AMD Trade on May 11, 2023 09:37 from Dandres: Tradervue User Stock Trades.

Premarket
- AMD was not on any scanner but its been a recent runner and so I was automatically on the watch list.
- ETB, ATR: $4.25, MC, 100 shares.
- The plan was to watch for the run back up to $100 from the previous day BUT to trade the technical levels regardless of the bias.
Open
- At the open the trade gapped down significantly and seemed very weak below the VWAP, at some point it stared to curl back to the VWAP on some strong momentum and volume before the end of the 10 min orb. I was FOMO and jumped on the candle confirmation.
Trade 1: Jumped in on the 1 min candles even though the 5 min candle had not developed yet. Really should have waited because right off the start I got stopped out first entry size. The 1 min candle confirmation was there BUT the OR had not died yet and the 5 min candle had not been developed, this was a mistake. I trade best on simultaneous candle confirmation so why did I get in?
Reflection
- Definitely jumped the gun. The 1 min candle confirmation was there yes but the 5 min candle had not even closed at that point and there was no previous 5 min candle to support my idea so why?
- Lesson learned, dont jump the gun, you trade better on simultaneous candle confirmations AND previous supporting 5 min candle.
- Good on respecting the stop loss and setting reasonable levels because it did indeed drop down lower after that.
- Good on taking only one entry for the movement. See the stop loss below and target.