Shared by
Dandres
Trade 1: VWAP (Loss)
Trade 2: Reversal/VWAP (Win)
Trade 3: VWAP (Win)
Trade 4: MP (Loss) Previously the stock rejected at this level beautifully and I thought I might be able to catch something like that again on a mountain pass move. I had a tight stop right about the high of day. I added first entry on consolidation candles moving ever so slightly downward and the second entry after the bigger 1 min drop from these highs. The candle curled up and stopped me out BUT did break back down to the VWAP after that and I lost out on this MP move.
Reflection
- Your stop losses can't be that tight. The wick broke the high of day by 15 cents and immediately after dropped down. On a quicker and wider moving stock like TSLA you need to allow for larger risk BUT while taking smaller size.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2023-05-18 11:45:57 | TSLA | sell | $175.250 | short |
| 2023-05-18 11:50:06 | TSLA | sell | $175.280 | short |
| 2023-05-18 11:52:20 | TSLA | buy | $175.700 | 0 |
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