AMZN Trade on Oct 21, 2022 09:44 from quanphan135: Tradervue User Stock Trades.

The set-up: Opening Drive Play / Morning Break Out

When the market is open, I see a lot of strength on AMZN compare with the Market (SPY & QQQ) and my watch list. Seeing this, I decided to pick AMZN as my first stock to trade today. AMZN also offer alot of great R/R based on my T/A and Chart.

Seeing AMZN reaching to 116.20 (resistance zone), pull back into 115.40 (above 115.12 opening price level). Offer amazing R/R with market bullish trend. I decided going LONG at 115.40, I am risking about 30c (Hard SL: 115.12). Target upside (116.40) (3R play). After entries, I am patient let the trade working out but still focus on monitoring by watching the tape and charts and price action.

After reaching to 115.90 - I scale out 2 contracts. Moving my SL to: 115.60 and BAM automatic hit my SL (@__@) . This is a mistake move because I SHOULD NOT VIOLATED MY ORIGINAL STOP LOSS! (This is part of my human mistake need to be fix)

What I did Right:

1) Identify strength when market opened with the relative stock (AMZN)

2) Find entries and exit and executed without FEAR but edge and system (offer great R/R setup only)

3) Scale out based on my target plan

What I did Wrong:

1) Moving Stop Loss/Changing Stop Loss too fast
2) Selling also too fast.

Where I could improve:

I still thinking moving stop loss and changing stop loss to continue scale out my position and hold winner running more its the right strategy. But I am not yet experienced with moving STOP LOSS. I am thinking that my moving happened to quick and I happen to be more patient with few candle and price action and moving based on that ( NOT MOVING MY STOP LOSS BASED ON PnL)

Trade grade: A-