BIDU Trade on May 17, 2019 09:38 from MarcoG: Tradervue User Stock Trades.

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MarcoG

 

Consolidation Squeeze Play above pm high on ER beats!!

Requirements:

RVOL: Possibly >1.5
pmVOL: Possibly >50 K
avg Vol: > 1M
Vol @ Day : > 1 M
Gap: If possible but not strictly needed
Long Term Chart : Possible Pocket, trend already defined and strength.
Float: > 20 M
Short Float: Possibly >40%
Institutional Ownership : Possibly > 100%
History of Gap Follower: Neutral
History of former runner: Possibly YES
Major ETF movement and strength: Possibly Trending with strength


Set-up : Consolidation Squeeze Play
Symbol Name: BIDU
Side : Short
Size : 15
Entry : 130.33
Takes : 128.33
Exit : 131.33
P/R :

Comments: I have entered BIDU for a Consolidation Squeeze Play. Price rejected beautifully the 130.75 Pivot sitting on 130.50. At the break of such level I have opened my position.
Unfortunately I didn't get to target 1 so I have decided to stop break even.
This month has been the weirdest month of my trading career. 1 Win , 2 Loss and 3 Scratch.
I am simply respecting my rules on takers and not change the plan once in the trade. Surely I have missed some profits but I think that in the long term this behavior could only benefit my capital and results. Again surely my patience is being tested and I am happy that I didn't fall into FOMO or chasing!!. Perhaps the only consideration is regarding my stops. Giving a technical stop of 1$ I then need a move of 2$ to start locking up profits. When in months like this there is not so much move I then don't profit. But as well having a larger stop gives price the opportunity to retest levels and go forward. Smaller stops imply having a different attitude than I have. Then I have to reenter in the trade again and again and this practice could lead me into FOMO and chasing collecting at the end of the day some small losses that would then ruin my balance also psychologically.
Hope next week some good action will come!
Have a great weekend everybody!!


Execution detail:

Date/time Symbol Side Price Position
2019-05-17 09:38:13 BIDU sell $130.330 short
2019-05-17 09:58:45 BIDU buy $130.330 0


Comments

2019-05-20 04:29:03
 

Nice trade on BIDU MarcoG, well done for applying your rules and avoiding the FOMO.

2019-05-20 07:33:04
 

Thx Karid really king of you!

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