7 minutes into the open and decided to enter VKTX on a 1-minute pullback scalp setup with 200 shares. The problem with this trade was a poor entry on an extended move on the 1-minute chart. The ideal entry would have been down at around 2.94 after that first 1-minute pullback, but that entry was below its moving average resistance. I should have been more keen on trading a more quality setup. I should have been more keen on trading a cleaner chart pattern, on a stock with less volatile whips. You managed to scale back on the size and stop out within approximately your 5 cent stop target, which was good. However,this volatile stock was not an appropriate one for you to have risked your small account on, which cannot afford to take on large losses like Ross's can. The day ended up with a net loss of about $50.00, which was is much better than the losses sustained from the day before.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-12-07 09:37:56 | VKTX | buy | $3.100 | long |
2017-12-07 09:38:23 | VKTX | sell | $3.060 | 0 |
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