MMM Trade on Apr 25, 2019 12:43 from Cklamb: Tradervue User Stock Trades.

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Cklamb

 

I Blew this up today, I did fight out of this a bit at the end of the day. But, there was one trade where I tried to play the momentum to upside one to many times and the resulting down draft took me out in about 5 seconds at a huge loss. I did a couple of on tilt trades and extended the losses. I managed to walk away regain my composure and make up about two thirds of the overall loss.
I think a good portion of this came from me playing for that reversal and being willing to test each level as I did. Then when I was not in it at the point I had been shooting for and only capturing part of the move. I started chasing with four bad trades with no real plan behind them. One of them hit for small gain. It was all down hill from there for the next five minutes or so.
There are too many trades on here to details on each one. But, there were a few good setups to play for reversal. There was one that hit enough for me to be willing to go at it a couple more times and then I made a couple of plays that I am developing some edge in and was waiting for most of the time I played this stock. I lost patience waiting for the right setup.
FROM EARLIER
Once, this broke any visible support after 195. I tried to take share at very even level. with pretty tight stops. I took a couple reasonable losses and a win. I had been playing for the move that happened at 11:55 am. But, I had missed the move and got out to early. I hit it again and was showing a 12$.
My mistake was up the lot size to make it one last quick trade. I am not even sure but I put in a limit buy and the next was .30 and it took me for another .25 cents right after that.

I did more trades to try and make which of course made things.

I do not know what to expect from a stock that has that type of spread.
this loss here is absolutely devastating. I am not sure how to deal with some thing that does not even let me get a reasonable stop in. I needed to trade smaller.

I believe that what I was doing was making sense to me.


Execution detail:

Date/time Symbol Side Price Position
2019-04-25 12:43:30 MMM buy $193.040 long
2019-04-25 12:45:21 MMM sell $192.890 0
2019-04-25 12:51:23 MMM buy $192.165 long
2019-04-25 12:54:13 MMM sell $191.800 long
2019-04-25 12:54:13 MMM sell $191.800 0
2019-04-25 12:59:50 MMM buy $192.066 long
2019-04-25 13:01:02 MMM sell $192.527 0
2019-04-25 13:19:23 MMM buy $191.067 long
2019-04-25 13:27:01 MMM sell $190.900 0
2019-04-25 13:44:33 MMM buy $190.104 long
2019-04-25 13:49:51 MMM sell $189.930 0
2019-04-25 13:57:41 MMM buy $190.575 long
2019-04-25 13:57:41 MMM buy $190.575 long
2019-04-25 13:57:41 MMM buy $190.575 long
2019-04-25 13:57:41 MMM buy $190.575 long
2019-04-25 13:58:11 MMM sell $190.686 0
2019-04-25 14:04:31 MMM buy $191.250 long
2019-04-25 14:04:34 MMM buy $191.250 long
2019-04-25 14:05:10 MMM sell $191.420 0
2019-04-25 14:09:05 MMM buy $192.250 long
2019-04-25 14:09:05 MMM buy $192.250 long
2019-04-25 14:10:24 MMM sell $191.460 long
2019-04-25 14:10:25 MMM sell $191.460 long
2019-04-25 14:10:25 MMM sell $191.460 long
2019-04-25 14:10:25 MMM sell $191.460 0
2019-04-25 14:14:16 MMM buy $191.320 long
2019-04-25 14:14:51 MMM sell $191.090 0
2019-04-25 14:23:37 MMM buy $191.090 long
2019-04-25 14:34:00 MMM sell $191.020 long
2019-04-25 14:34:00 MMM sell $191.020 long
2019-04-25 14:34:00 MMM sell $191.020 long
2019-04-25 14:34:00 MMM sell $191.020 long
2019-04-25 14:34:04 MMM sell $191.020 0
2019-04-25 15:30:08 MMM buy $190.550 long
2019-04-25 15:30:08 MMM buy $190.560 long
2019-04-25 15:30:08 MMM buy $190.560 long
2019-04-25 15:30:09 MMM buy $190.560 long
2019-04-25 15:30:09 MMM buy $190.560 long
2019-04-25 15:30:09 MMM buy $190.560 long
2019-04-25 15:30:09 MMM buy $190.560 long
2019-04-25 15:30:09 MMM buy $190.560 long
2019-04-25 15:30:09 MMM buy $190.560 long
2019-04-25 15:30:09 MMM buy $190.560 long
2019-04-25 15:30:09 MMM buy $190.560 long
2019-04-25 15:30:41 MMM sell $190.710 long
2019-04-25 15:30:41 MMM sell $190.710 long
2019-04-25 15:30:41 MMM sell $190.710 long
2019-04-25 15:30:41 MMM sell $190.710 long
2019-04-25 15:30:41 MMM sell $190.725 long
2019-04-25 15:30:41 MMM sell $190.725 long
2019-04-25 15:30:41 MMM sell $190.700 long
2019-04-25 15:30:41 MMM sell $190.700 0
2019-04-25 15:45:15 MMM buy $190.410 long
2019-04-25 15:45:24 MMM buy $190.410 long
2019-04-25 15:45:24 MMM buy $190.410 long
2019-04-25 15:45:25 MMM buy $190.410 long
2019-04-25 15:45:25 MMM buy $190.410 long
2019-04-25 15:45:25 MMM buy $190.410 long
2019-04-25 15:45:25 MMM buy $190.410 long
2019-04-25 15:51:19 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:20 MMM sell $190.560 long
2019-04-25 15:51:21 MMM sell $190.560 long
2019-04-25 15:51:21 MMM sell $190.560 long
2019-04-25 15:51:21 MMM sell $190.560 long
2019-04-25 15:51:21 MMM sell $190.560 long
2019-04-25 15:51:21 MMM sell $190.560 long
2019-04-25 15:51:21 MMM sell $190.560 long
2019-04-25 15:51:21 MMM sell $190.560 long
2019-04-25 15:51:22 MMM sell $190.560 0

