Pre market VWAP bounce trade. I noticed the trade went against me and got out right away. Must wait for price above VWAP, also decent volume, and good specific news. I was hoping and of course this is never a strategy. Got out quick.
Shorted MYMD after a breakdown of price after the open. Entry was at 3.22 with a stop at 3.40 resistance and a goal of 2.50 prior day close. Price fell below my goal and I exited on a cross of the 9 EMA at 2.35.
9:34:29 AM Dip Scalp 4/9/2024 MYMD 600 3.1050 600 3.1335 $ 0.03 $ 17.10 0.92% Terrible discipline on cutting losses. barely any bounce. added to a loser to dig myself out of a hole.
Wanted to but opening panic but didn't execute where I wanted so was going to cancel order when it dipped again and executed, and dropped quite a bit more. By the time I was ready to execute sell order it had bounced back close to buy price so gave it some time. Didn't look like it was going to really bounce so just got out.
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