Stock: CCL
Result: -1R loss
Strategy: ABCD
Long/Short: Long
Entry: 1Two attempts to find an entry at around 20.60.
S/L: Loss of VWAP
Why did you take the trade?: After a strong move up and breaking and appearing to hold VWAP this looked like a good ABCD entry. My first entry stopped out, the price then dipping back below EMA and returning up. I took a second attempt seeing this hold VWAP, but again stopped out and came off it.
What happened next?: I took a total loss of 1R on these 2 trades, as I kept my stop tight. The stock rolled over from here and didn't break VWAP, settled back down 40c lower.
How did you feel after taking the trade?: I felt ok. Not losing my shit anyway! You win some you lose some. I lost this but with a tight stop it was absorbable.
What did you do well?: Kept a very tight stop.
Questions?: So... Was this a good trade or not? Was I right to make an attempt, a second attempt? My rationale for going in was clear - the stock strong green on the day, after a strong run up, breaking VWAP and pulling back, appearing to consolidate right above VWAP. I had every right to anticipate a continued move up right? There will always be trade ideas that don't work out. Was this just one of them?