BAC Trade on Apr 14, 2023 09:43 from Dandres: Tradervue User Stock Trades.

PREMARKET
- This wasn't on my scanner but they were speaking about it on bear bull trader premarket live. It had some nice moves in the premarket and was looking really close to the VWAP for a possible downward move below the VWAP.
- Didn't have specific catalyst but banks were moving 1. Because JPM reported significant profits over their expectations 2. The FED.
- Drew daily lines and planned my entry & targets & stop loss.
- My plan was to get in after 5-10 min OR when the stock was trading under the VWAP and then ride it downward to the daily level $29.07.
Open
- TO ME, the stock moved weird and I say that because it broke though VWAP no hesitation at 3 mins and then came down back below VWAP. Its like if it had no respect for it, it was trading below and above the VWAP in the 5 min candle, thats why I couldnt figure out the direction it was preferring.
- My first mistake was shorting half way below the VWAP already --> destroyed my R:R ratio but regardless I was still in the trade, RISKING my money for 1:2, not good and got stopped out 3 mins later right below VWAP.
- Then when it was above VWAP, I got in for long when it was already extended above VWAP, it destroyed my R:W.
Reflection
- I sort of was distracted before the premarket, Sandra called me and seemed like she was upset with me, and I was upset that we were bickering for something so little. My focus was off.
- I definitely did not get in at the proper entries, I think I just wanted some action and an excuse to get in. Its more important to know when to avoid a stock than when to trade it
- I dont know how much I like mega float, maybe I should stick to the medium floats + REAL catalyst.
- If i had seen that clear double bottom at the $29.25 mark, I may have been able to trade it better MAYBE.
- Positive notes, good share size.
- Lesson
1. Know when to avoid, losing traders are the bored traders that get in at any moment. You must look for the BEST entries and BEST R:W.
2. Dont get in super extended.
3. Dont add on your positions when youll average yourself up/down against you.
4. PLAN YOUR IF THENS!