AMZN Trade on May 3, 2023 10:10 from Dandres: Tradervue User Stock Trades.

PREMARKET
- Not on any premarket scanner. Its been moving previous days.
- ATR: 3.5$, MC, ETB.
- No bias, plan to just watch the price action resolve above or below VWAP.
OPEN
- First Trade: I waited for the right timing, the move to the upside looked extended to me and at no point did I see a good entry with decent R:R and stop loss. I got in when the price action was curling downward below VWAP. 1 min and 5 min candles gave me confirmation on entry. I stopped myself out early because it started showing candle action against my trade (1 min candles making higher highs/lows + bullish 5 min candle.) 25c loss that could have been 65c loss PHEW! Good call.
- Second Trade: Same thing, I couldn't see a reasonable entry on the upside move after it stopped me out and the reversal candle was just one big 5 min candle mark (I like multiple candle confirmations). I got in on both 1 min and 5 min confirmation for the break of VWAP but didnt get to scale in all the way, only first entry of 24 shares. I got out 30c later for base hit win.
- Third trade: Later in the day, saw the price action approaching VWAP and making doji like it wanted to curl down which it did BUT my aim might have been too stretched for 2R because it very easily hit the 1R. I help holding and eventually stopped out 30c loss on 96 shares.
- Forth trade: A bit after that, it felt like revenge trading, luckily I got out break even but at that point I violated my rules.
REFLECTION
- Honestly, my first 3 trades were good with REASONABLE entries and stop loss, really lucked out on this one. Only one of them resolved for me and the 2 others I could've been green if I had just changed my reward target because at certain points I was either 20c or 40c up but was waiting for more.
- I think the reward target is okay, maybe I have to reasonably modify my tradebook target points MAYBE.
- The last trade of the day was not good at all, I should have not taken that trade at all. At this point I was revenge trading since the previous day I had also been red.
- I think I will revise my VWAP trade book for profit targets to be 1R, 1.5R and then higher target (base hits, not big winners) because I do my best to take the best entries.