QCOM Trade on May 2, 2019 10:35 from Bionic_Trader: Tradervue User Stock Trades.

5/2/19
Trading Journal
$QCOM

Today I was looking for a push above the previous high of $89 for a short above the $90 level if it showed weakness holding above it. Noticed a slow grind above $89 level with no increasing volume so took a starter. QCOM popped a little higher to only get stuffed back below $90 on increasing bear volume. The right thing to do in this trade is add risk once you see the stuff below $90 holding risking the high then should of looked for that failed pop at the $89.70 to get big keeping my risk at the HOD. Daily trend was very strong so didn't have a ton of conviction on an all day fade. Covered into VWAP thinking we would hold and look for a retest but breaking the VWAP with strong momentum should of confirmed my conviction to put on even more size. It's time to trust the process when opportunities arise especially when there is a defined risk with great reward opportunity.

Strengths On the Trade:
1) Trade Thesis + Setup in your Playbook + Confirmation on the Tape + Fight for Price
a) Stayed patient to look for a short opportunity with my original thesis.
b) Looked for a break above $90 with slow action following a stuff below.
c) Saw struggle to hold on the tape with bids being pulled.
d) Shorted the $90 level with small risk

2) Did You Follow Your Plan?
a) Had a thesis looking for a pop over $90 entry once i saw slowing on the tape and
executed it well.

3) Mindfulness
a) Once I saw the stuff below $90 on decent volume I stayed calm following my
initial idea to look for a cover into VWAP.

4) Exit
a) Covered at the previous breakout area on good volume right at VWAP. Would of been
better to hold until it really gave me reason.

Weakness On The Trade
1)Not getting bigger when i saw the confirmation.
2)Wait for a better reason to exit not just a key level.

Tasks to eliminate weakness:\
1)Trust your process you haven't done all of this studying/backtesting for nothing.
2)Get bigger especially when there's a small RR