Date: 1-5-21
Stock: AMD
Strategy: ABCD
Long/Short: SHORT
Entry: 92.49
S/L: 92.28
Risk: 0.21
Plan of attack:
- ABCD.[ it was a stretch]
- Take profit at/ near 1,2, possibly 3 R.
Why did you take the trade?:
- Consolidation on the 2 and 5 min chart.
- 5 min chart holding VWAP/ 2 min chart tested the 13 EMA.
How did you feel after taking the trade?:
o Pretty good I took most of my profits at good R:R.
o Entry was pretty good.
What did you do well?:
- Taking profits
-Waiting for a good entry.
What can you improve on?:
- On a stock that isn’t in play or doesn’t have any news, I should not look for a 3R. ( even though some stocks that aren’t in play in the morning can have solid moves.
-5 min and 2 min chart had a decreasing volume , nice shooting star indicating weakness on both charts. Chances of it going higher where not in my favor.
- Taking this trade distracted me from making a solid entry on a pull back on MU[ which was a stock in play]
Question:
- Criticize away!
- How many stocks do you have on your screen at once? Ive found when I practice and I only watch one stock I usually make good decisions and better execution on my trades. However I don't want to miss out on a opportunity elsewhere just because I watching a different stock in play. Any advice/ opinion?