BZUN Trade on Mar 6, 2019 09:41 from ValeriuMoraru: Tradervue User Stock Trades.

Gravatar

Shared by
ValeriuMoraru

 

Initial Comment:

I got greedy and i got a RIP instead of a quick scalp. I didn't took my profit and i let mt looser go much longer the i should had done.

Proper Prep:

I analyzes the chart, watched the various support and resistance levels, then go ahead and analyzed other stock then i come back to this one and update the analysis because it was in an up trending even if the numbers were bad and the guidance for Q1 was also bad, but the overall sales and earning were better then last year in the same period so i took note and watched closely on the open to see if it could go even higher and test the 43.75 and break it from the longer time frame, it did but only for a couple of seconds.

Hard Work:

I watched trade before and after the market had opened. It dropped immediately after it tested the 44 area. I didn't took a trade because i restricted my self to not trade the first 10 to 15 min. I watch and trade it in my head, for now.
After that i was expecting a retest of 37 so i started looking for a place to short it. I took the worst place... I so it was struggling to keep the keep 38.70c so i said to my self to get short near 70c or if i miss at 50c if it dropped. I miss both of them.... Rip, and started to chase. When i entered my trade i so it had just dropped the 20c so that was my trade i couldn't miss it again.... I got in at 19c and immediately dropped to 90c area and because i'm greedy and didn't respect my plan i didn't took my profits and got rekt because i had a bad position.

Patience:

I wasn't patient to let it develop and get a much better position like 50c area or even better 60c area. I just got in because of FOMO and self conviction that it was a good position to take and that i'm doing the right thing.

Detailed Plan:

My plan was super simple. Get short if 20c drop, and as near as possible to 20c, if 20 breaks get out, if 20 fail exit at the hole number or better. So the risk/reward for this trade was bad... Not because i shorted the stock even if it already got down significantly, but because of the bad entry i had and how easily i could had got eliminated. My real risk was at least 10c and it was difficult to get a cover into 20c area if it broke.

Discipline:

I covered, i respected my plan, unfortunately not perfectly because i lost way to much... But the thing that i really messed up was forcing this trade and entering with FOMO.

Contribution:

NON

Reviewing:

I basically got punished because i forced the trade, got greedy and didn't got a better entry. I have to find a solution to limit this type of bad trades and emotions. I don't know wet what, but i would think about it tonight.


Execution detail:

Date/time Symbol Side Price Position
2019-03-06 09:41:11 BZUN sell $38.190 short
2019-03-06 09:43:12 BZUN buy $38.330 0


Leave a comment about this trade!

You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes just a few seconds to sign up, and it's free!

View plans, Sign up for free, or Log in