IFRX Trade on Apr 6, 2023 09:56 from Dandres: Tradervue User Stock Trades.

Premarket Research
- I saw this stock moving in the premarket, added as part of my watch list.
- Saw levels of resistance near the $6.15 mark.
During Open
- The level fell below the VWAP and started to double bottom at certain levels below the VWAP.
I was trading the 5min chart and using the 1 min chart for precise entries. Up until 1030 the entries had reasonable levels of support and resistance.
- I jumped into the trade at $6.07 a new high which was a mistake because the highest the candle ever went was $6.15. I sold all and bought again between the half way point between the VWAP and the previous high at $5.91, then I ride until i got stop out 10 cents lower. MISTAKE! Gave up all my gains due to getting in late and chasing the stock.
-Set good stop loss points but bad entries.
Reflection
- This would have been a much better ABCD trade if I had caught the pattern.
Good
- The first couple trades I took for the day on this stock were with reasonable entries and exits. I need to get better at placing better entries.
- Good stop loss points.
- Good share price and size.
Bad
- Bad entries after 1030am.
- Maybe overtraded, definitely chased the stock after jumping in at $6.07.
- Traded P&L instead of good trade execution.
- Shaky order placing.
I saw support at $5.50, put stop loss at $5.44 and resistance (target) at $5.60, I didnt see the trade resolve for 15 mins so i got out BUT then the trade DID resolve to $5.60 and I missed out (2:1).
- Risk to Reward could have been better.