MU Trade on Apr 12, 2023 09:40 from Dandres: Tradervue User Stock Trades.

Premarket
- I did not see this on the thinkorswim scanner but I found it from bearbull youtube premarket channel live.
- There was light fundamental catalyst on it, sammsung was going to reduce chip production and so naturally MU could pick-up the production.
- The premarket analysis showed the stock above VWAP and on the daily chart it actually showed that it was right around the resistance marker of $64.3. The ATR was 2.27 so I thought that it might have some ability to move to the downside during the day since it was at that BIG resistance level. The stock showed ETB.
- My max share size was 158 with 2% risk. I decided it would be best to only get in on the trade small if it broke below the VWAP after the 10-15 min OR. It had decent R:W ratio 2:1.
Open
- Right at open the stock dropped, and from prior lessons I knew it would be best to just wait for the OR to resolve. I saw confirmation of the 3rd 5 min candle breaking new low and I shorted 50 shares around $63.4.
- I wanted to practice adding to my winners BUT i think i might have averaged myself lower by adding around $62.9 which was already 50c lower than my initial entry, maybe I should have kept in mind that the ATR was only 5.27, then that way I wouldve added closer. My stop loss for a good while was right above the VWAP.
- I covered half at half way to my profit target range at around $62.86 and kept moving my stop loss tighter to right above INTRADAY resistance of many candles.
- I noticed that the stock was approaching its ATR and was moving with small volume and so I just decided to get out completely.
Reflection
- Really proud of myself for being disciplined and not jumping in without confirmation after the OR.
- I feel like I did really great at managing my risk at all times with setting stops and with also adjusting stops after covering for profit.
- Proud of myself for sticking to the plan, I feel like I am indeed leaning closer to being a 5 min chart trader.
- Did really well with scaling in and out.
- Accidentally shorted some more so I need to practice my hotkey executions.
- Looking at the stock right now and its getting closer and closer to the profit target of $61.73, maybe I need to work on having more patience lol.
- The scaling it at 50c after sort of reduced my R:W so I need to practice knowing when to get in more.