RVOL: Possibly >1.5
pmVOL: Possibly >50 K
avg Vol: > 1M
Vol @ Day : > 1 M
Gap: If possible but not strictly needed
Long Term Chart : Possible Pocket, trend already defined and strength.
Float: > 20 M
Short Float: Possibly >40%
Institutional Ownership : Possibly > 100%
History of Gap Follower: Neutral
History of former runner: Possibly YES
Major ETF movement and strength: Possibly Trending with strength
ARNC is the example of what I was talking about in the last trade. Rejection but it supported really good the levels staying in my stop. But also in this case the movement hasn't been what I WANT!! That rejection could have lead to a fade below VWAP. I miss again an opportunity but I have reduced to the minimum my risk. Today hasn't been my favorite trading scenario. My stock selection didn't perform that smoothly. I prefer to be out or more cautious those days, while being more aggressive when alignment with price action will grant a clear easy move!!Perhaps I could have let it go but I NEED TO BUILD A CUSHION FOR MY ACCOUNT TO GROW!!! I will need a base to rely on if I want to be more aggressive. I will risk what I have made, as I did at the beginning of January but having the wrong method. Now I will rebuild this basement again and try to push then with the right attitude.
Stop Loss
-0.25$
The trade would have worked at least partially but I need to back test if I should let it run against me even if I have got "what if" and signs of reversal or stop it and base all my profits to few trades that will match with my requirements.
For instance if my entry would have been at 10:06 I would have got my requirement fulfilled.
Perhaps my mistake has been in urging my entry not considering that an area of consolidation with up trend patterns would have been the right approach to the breakout.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-22 09:58:11 | ARNC | buy | $16.940 | long |
2019-01-22 10:01:16 | ARNC | sell | $16.940 | 0 |
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