UPS Trade on Apr 1, 2019 11:52 from Cklamb: Tradervue User Stock Trades.

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Cklamb

 

From the morning notes:
“It appears that this will break through a recent daily pivot and into a longer term pivot about .75 higher than that. The current premarket is 133.30 with R2 being at 133.70. A clean break above 133.70 consider going long on a breakout of the recent channel for a longer swing trade.
The hourly chart is showing a strong recent trend heading into this gap. There looks like some profit takers should get involved this morning after a five day run. Consider a mean reversion play after the price discovery period.”
I am working on holding out on the open. The mean reversion play was there off the support at about 113. But, at the time I was struggling with add to my NVDA position (which I never did). So, I missed the double tap of this support level. This is a play that I am building an edge in and missed it. I will need to work on putting in alerts for certain levels to watch.
The trade that I took did not fit either of the plays that I outlined this morning. It did mirror the mean reversion play but it is looking like a momentum play. I did anticipate on the entry taking a position right at a break of the VWAP. I should have waited for the MA finish its move to VWAP. Again, this is a entry I am starting to develop an edge with.
I had set for 19 cents of risk. I have lowered my per trade risk a bit, but this still demanded a bit more size with the risk profile. Even at that, I would like to say that I felt the real risk I was taking was about 8 cents. Which makes this fact a little bit worse that I didn’t get bigger base on 11 or 12 cents. I simply was not big enough for the trade and the target I committed to.
I also had the clean break above the resistance. My morning notes say to try to hold this for a swing. So, if I had referred to my morning notes on this I may have kept a half the position and been set for a longer term trade.
Positives:
Morning thesis fairly solid.
Clean execution on both ends of the trade.
1 for 2 risk profile
Opportunities:
Risk profile was better
Swing trade was available
Morning support reversal trade available
I had no real reason to sell.


Execution detail:

Date/time Symbol Side Price Position
2019-04-01 11:52:31 UPS buy $113.460 long
2019-04-01 13:15:59 UPS sell $113.837 0


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