My first trade was shorting Apple from pretty much the same setup as yesterday. I started my short just under VWAP and my stop was just over VWAP. I set a mechanical stop at $$269.50 but the dollar amount was arbitrary. It was more or less just a good place to put my stop if price broke through and above VWAP. When it came through and started putting a second bar in I figured there was no sense waiting for my stop to trigger - my trade idea essentially failed. I manually stopped out and direction immediately changed. That was pretty frustrating. Rather than revenge trading it I resized and got short with 25% of my original position size expecting VWAP to break to the downside. When it broke I doubled my position size and the trade started working out really nice. I got my first take profit off in front of the low of day, my second exactly where I had it scheduled half way to my final target, then got shaken out. I expected $266.30 to hold resistance and price broke right through that level with fairly consistent volume. I closed the position and once again it immediately changed direction. This time I just left it along. The second trade was a really nice win and there was no need to put more risk into the day when I stopped out twice, needlessly. What I should have done is reset my stop to my average price or just leave my original stop or move my stop to the break of VWAP. Had I done one of those things, I would have filled the gap and my trade for a REALLY nice win. Volatility means levels won't hold like they normally do. I didn't account for that and should have. Lesson learned though. Overall, I'm not mad about a winning trade but I could have traded it better.
Small win from shorting Royal Caribbean again. I got short expecting $34.08 to hold resistance after it was tested. I took my first piece off in front of the low of day, which was $32.80. Within this move I was expecting the low of day to break fairly quickly but it stuck $32.81 and started turning around. I already had a decent win on the day and wasn't looking to take a loss to close the day so I exited my position and called it a day. Inevitably, I would have been able to get my second piece off but what can I do, hindsight is 20/20 and this trade wasn't doing what I thought it would do at the time I was in it. Still happy with it.