COIN Trade on Apr 19, 2023 09:55 from Dandres: Tradervue User Stock Trades.

Pre-market
- This stock was gap down pre-market.
- No specific catalyst but it was making moves premarket.
- 180 mil float, $5.20 ATR, 372k volume, price range %65.
- Was trading under the VWAP, was planning to get in on it close to the VWAP.
- PLAN A (short)
- if comes closer to VWAP and stay below VWAP -> SHORT.
- Target entry to get in around $65 target $60.78 (even though I was aiming for 2.5 dollars.
- Stop Loss: Daily level of $65.50s.
- R:R close to 5:1.
- Plan B (long)
-if moves up to the VWAP and stays above the VWAP, MAYBE LONG to $6.50.
- Confirm maybe with break of HOD.
- Entry: Around $65 to $65.50.
- Stop Loss: Significant level below the VWAP.
- Target 1: $65.50, target 2: $66.73.
OPEN
- Around the market open the stock jumped above the VWAP but I was waiting for the 5-10 min ORB to die. My confirmation was THERE to enter on the 3rd 5 min candle but I dont know why I didn't get in on it, I guess I might have been slow to recognize the pattern.
- I didnt follow my plan to get in near the VWAP. I got almost like 90c lower than I should have because I thought the stock was going to move down closer to the $60.78 level.
- I got stopped out when it reversed back to the VWAP. But I definitely didnt get in at the best spot that I could have.
- I did see it go approach the VWAP again, I sized in 20% of my total share size first and waited for the confirmation of resistance at the VWAP level, when it gave me confirmation I size in with my full share size but im not sure if I scaled in too far from my initial size but then my average price got wonky, the stock did end up going down. When I tried to take partials at $64, it executed at $64.24. A 24 cent difference from where I wanted, which was ridiculous. I added again when the new candle was going lower, and eventually took profit around $63.70s.
- The stock started to reverse back up to VWAP and I believed it was going to hold below it again and so I ended up shorting. I got stopped out when it broke and went upward.
REFLECTION
- Definitely need to work on pattern recognition. I couldve been in the trader earlier in the day and out of it with profit.
- For reversals, I believe its best to get in where there is a previous 5 min candle in the opposite direction showing strength to the opposite direction. This would have kept me from shorting it again when it was on the uptrend in the 1st and 2rd attempt of shorting.
- Most trades should work right away. These positions im holding for very long.
- Lets develop a new habit of getting in with smaller share size in the afternoons. Its because volume dies, patterns may not be as easy to develop as in the morning.
- Did I revenge trade on this? I dont think so, I just jumped in when I saw something.
- I think I did decent with the stop losses/break evens.