AMD Trade on Nov 8, 2023 09:38 from Dandres: Tradervue User Stock Trades.

One of those stocks that you watch

Open
- Watching the price action at the beginning of the market open, AMD was giving me a retract retest move. took first entry on the break and the candle action broke up higher. I waited on the new 5 minute candle to open, took second entry on the higher break and third entry on another retract retest move. The target was a higher daily level (idk which) with a good risk to reward at the point. Mistake here was not following my break of mini consolidation rule where I get out when the consolidation breaks against me and that was around 114.90.
Reflection
- 3 indicators? Yes, first entry called for, the price action was showing a retract retest move that had broken out from 114, first entry on break of that range.
- Scaling? The price action continued to rip up, typically I like for the price action to close and hold a level before scaling so I did just that, price action held above the level and close. I took second entry on a the 115 sustain and the target at that point was 119. Price action did another retract retest move around 115 where I opted to take a third entry.
- Partials? No, price action rejected.
- Risk management? Here is where it went wrong. Since im practicing taking the emotion out of my trading I noticed it affected my decision of when to stop out... I know what to do now. My tactical decision to get out should have been right below 114.75. Took a small loss here but it could have been a much smaller loss.
- What went right/wrong? Purely traded the signals up until my stop loss. My stop loss should have been around 114.75, it carelessly let it continue to 114.5. Had the right intentions on this trade at the beginning but did not execute this 100% technically.
- Acceptance Yes, I accepted the trade on the line, stopped out and did not take it personally. The acceptance has made me accept this small loss but talking from a purely technical standpoint, my loss would have been smaller having followed my break of consolidation rules.