Friday, September 27, 2019

WFC +48%

Daily setup: Gap above huge base and trendline
Entry/play: 1 min new high (preempt, using level 2)
Management: Initial stop below day low. Looked for a 50% target bc small position (greed?) and same day expiration. First surge missed my target by 1cent. First pullback scared me, and market started selling into gap. Raised stop to under pullback and then to under ma/vwap tangle. Took target then squeezed stop. Left a LOT on the table, but market was selling hard, and I didn't want to give room to this on expiration day.
Psychology: Medium. I was affected by wanting $$gains, but had taken smaller position sized bc I'm so wounded from CCL. So when it went to .44 (my T1 .45) I didn't take it and I didn't yank it. Same mistake that cost me hard in CCL. But I did tighten my stop at that point.
     It was good psychologically to take a small position size. I could have made much more $$ on this, just by sizing bigger, but I needed to stay safe-ish, even if I pushed harder to 50%


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