TSLA Trade on Oct 4, 2022 09:36 from quanphan135: Tradervue User Stock Trades.

The set-up: Opening Drive Play/Break Out (Not Successful Break Out) 0.85R

When market is open, SPY and QQQ are GAP UP and continue their recovered. While, TSLA are sideway, for the first few mins. TSLA trading range on pre-market price that why for the first 5m I did not place any trade because there is no clear trend.

Only good thing is TSLA is holding 250 psychology support and trade at 252 (pre-market high). I wait for a pull back 251. Enter 2 CALL there, risking $1 to target upside $1 to $2. (2R play).

1. When TSLA holding 251 strong and going up to 252 (1R target, I scale out 1 contract)
2. I put my Stop Loss at 2nd contract at break even with hoping I could scale out at 253~ (2R), but unfortunately TSLA drop back to 251, hit my "Break Even SL" and I got a very small gain from there (not even 1R)

What I did Right:
1) I be patient at the open to make sure having a clear uptrend.
2) I identify psychology support 250 are holding strong
3) I have a good entries at 251 with a good R/R (If I sold 2 contracts without scale out. I already made 1.8R)
4) Execution based on my plan. Sell at my target and Follow Scale Out

What I did Wrong:
1) None

Where I could improve:
1) Keep trading opening drive play
2) Keep patient and identify clear trend before think about setup and entries.
3) Keep follow the plan either go my way or NOT
4) Keep hitting target at 1R - 2R & 3R
5) PLEASE HIT THE BID UNDER -2R (Focus on Risk Management)

Trade grade: A