I put everything I learned the past week from my -4k week into play today, and hit what felt like my best trade ever. I've just not been paying attention to trend enough, and now that I am, so many things feel easier and I'm not too early or too late on my entries and exits.
This is what I was watching today on $VSTM. The aqua 2-day trend line was perfect, so I was looking to short the reversal of it, seeing if we can make a move back down towards $7.30. I had a really tight risk of $7.60 with the idea of bailing early if it started to get back above $7.55 convincingly.
I waited for confirmation of the trend crack, shorted with small size since I'm in baby steps mode, and just was patient. A few times it looked like it was going to come back, but I had my set risk in place, had the half dollar as resistance that was holding well, and then when it started to dump, I took profits and locked in a solid trade because I need so many good trades now to make up for my bad month, trying to squeeze the most profit wise out of something like this isn't worth it.
As it turns out, I had a pretty good cover since I avoided 30m of an uptrending channel where it started to look like it was coming back, but I would have been fine if I was patient. As of writing, I could possibly have gotten a few more cents, but it's not quite breaking down like I wanted, so I'm perfectly happy with my trade.
Even though I have a long way to go to get back my losses and turn consistently profitable, this trade feels amazing because it was so obvious, so easy, and all I had to do was be patient, stick to my plan and see if it worked out. Even if it didn't work out and it came back, I still would feel great, because there was no guessing or worrying about when I was shorting - I was shorting something very specific that was clearly seen, and just had to see what the market gave me.
I got a single trade in for the day, no need to push thing so soon, so I'm done for this morning session and will check things out in the afternoon. Also, if I were still holding my short from before, I'd only be up $1800 (about 5%), which is crazy how small that is given how big the position was. Oh well, first step of many for me in trying to turn thing around, and a nice Monday morning trade!
Also, as I watch other tickers and pay attention to trend, I see how much I have just been oblivious to. So many things look so easy now that I look at trend, I can use it for risk/reward a lot better and know if something is worth taking a trade on or not. If it doesn't have a clear trend showing, then I just shouldn't be touching it, but if it does, I need to start looking for those setups along with my past knowledge and experience to hit winning trades.
That's it for now, trade safe!

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