AIS 0800, 6 hours, 7/10
Time to button down and stick to what I know
PAT: Over-trading outside of playbook. Take a full size position when its an A+ setup
I had way more patience today doing a little visualizing during meditation as Dr. Katz recommended
I felt very good about my first trade but only wished I would have taken a partial at HOD. I was given the opportunity to reduce risk on a small bounce so I took it.
After It failed I said I was not going to trade anymore till after 1100. I talked with Ted about it and now realize I should not penalize myself for a good trade that did not work out. So I will change the rule to one Bad trade before 1100. There was no reason that I did not take the trade again on the bounce of VWAP right after it failed.
Second entry made another ABCD on the 1min for a small entry and I added once I felt better about the trade. Took a partial and it came back to stop me out by a couple cents.
I reentered again when it came back through the 20ema and added on for a double size position, not out of hope but on L2 action. was able to get 6 partials but I never had a chance to add on so I was left with a tiny share size so I doubled the size bringing my BE still to a decent level.
I only exited the trade because I had to leave to take car of my other business.
Cons: Bad Rule kept me from taking the trade right after I got stopped out. This is changed starting tomorrow
Pros: had the patience to wait after my Visualization and meditation this morning
PB Trade: SQ
Looking to learn and therefor I am hoping for some feedback.
Stock gapped up in the pre market
First trade, I thought to have spotted some weakness even though the stock gapped up. I could get nice entry on the 1 minute on breaking that MA, and therefore I want in.
What are your thoughts?
Second trade. I could get a nice entry on the 1 minute on what seemed to be a potential break of the VWAP. A bit later the pattern seemed weak and therefor I stopped out.
What are your thoughts on this entry?
What are your thoughts on me stopping out? perhaps I should have waited untill I have hitted my hard stop loss on 16,45?