Shares traded: 200
Closed Gross P&L: $73.29
KO had a small earning beat but boasted 6% organic sales growth.
ADV 11.72 RVOL 1.03 ATR.55 BETA .48 Short .66% Inst Own 69%
Long at 52.50 if you can get it stop at 52.19
Reading the tape
The strength in the tape was pretty solid most of the day. However, on the first trade this was simply taken on a break of 52.80 and the following inability to reach that level again. I did see the strength but only in color and velocity on the time and sales.
Looking back, I did see selling at 53.15 as the stock came back into my second trade. I still took the trade at 54 without a good RvR
• Trading plan said to look for a long at 52.50. the pierce of 52.80, the green tape and the wick of my entry candle helped me trigger. I could have made a better entry in hindsight but the trade started working pretty quickly.
• The tape did tell me that 53.15 may have some sellers before I took that trade. The RvR was not there. When it rejected the second time, I believe that I should have moved to BE.
• There was nothing to suggest that this would turn at 52.70. However, the move above the MA is set up that offers a good RvR and I think there is some edge on the short term MA crossover.
• All and all I did manage a two good trades here with defined risk, workable targets, one good stop out for a profit and the other for a lovely small loss.
• I should stayed focused on this a little more today. I think that there was at least more Move2Move trade or scalp other than what I showed here. I have to take those set ups when I see them
As part of my SMB capital training, I need to grade these against the ONE GOOD TRADE Criteria
Aspect Score Poss. Notes
Preparation 8 10 There was a plan to get bigger at 52.50 and an adjustment made for that long
Hard Work 8 10 The second trade was waited for and watched
Patience 8 10 I waited for a while for the pullback to 54
Plan 7 10 Yes, both times but no real target on the second trade other than a MA follow
Discipline 5 10 I could have set a limit to get into the first trade
Contribution NA 10
Replay 0 10
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