Garbage trade: I was expecting support to hold at $7.75 and looking for continuation back to and through the high of day. I failed to recognize that this was the third pullback since going red to green. The entry to trade $INO was the pullback into the tradeline over the initial morning high. Anything after that was a low tier entry. I should only be taking premium entries and should not have made this trade. The setup was weak at best.
I like that price was holding $152.66 and started moving away from that level. Again, not a great setup considering all the resistance from earlier in the day. I entered the trade but quickly realized this trade was sub-par and immediately exited as soon as that occurred to me. Another trade I shouldn't have taken.
$AAPLI first got short with my stop at the high of day but entered way too late. I did take into consideration that the move I was anticipating was down to $240, so there was plenty of reward to my risk but still, should have entered sooner. I should have just left this alone and let the trade work itself out. Instead, I added when it tested VWAP and failed, then moved my stop down to the high over VWAP. Dumb move. I stopped out. I then got long thinking this was going to make a move back up and over the high of day. Again, dumb... My initial trade idea hadn't even failed yet.When we broke through VWAP to the downside I thought, screw it. I should have stuck with my initial trade idea and set my stop over the morning high. All I had to do was leave my first trade alone and it would have been a nice winner. Why I sold this off so soon? I opened my P&L and saw I took myself back to green an closed it out rather than finishing the trade and making more money.
I don't even know where to start with this one... I never trade the morning drive but today, for some reason, I entered my first trade like 4 minutes into the day. I was expecting $140.68 to hold as resistance and had my stop directly over that level. I stopped out. Then I figured we'd test the initial morning high, $140.68 area, and VWAP and fill the overnight gap. I realized that was dumb and closed the position for another loss - small loss but another loss none the less.
Next I got short expecting VWAP to hold, looking for a move down to $128. VWAP broke on increasing volume so I stopped out. My stop should have been the high of day.
When we broke through VWAP again I looked at my reward vs. risk for the drop to $128, set my stop above the morning high, and got short. I feel like I scaled out of this trade well and should have left it there.
I thought we might be making a lunch time move back up to VWAP from that $131 level so I got long, realized I was being a dope, and closed the position.
Then, when price failed the $133 level a second time I re-entered short for the move down to $128. I started pealing pieces off and when the tradeline failed to hold it down, I closed it out and took my final profit.