Comments

Gravatar AmotoXracer
2019-04-25 15:16:13
 

It hurts just looking the execution detail.

Gravatar Cklamb
2019-04-25 15:17:34
 

TILT!!!

Gravatar AmotoXracer
2019-04-25 15:27:32
 

Yeah it happens to all of us. I watched MMM pretty much all day but it never really reversed. So I didn't touch it.

Gravatar falfred
2019-04-26 09:30:18
 

I was also in this trade but I was trading an option spread. I was risking $125 to make $1125. It was a limit order I placed a week prior. I got into this trade because price took out a stack of sellers and I expected the trend to continue to the upside. MMM reported below expectation in earnings and the stock gap down at the open. I tried exiting this trade unsuccessfully prior to the close of the market. I'm still in it. I placed a limit order to exit this trade at a $50 loss. I don't expect my limit order to get fill due to sell off expected to continue at the open of today's market. I'm not a scalper. I'm commenting on this just to understand what's going on in a traders head when he/she gets into a position. Now Cklamb, I see you got filled on your long position at 12:43. The market open with a gap down and was selling off in the morning session and continued in the afternoon session. My question is why not trade with the trend?

Gravatar Cklamb
2019-04-26 20:36:52
 

Falfred, thank you so much for you thoughts,

My game plan in the AM was to short this. I am not sure what got me in the mode of trying to catch this falling knife.
This is the reason we make plans that we need to stick to. I have to admit this is great example of trading well for a while and getting overconfident and dong things i should not have.

Gravatar AmotoXracer
2019-04-26 20:55:06
 

Everyone is tempted to play for a V bottom reversal. MMM just didn't have it. INTC today(4-26-2019) didn't either. Ill be watching Monday if TSLA can ricochet off an intra day bottom.

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