Today, again, good job sitting and watching the first 5 minutes, I actually didn't see anything I liked once that 5 minutes hit. I didn't trade until 7 minutes in. I still had a few "No Strategy"ish trades, but better than yesterday
First trade was TWTR, I thought I was getting a 1Min ABCD, entered at break of prior candle, with stop below VWAP. It failed. When it immediately got bought up below VWAP, I thought it was still a good idea. Entered at the same price, got one partial and stopped out at BE.
Uber, I traded UBER well yesterday, I traded it horrible today. My first entry was late, my add was late. I tried short again right after I was stopped out when it dropped below VWAP and MAs again. As you can see, the dotted pink line was acting as support. So this was a bad trade idea. I then flipped long after getting stopped out, no real reason, just an emotional trade. Then I got in long again and got some decent partials. The last long I entered and immediately had doubts because of the 200sma. I thought "This is going to be resistance and and up being a double top. So I just exited the trade. The only good thing about any of these UBER trades is the last one, I realized I was just guessing and not trading and I exited, I also didn't just flip to short because of the double top/200SMA like I do sometimes, I realized I was trading like crap and stopped. The trade did end up running up close to .50 or so, but I'm still glad I wasn't in it, because It very well could have went right back down to VWAP instead of moving up.
MU, when I'm down, for some reason, I look to MU or AMD thinking I can just watch the spy and trade one of these depending on that. I chased this MU trade. It was too close to VWAP for a good R:R. I got a partial but still not happy with this trade. When it broke VWAP, I shorted again, got some partials, but I'm supposed to wait for a re-test of VWAP before shorting this setup.
ZM, then when I'm close to max loss, I look for big moving stocks in hopes of digging out with one big trade. This is a bad strategy. This was another chase, I should have entered close to VWAP or passed. I was waiting for the break above the prior candle, turned my head for a bit and missed it. I should have passed instead of chasing it.
I am very disappointed, but not discouraged, I am committed to fighting my demons and overcoming my weaknesses while building on my strengths (once I find some).
Thanks BBTFamily