Entry/play: Strong open then pb to good support, trying to bounce. Wrestling with 45 area resitance which is also vwap. Waited for a better pivot. After 1min hammer, entered next bar. Stop below hammer bar.
Management: Should have just stopped both below the pivot bar, but prior stronger pivot was close. I split it, even though close and I ate 2 comissions. Fortunately, this was a smaller postion than AAPL so I am still up on the day.
Psychology: I'm pissed at a loser, but I think I played it right. Even much afterwards, I see it traded 2 more legs down. Obviously it would have been very damaging for me to have held it. The relief of being out is less than the frustration of a loser.
LESSON. I think this is insightful, that I'm more pissed about a loser (in general), than relieved to have been spared a wipeout.
Why do I not dread the wipeout? Why do I not feel relieved to have been spared a wipeout?
Maybe I should examine that intraday setup more. can't see the vwap here, but it was ~45.
**Maybe if the opening pullback breaks the vwap, I shouldn't be so quick to buy a bounce.
