Monday, December 16, 2019

I'm back! MU +5%

Daily setup: gap up (extended)
Entry/play: On purpose I arrived at my desk a few minutes in, so as not to get involved in Monday opening chop. Nice entry: after thrashing around, it tested whole number then bought the move above.
Management: I hoped for a 20% p/l target. I could have gotten 12%, but I tried to hold on. At first with a wider stop, but after an uncomfortable retest of vwap I squeezed my stop. Update: after another 15 minutes of chop, I could have gotten my target.
Psychology: No regrets about not waiting out the chop, that could have gone either way. On the other hand, I'm not in the mood lately to take singles (10%), but that's really what I should do for parnassa. AND maybe what I REALLY should do is press the one minute trend with a squeezed stop and not give any leeway on the front half.

These things go together. I can't take smaller parnassa then give wider stops. If I tighten my game, I need to tighten both sides.




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