SHOP Trade on May 4, 2023 10:17 from Dandres: Tradervue User Stock Trades.

PREMARKET
- This was on the gap up list in the premarket up about 20%.
- ETB, ATR: $1.50, MC.
- The premarket candles showed a huge jump, and it was well above its daily levels and so the thought process was to wait for the HIGH and possibly do a mountain pass move on it back to the VWAP. It seemed like overbought conditions.
OPEN
- I waited the OR range and wanted to see the stock slow down around a certain unknown HIGH price level. The plan was to wait for drop down but also for a move that approached back to the HIGH of day BUT didn't break it.
- TRADE 1: I entered around the 58.25-58.67 and eventually averaged around 58.27 at full size. The trade did at some point move down past 57$ but I was waiting for at least 1R to partial 50%. The stock over the course of an hour moved up to the HIGH and even broke it and stopped me out with the biggest loss ive ever taken so far.
- Stopped trading for the day.
REFLECTION
- The entry point is SO IMPORTANT. I dont mind that the trade went against me, I mind that the loss was so big due to the R:R ratio. There were several instances where the R:R could have been 50c lower.
- Do not make a trade with a VERY attractive R:R. I wouldn't have minded being stopped out at 2:1 instead of 1:1, my loss for the day could have been almost HALF if I had just got in at a MUCH better entry point which was shown several times.
- MP needs very very good entry and the stop loss MUST be right above the high of day by a couple cents.
- You couldn't have known the stock was going to move back up BUT you could have controlled your entry and scale ins MUCH better.
- ONLY TAKE BEST ENTRIES and BEST R:R.