PREMARKET
- Premarket gap down.
- 1,295 M float (mega), $1.95 ATR (maybe $1), 880K volume, ETB.
- Catalyst: Yes. Q1 earnings good, not as good as other banks though.
Plan A (short)
- If come closer to VWAP and stays below VWAP, go short on confirmation.
- Entry: $87.20s Stop Loss: $88 Target: $85.80s. 2:1.
Plan B (long)
- If moves above VWAP and maintain above VWAP + confirmation of break of HOD.
_ Entry: Near VWAP Stop Loss: Significant level below VWAP. Target: $88. I was iffy about the long because I didn't know where the support was.
OPEN
- I jumped the fucking gun and didnt even finish waiting for the 5-10 min ORB to die down. I would have see the move was to the upside. That was the first stop loss broken of the day. I got in at $87.15 on small share size, anticipating the break of VWAP, got stopped out at high of morning, moved above it too.
- Next, saw it approaching the $89 daily level, I shorted then sold for profit, the thing is that I feel like I got luck on that one because I did it while it was moving upwards, I ALMOST got stopped out again.
- It moved up again, and I shorted again near the $89 level AGAIN on no subsequent candle confirmation (Luck).
- It broke past the $89 level up to highs of $90. At this point I saw the trend was following above the 9-20 EMA and reaching towards its max ATR. I felt confident to short it towards the EMA. I did good of scaling out for profit.
REFLECTION
- I jumped the gun several times without confirmation.
- You need to be watching for confirmation and ALL trends that the stock is following, it night not just be following the strategy you want from it.
- Holding onto losers for longer than your winners. Leading to bigger losses than wins.
The good: Nice share size and stop loss/break even movement.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2023-04-19 09:39:34 | MS | sell | $87.150 | short |
2023-04-19 09:43:32 | MS | buy | $88.040 | 0 |
2023-04-19 09:50:16 | MS | sell | $88.930 | short |
2023-04-19 09:52:25 | MS | sell | $88.810 | short |
2023-04-19 09:52:57 | MS | sell | $88.690 | short |
2023-04-19 10:00:37 | MS | buy | $88.480 | short |
2023-04-19 10:03:16 | MS | buy | $88.670 | 0 |
2023-04-19 10:05:54 | MS | sell | $88.770 | short |
2023-04-19 10:06:28 | MS | sell | $88.540 | short |
2023-04-19 10:15:58 | MS | buy | $89.420 | 0 |
2023-04-19 10:56:05 | MS | sell | $89.940 | short |
2023-04-19 11:00:18 | MS | sell | $89.930 | short |
2023-04-19 11:00:53 | MS | sell | $89.840 | short |
2023-04-19 11:07:29 | MS | buy | $89.540 | short |
2023-04-19 11:25:18 | MS | buy | $89.480 | short |
2023-04-19 11:27:17 | MS | buy | $89.370 | 0 |
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