$VTAE Trade Recap - The Importance of Waiting for a Good Entry

$VTAE is up $10+ in the past few days, moved from $6 to a high of $17 today. However that shouldn't influence how one should approach to trade it. "It's up too much" isn't a strategy. The only strategy, is to wait for a good entry.

Unless you have been shorting on pops and covering into washes, you'd be underwater most of the trading day, and likely to have been spooked out by one of the pops (rather than being ready to short).
Additionally, you can clearly see that waiting for the "backside" and shorting on pops would have made a much more straightforward trade.

I made one good trade out the gate on it, and then started to build a position in the high 15s anticipating a 15.50 break and flush; since the entry was far from perfect, having not shorted on a pop, rather on a sideways movement, I was easily shaken out of my position when it broke 16.50, right before it melted $3 in the course of half an hour.