Shared by
SchubyTrades
SETUP/BIG PICTURE
goal today was to wait for scan to pop. NVAX popped at 11:05 pm and ripped to a strong area of resistance.
missed the first entry, because I expected to reach 20dollar mark magnet and then pulled back very quickly and could enter. offered a second opportunity 20 min later shorting lower high/ failed follow through
ENTRY/SIZING
perfect entry. sizing was not optimal because i set risk at HOD and thus R/R was highly compromised.
EXIT
terrible exit. this setup is in my playbook and I know I have to hold it and let it work, saw it hundreds time and yet I covered way too fast, leaving all the $ on the table.... once again.
RISK MANAGEMENT
ok
PROCESS EXECUTION
very bad, very disappointed of myself. I know that I had to hold this winner and I didnt. This is why most of my trades dont exceed 1/1 R and this must stop. my process says in this setup, I must hold and I just ignored it.
WHAT I DID RIGHT : PATIENCE FOR THE ENTRY, DIDNT FORCE NOTHING
WHAT I DID WRONG : DIDNT RESPECT MY PROCESS.
TAGS : EDGE/SETUP/ENTRY/SIZING/EXIT/RISK MANAGEMENT/RIGHT-WRONG/PROCESS RESPECT/GRADE
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-10-19 11:29:17 | NVAX | sell | $19.110 | short |
| 2022-10-19 11:34:35 | NVAX | buy | $18.950 | short |
| 2022-10-19 11:37:35 | NVAX | buy | $18.780 | 0 |
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