BROS Trade on Oct 20, 2021 09:32 from DieselGenSet: Tradervue User Stock Trades.

I liked that this was a recent IPO that has been strong. It broke highs previous day on the daily chart. I was hoping for some follow through of this level.

In hind sight i dont like how extended it is at this point, but at the same time these IPOs can really move compared to more established stocks.

I was expecting a push out of the gate so i bought the first candle after it started to push and confirm some initial direction. My size was good(normal) but my area for a stop(bottom of 1st candle) was tight expecting this to work right away. Second candle started to follow through but this immediatly reversed.

i was watching other stocks and didnt want to give up on this trade so i "gave it some room" to just below yesterdays close to see if it would gap fill then bounce back.

Now my mentality is messed up and im 1.5R on my risk. I get stopped out on this and it eats up my profits from other trades. Bad trade here. I dont trade IPOs well, but feel like i just be getting some of the action in them as an intraday trader.

What could i do better: I think i was ok with the idea and size and entry for what im doing right now. If i was experienced in tape reading maybe i would have seen a better entry. Where i went wrong was not just stopping out and waiting to see what it was going to do and look for a new entry. This is a function of not having enough trading capital since im on a small cash account. I dont want to waste bullets or stop out flat quickly and renter quickly.