Shared by
shefmcoy
Ticker BA
ATR 10.9
Shares Foat 570m
Short Float .86%
RVOL 1.08
Big Picture
Spy has been at the highs, flirting with the 286 level throughout after-market and pre-market trading hours. Spy has been showing strength since Sundays after hours gap up through 282..suggesting confirmation of bullish significance. Qs are a bit over extended but poised for breakout of the 183 area. IWM is testing the downward trend line breakout at 154. Overall cautiously bullish to short term short as there is little in the way of significant catalyst to move market higher.
Intraday Fundamentals
BA has had both good and bad news recently. A Canadian airline recently released news about more 737s being grounded. Also the FAA said something about the problem with the planes possible being fixed soon.
Long Term Technicals
Stock has finally been showing some signs of a follow through on a bounce after major panic sell-off from the highs after the plane crash a few weeks back. After move up from the lows of 360, stock broke through resistance range at 380 and closed above 390 yesterday. 390 appeared as a possible inflection zone with room to 400 overhead and 380 below.
Intraday Technicals
Stock held above 388 support during pre-market and after hours trading but could not break 390. At the bell the stock found support at the opening price and started and extremely over-extended move to the upside. after a pullback and a move back, a beautiful and protracted consolidation pattern began to form just above 392.25. I went long on the breakout towards 393
Reading the Tape
As I watched the breakout form i watched the LVL2 where i saw a very large offer at 393. once this offer lifted, the stock broke out and i bought as i saw the bid holding about 392.80
Trade Management
I added 1/4 size as we broke through 393 but we immediately pulled back and i took some off sadly. But i added back on confirmation to hold 393. I sold out very nicely at the tops as i read the order flow through the time and sales to judge the demand of stock. I added to early on the pullback and got stopped out.
Trade Review
Did i good job of recognizing a pattern and taking advantage of the situation. I was to early to add though and this cost me profits. I need to stay more calm and be patient when adding to my position.
Really noticing a pattern with how i size in and out of a trade. I normally add to early and take profits to late..I need to remain calm and take some deep breaths after i enter each one of my trades.. Taking the time to review stop loss, profit target, and important levels in my head. Or better yet, I should be doing all of this a couple of times before hand as to make sure that i am not jumping the gun.
Report Card
B-
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-04-02 10:26:12 | BA | buy | $392.860 | long |
| 2019-04-02 10:29:37 | BA | buy | $393.380 | long |
| 2019-04-02 10:30:48 | BA | sell | $393.520 | long |
| 2019-04-02 10:32:44 | BA | buy | $393.470 | long |
| 2019-04-02 10:35:31 | BA | sell | $394.040 | long |
| 2019-04-02 10:37:07 | BA | sell | $394.260 | long |
| 2019-04-02 10:38:12 | BA | buy | $393.980 | long |
| 2019-04-02 10:40:36 | BA | sell | $393.800 | 0 |
Comments
AriTradingSim
Also, the reason for the depth in the trade review is because over time in doing this you will see patterns in your trading so that you know what to work on in your Daily Report Card.
shefmcoy
Thanks a lot man, I appreciate you clarifying that for me about the report card. To be honest I think i knew this was the Idea of the report card, I had actually just started making one a few days ago and my criteria are as follows...No trading in first 5 min, maximum of 3 losing trades in a day, $60 max loss on a trade, and exhibit patience/fight for price. But I just started the report card and I am still adjusting it. I actually like the requirements of yours being "did the market show you its direction?". But like you said its all personal and tailored to individual trader. But honestly I didn't do a good job on the report card section because i was a bit overwhelmed with this whole in-depth review process. It is hard to recall all of these important details. Thanks again for your help.
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Nicely done, this looks fantastic! Thank you for the kind words on my UNIT trade. I'll definitely shoot you an e-mail, I am pretty new too (started 03/2018)and looking to meet traders as well. One thing I'd like to share is on the Report Card section I'm not really grading the individual trade. That is part of something called the "Daily Report Card" where you choose one specific thing that you want to consciously work on for an entire month and grade yourself each day on your performance in that specific thing. The reason it seemed that I was grading the trade was because I was working on risk management (confirmed entries, obeying sizing rules, and risk/reward), these were areas that I identified that I had issues in. There are losing trades that I got an A+ too and winning trades that I received an F on. Now that I'm getting better at those things I am going to move on to something else. The goal of the daily report card is to put specific emphasis on areas where you identify weakness or bad habits in your trading and eliminate them over time so that you improve. It may even be not related to a trade or P&L, and be as simple as "Did I prepare for my day?" "Did I sleep well" "Did I do my trade review" etc. But the key is to be very specific about what you are working on. As an example you can't just say "I want to not over trade" because that doesn't mean anything. You have to identify WHY you are over-trading, i.e. I over-trade when I get stopped out and jump back in quickly because I want to be back in. To correct it I will widen my stops and adjust my size so this stops happening and I give myself more room for the trade to work. Then that becomes a part of your report card. (That's just an example). Anyway, hope it helps. Will send you an e-mail!