Trade Review - SYMI plan to be more active and share my trades and insights regularly.
Information
I swing trade with focus on stock with short term momentum. My trades are identified through a two-step screening process. I use a passive screener outside of market hours to manually select stocks based on structure and position, to allow preparation and prevent too many options. At market open, I run an active screener to track for movement within the watchlist, as timing and momentum in selected stocks can be unpredictable. This allows me to be time efficient, I require no more than 20-30 minutes per open session.
Identified through my passive screener outside of market hours, this stock showed an initial momentum move to the upside on the daily timeframe, followed by consolidation near the mean price - a setup conducive to continuation. I occasionally check a higher timeframe (weekly) for context; in this case, it made a overextension to the downside which could follow with a pullback toward the mean (or not). The aim here isn’t to predict but to take a bet / capitalize on potential imbalances when they appear. Thus it was added to the watchlist.
At market open, this stock appeared on my active scanner, and when it reached 24.60, I entered as a clear range expansion was forming. I typically scale out at 1R and hold the remaining position for a measured move (projected from the prior momentum move). While the approach is straightforward, I occasionally adjust based on real-time conditions, as seen in this example. Execution details are shown below.
Trade Overview
• Structure: Bullish Continuation (Daily) and Bearish Pullback (Weekly)
• Position: Near mean price (Daily) and extended from mean price (Weekly).
• Entry Trigger: Range Expansion
Entry Details
• Entry Price: 24.60
• Stop Price: 22.07
• Target Price: 34.32
• Expected Risk/Reward: 3.84 R
Exit Strategy
• Exit Price: Closed 50% at 29.84 and 25% at 29.45.
Performance Summary
• Result: Price have moved 20.53% with a profit of 2R, trailing 25% with a near SL.
I wrote a bit more than usual for this review since it's my first review post, but the real approach itself is quite simple. Future posts will be more concise.
