First of all, RESPECT the 5-min HIGHER LOW RULE
When it goes up, I gotta sell, not buy the stock! Really fast pops up aren't maintainable and are there for only a few seconds => bad place to enter long.
The stock broke the 1-min trend line and continued the move down.
Takeaway:Monitor the changes in trend to see if the stock is still continuing in our trend or whether we should sell it immediately after breaking down right through the trend line.
To Improve:
1) Don't buy at open after a gap-up. Expect the profit takers to take the stock down.
2) If the stock is definitely not going in my favor, exit quickly, and then, if a better opportunity comes up, take it and enter the trade rationally if strategy criteria respected.
3) Don't buy at resistance levels (gap resistance) => was expected to pullback. Buy on the pullback instead, if all criteria are respected.
4) Be mindful and considerate of ALL resistance and support levels, but especially resistance when entering or looking for a partial exit in a long trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-11-10 09:33:07 | WISA | buy | $3.050 | long |
2020-11-10 09:35:00 | WISA | buy | $2.890 | long |
2020-11-10 09:37:54 | WISA | sell | $2.930 | long |
2020-11-10 09:39:13 | WISA | buy | $2.795 | long |
2020-11-10 09:42:59 | WISA | sell | $2.834 | long |
2020-11-10 09:48:25 | WISA | sell | $2.950 | long |
2020-11-10 09:51:48 | WISA | sell | $2.915 | 0 |
2020-11-10 09:58:46 | WISA | buy | $3.320 | long |
2020-11-10 09:59:40 | WISA | buy | $3.060 | long |
2020-11-10 10:00:41 | WISA | buy | $3.020 | long |
2020-11-10 10:11:03 | WISA | sell | $3.000 | long |
2020-11-10 10:12:22 | WISA | sell | $3.020 | long |
2020-11-10 10:14:54 | WISA | sell | $3.120 | long |
2020-11-10 10:29:06 | WISA | sell | $3.300 | long |
2020-11-10 10:29:17 | WISA | sell | $3.240 | 0 |
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