AMD Trade on Nov 8, 2023 09:58 from Dandres: Tradervue User Stock Trades.

One of those stocks that you watch

Open
- Trading AMD on good indication for a break to the downside. The level had developed a retract retest on the 5 minute chart which was positive and indicative of a break down. Took first entry on the break, the level flushed strongly, I took my second entry. The level held sideways for a bit until it developed a mini consolidation and retract retest move that came down to break the 114 level for a third entry. I let the price action play out since it continued to confirm the downside move. Took additional bonus entries on even further confirmation and level break down, retract retest and lower level breaks. It resolved very nicely and i continue to let the winning trade win. The target was 111.62 which was a really nice risk to reward from my entries. This was also partly why I did not take good partials at the bottom of the moves... I was waiting for the BIG move... For some time the price action moved sideways on the 1 and 5 minute chart where I opted to cover most of my position since it no longer was giving me downside indication. The price action flushed down out of nowhere to the low of the day. Took partials on the move back to the upside.
Reflection
- 3 indicators? Yes, first and second entry called for, very positive retract retest that had broken down.
- Scaling? Yes, good scaling on indication.
- Partials? First exit was on indication that the move was no longer resolving to the downside, it can be seen on both the 1 and 5 minute chart showing the price action slowly climb up, covered half the position to manage the risk. Price action broke down, I was blinded with the 111.62 target that I refused to take really nice partials at 113.2 where I was given the opportunity on both of them. Instead I took partials where the price action was already reversing.
- Risk management? Good risk management, scaling on indication, scaling out on levels not supporting.
- What went right/wrong? Scaling, risk management good. Blinded by the 111.62 target for a larger reward that it ended up cutting my earnings by ultimately getting out on the reversal indicators instead of the lows of the trade. Good trade but really could have ended with a much bigger winner if I had been trading the NOW levels and not the COULD BE levels. This is the emotion that took control towards the end.