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Cesar

Looking for feedback on my first Simulator Trade

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Cesar

Good morning, 

Maybe and experienced trader can give me some feedback on this trade? Thanks a lot in advance.

1 - I decided to trade NIO for no particular reason just to see if I can apply what I learned. 

2 - I marked levels of Support & Resistance on the daily chart. Keep that as a reference for entry & exit as Andrew suggest on the book.

3 - Entered the trade based on the 1 Minute chart at $10.55 - 9.33 AM after three red candles approached my support level marked on the Daily chart,  my Stop would be $10.45

4 - Two minutes after went down to my entry price. I was ready to stop it, but I watched increasing volume coming up.  My stop was $10.45, my risk reward was 2-1, wanted to risk $.10 to make $.20

5 - I sold at $10.81 at around 9.38 AM based on the fact it reached the 200 EMA

6 - After profit taking I see it is holding above the 9 EMA on the 1 minute chart and entered again with a profit target on my resistance level.  In at $10.90 out at $11.14

My thought of process was based on levels of support and resistance, volume, 9 EMA & VWAP and risk management. Please if someone can review this would be great, I coming from chasing, bag holding etc and this is the first time I am approaching trading based on education. Working on the Psychological aspect of trading as well. 

Pictures are attached with my entries and exits. Thanks a lot, feeling great after finding about Bear Bull Traders. Enjoy your weekend!!

 1547355804_ScreenShot2022-11-12at08_44_42.thumb.png.c73bd9c0fdd1c479cc247f99b4d64922.png

399079205_ScreenShot2022-11-12at08_44_07.thumb.png.c8806c198134546095277192d3ec78a6.png

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