VNET Trade on Jun 29, 2016 13:21 from Louie: Tradervue User Stock Trades.

General Comment/s:
-Stock just dropped and kept on dropping. When the price action started to look interesting, I started looking at it.
-Reading the tape told me that there is more room for this stock to go down but if I go short at the price when I started paying attention, It would be too late. So I fought the gambler in me and told myself to counter trade. Patiently wait for an opportunity to go long.
-The opportunity showed up after a big massive red volumbe bar followed by a wave of buying.
-The buyers bullishness (or shorts covering) got me interested. Waited for a pullback to see how low it would go (it might be a breather for the stock and just head lower)
-So when the price action showed higher lows and buyers getting aggressive, I started to go long using only a small size so I can have a wider stop.

Plan: (LONG)

Setup: DCB

SL: 9.1 (lows of the recent pullback)

PT: 9.6 (VWAP)

Final thoughts:
-Exited the trade .02 earlier than my PT because the stock just paraboliced towards it. I got scared. Also 9.6 was at the VWAP area so I am sure there would be shorts and profit selling at that area. So told myself to go against the herd and set a hard SLO at 9.58
-Got taken out for a nice % gain.
-Wanted to cut this trade off when the stock just started pulling back after my entry. A part of me is convincing me that it is a bull trap and that the stock will just head lower. But I convinced myself that because I only have a small position, I need to give this idea some time so there is no point exiting the trade when it haven't hit my stop.
-It took some courage not to micromanage the trade. Wanted so much to just exit for a small gain (around 9.44-9.5), but I defeated the urges and just convinced self to sit on hands.
-Hopefully I am a stronger trader tomorrow

Hindsight:
-Risk versus reward is 1:1 bad bad bad!