AMD Trade on Aug 9, 2019 09:40 from MarcoG: Tradervue User Stock Trades.

Consolidation Squeeze on Second Day Play!! 52 Weeks High Spike above pm high on Fresh News!!

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

Trade Scenario

After the release of yesterday's news a continuation move for the 52 weeks high could be expected.

Trade Variables

Symbol : AMD
Gap : None
RVOL : 1.93
pmVOL : 500k
avg Vol: 61M
Float: 1B
Short Float: 11%
pmPATTERN : Consolidation below 34.20
Catalyst : Continuation day

Technical Levels

Support: 33 / 31.50
Resistance: 34.2
Inflection: 34

Trade Plan

Set-up : Up-Trend Continuation
Side : Long
Size : 200
Entry : 34.20
Takes :
Exit :34

Comments:

I am quite disappointed regarding the execution of my plan. I don't have to trade the 10 ORB but I have forgotten! I didn't respect the rules and I have felt into an impulsive practice going long prior retest of yesterday's high. I have even wrote it down, but I have acted differently. I have to be focused all the time and don't lose the main scenario. I would like to start printing down my plan in order to don't lose the point!! I have spotted my favorite pattern but I have missed the main situation. I thought I had passed this phase and be able to stay on the spot controlling the main scenario but I have failed. I am happy that this happened cause now on Monday's session I will be extra focused! Bad things happens for me to improve in order to don't let them happen again!
Last note is on the fact that cause it was a continuation day a retest and consolidation on important levels was REQUIRED!! This is not where I am able to edge so I have to concentrate my strength and thoughts on all the variables as I do when I edge.
Collecting a red where I don't edge it's something I have to REMOVE!! I HAVE TO TRADE ONLY WHERE I AM ABLE TO EDGE UNLESS I TRADE REALLY CONTAINED SIZES!

08/12/19
FOMO is kicking in! I have been now trading since September 2018 on a simulator and since December 2018 with real money. I have kept size on an average of 5$ per trade! I have put aside greed and tried to tame fear. I have forgotten that I should make money trading. I have focused my energy and studies on being profitable. Now I am facing the will of making money! It's the first time since I have started seriously in December! I am gonna lose hard soon I know it! I am too aware about that! I write down every day to trade only few setups but still I find an excuse with myself to enter the trade! Main excuse is the very limited risk kept around 20$ per B quality setups trade. I grade them B quality due to the fact that I am edging on different patterns at different time of the day with different variables. I didn't focus that much as I did for my best trades! Just few months more and I will report perhaps a good pnl (I mean money enough to pay me a living) on where I could edge!
I DO NOT HAVE TO TRADE ANY OTHER SETUP THEN 5MIN ORB above/below pm levels AND UP/DOWN Trend Continuation also above/below pm levels, unless a consistent volume supported drop kicks in when a stock gaps up!!!