Shared by
xmadmike
The set-up: First Green Day, Gap and Crap Reversal
What I did Right: Sized in with at least 1:3 Risk:Reward (First entry 1.4, second entry 1:8)
What I did Wrong: Didn't recognize the lower highs and fading volume, which is a bearish trend. Didn't analyze the daily chart correct. ToS is set a 6 month daily chart which doesn't show multiple gap up and fades around $7. As a result, this was missing in my calculation of trade grade.
Where I could improve: Wait for the right signals, look for better R:R. Look back 1 year and more.
Trade grade: D
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Big-picture: Biotechs are hot. This stock has little dilution.
Trade parameters: Risking off 5.95 LOD ($10)
Entry: Long Avg 6.30 40 shares
Entry 2: Long Avg 5.75
Trade Management: Stop Limit on quote risking 5.95
Exit: Alot of slippage, stop was skipped when it cracked support immediately dropped to 5.70s. Need to use a lower limit to protect myself from these big cracks.
Exit 2: Not as much slippage as before, but used a wider stop to avoid issue from before. Exit was executed correctly.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-12-12 09:43:00 | APVO | buy | $6.300 | long |
| 2022-12-12 09:43:00 | APVO | buy | $6.255 | long |
| 2022-12-12 09:47:00 | APVO | sell | $5.770 | 0 |
| 2022-12-12 10:01:00 | APVO | buy | $5.740 | long |
| 2022-12-12 10:01:00 | APVO | buy | $5.775 | long |
| 2022-12-12 10:05:00 | APVO | sell | $5.500 | 0 |
Comments
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This stock was a choppy as hell, what a bitch to trade.
Ended up being small green on it, not worth the hussle imo.
Hoping for some clean momentum like we had on Friday on $AMAM.