April 11 - +$800 Need better risk management


Watchlist
$KONE
$LEDS
$MU








Going live soon and I need a strategy that I am familiar with to consistently making money

Strategy :
1) trade on up gap down after popping up
2) Short weak stock
3) Trade ABCD
4) Reversal for short squeeze


$KONE


Took on the short position when I see price crossing below VWAP. hestitated a little bit because I couldn't find a good SL. I should practice my rule that if I cant find good SL, dont trade.
Average Cost
Around $8.3
SL
$8.9
TP
7.4
RRR 
2.5= 0.6:1.5

Note: Lucky to make money but not a good trade because I didn't find get to define a good SL when entering.



Note for improvement



$LEDS



Hotkey mistake at the beginning which luckily turned out to be ok. Up 100 on that but the 2nd trade made me lose nearly 400.quickly turn from long to short at 9:43am.  Took 1000 shares. I have violate my own SL rules again. The entry is bad.
On STO, the 1 min is a bad entry location. A better location will be at 9:51 price at $7.35 instead

Average Cost
Around $7.05 maybe
SL
$7.63
TP
6
RRR 
2.75= 0.58:1.6

Note:

Note for improvement
Need to setup an excel or sheet to calculate RRR

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