified. For less correlated names i m basing it on how far and fast has it arrived to my level. The more extension, volume, etc the more likely i am to offer into the exact level. If there is some doubt i m more likely to hold off on offers and react to candles once it arrives to area.
really depends on a lot of different factors. but as you've seen i m not afraid to enter, then take a partial stop if goes higher, and re-add if does eventually fail a specific level.
there are sometimes were it does eventually work but not after chopping around that level for a bit exhausting me out and leading me to take the loss and missing the re-entry. Just gotta accept that its gonna happen, not get emotional about it and move on to next trade.
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Hey Paleo, its been a minute since you posted, I do check daily if not every other day, hope all is well. I have been focusing on my learning curve when it comes to trading and I have a question for you when you trade fades. The other day I saw meta come into the 149 level where I wanted to short but first I wanted to see the reaction at 149, we ended up hitting 148.8ish and then selling off aggressively, I missed the move, Then today tesla came into 310 where I wanted to short, we started to reject 310 and I went short, then we broke out into 310.5 where I stopped out and then stock reversed back down, my question is, Lets say you are looking to short an overextended stock at a level, we could reject just right before the level, or right at the level, or even pop above the level and then come back down if we have like a zone for example, so How do you decide when trading before a level, at the level, or above the level? You could scale in at all three of these points, or you could just stick to your plan if you want to short at the level and you are okay with missing the trade if we end up rejecting a little bit right below your level or you could take two trades maybe short before the level with a stop above but look for a re-entry if we reject a bit higher like a fakeout over the level and this reduces your risk because you cut the trade around the middle and get a better re-entry above instead of holding to see if it rejects a bit higher, Now you could wait for confirmation of a rejection for sure, I guess your win rate would be higher but then the risk reward on the trade is skewed because you are entering after its rejecting and the stop loss needs to be wider. I am more of a risk reward trader than win percentage, I would love to hear your thoughts, it seems like you wait for more confirmation and then take the short with a higher win percent with a wider stop but you also scale in when the trade works so although with a wide stop you still can still take a small loss as you dont have a full position as you scale in as the trade works, but how do you go about shorting a stock if sometimes we reject before the level, or sometimes even pop above it and come back down?