Nothing attention grabbing moving in premarket
- One of those stocks you watch on quiet days.
Open
- Was watching the opening 5-10 min OR to see some resolution to a specific side. 5 min prior to entry the 1 min chart was showing bullish 1 min candles developing to break the VWAP.
Trade 1: On the open of the new 5 min I saw the added support and VWAP break intention, I got in right away at initial size and didn't get a chance to scale in at all, took first 50% partial at around 1.2R and PD highs, the next at candles to the upside.
Reflection
- It was a nice trade, I really should have held my winner. I had a daily level set at $175 and the stock approached 175 very closely after I had gotten out. There was really no reason to all out because the trade was resolving and was in my favor the whole time. This was a mistake, really stop myself out too soon.
- Risk management was good, with setting the stop loss and the profit targets.
- I have ROMO with this, I need to let my winners win, base hits are nice but obvious winners should be held for at least the last partial. Lesson learned.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2023-05-17 09:40:04 | TSLA | buy | $168.040 | long |
2023-05-17 09:40:31 | TSLA | sell | $168.970 | long |
2023-05-17 09:41:11 | TSLA | sell | $169.480 | long |
2023-05-17 09:42:09 | TSLA | sell | $169.430 | 0 |
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