PDD Trade on May 23, 2019 10:02 from MarcoG: Tradervue User Stock Trades.

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 : Up-Trend Continuation
Symbol Name: PDD
Side : Long
Size : 200
Entry : 20.565
Takes : 20.71 / 20.81 / 20.96 / 21.06 / 21.15
Exit : 20.47
P/R : 2

Comments: I have traded PDD for a Consolidation Squeeze Play. I have to underline that I wanted to enter already at 20.18 but I never trade below pm highs or above pm lows so I had to wait. I think I will slowly start to try to get in even if price didn't break pm levels. I know that this will cost me choppiness and fast exit executions but I think it all worth the try. Entering at pm high or low implies always to enter at a high price that could sometimes reverse hard against you causing unwanted losses. While entering once higher lows and higher highs are respected at first green candle to make a new high will respect price action and perhaps I will have the opportunity to place more shares.
Price formed a beautiful Bull flag on the 1min chart, I have traded the first green candle to make a new high as soon as I have noticed increasing volumes and orders on the Level 2. Got to first take I took out too few shares cause I am still not used to trade 200 shares position lol :P Thus I have then after 1 minute took the other piece out to respect my takes. Once achieved 2nd take I have mistakenly took out one more piece at pullback, I should have let it go, I did it cause I wanted to add back shares afterwards, but I didn't add anything later so this was a mistake!! Second mistake was that I didn't take a piece at target 3 cause I have said myself to take out the rest at 21.25 area of confluence from yesterday. This was a mistake cause I changed the plan during the trade! Sometimes it's hard to don't make any consideration that you didn't do before during a trade.. Though I have to respect my set of rules and don't care about all what I could realize during an opened trade. In the end I would have not make much more that what I have got but still I have to respect the RULES!!!
Once the price confirmed the downtrend I have granted me a piece at target 2 and close break even 1/20th of the original share size!

07/14/2019
I really don't understand how could I have after this trade changed my mindset for a week at least! Stick to the fucking plan man!!!!
BTW this trade needed some adds, I had just to keep building the position and would have resulted in a wonderful trade!!