AMC Trade on Mar 2, 2021 14:53 from tjmiller2001: Tradervue User Stock Trades.

The 9.00 level was a big deal for AMC today. It acted as support twice and resistance four times before my entry.

I was looking to get short at this 9 level since AMC was under VWAP for a potential fade trade. I missed earlier entries because I wasn't willing to pay a little extra for the contracts. The move then happened without me.

As AMC made it's move back up to 9, I wrote my "if-then" statement: "If AMC consolidates under 9 resistance, I'll enter short at 8.95"

That's what happened and I committed to my entry this time. Fought for price well, good patience waiting for it to come to me. I thought this was a strong trade with a 3:1 RR, VWAP above and a key level above, near my stop. I'd be getting out as soon as my thesis was proven wrong. That level rejected and it moved downward.

I sold when AMC was showing relative strength to SPY. I'm aware that WallStBets pumps at the EOD recently have affected this name so I didn't want to get stuck short during that. Contracts didn't move well at all, only made $1. But the stock only moved 0.15 so this wouldn't have been anything special with shares. Targeting in play names with high ATR's instead of just tickers I'm comfortable with is the smarter move.

Lesson Learned: What you trade is just as important as how you trade. Trade stocks in play. Don't just trade AMC because you like that AMC moves slowly. I was correct with my thesis here but the move wasn't enough to get me paid because this name wasn't in play.