RIOT Trade on Apr 3, 2019 09:30 from ouyangj4: Tradervue User Stock Trades.

Date: 04/03/19
Ticker: Riot

Vol:
Float: 15.13m
Market Cap: 31.49m
Pre-market Vol: 100k
Avg Vol: 1.8m
RVOL:
ATR:
Short Int:
Inst Own: 16.7%

BIG PICTURE
Riot is a Chinese blockchain company, has been on a downtrend for over a year. Earnings came out, compared to last year where their cash was 41m, they are now down to 225k. With that being said, total assets decreased and total liabilities more than tripled. However, their revenue increased from their startup year of 270k to 7.7m, causing a big gap up past a strong resistance and above the 200-ema for the first time in forever. However, operating costs also increased disproportionately, my thesis is that people saw earnings, saw revenue beat, bought without looking at the shit companies liabilities and operating costs & how its running out of cash. Will be short-biased.

INTRADAY FUNDAMENTALS
Yesterday it washed out hard, closed pretty bearish. No news to support the 8% gap in pre-market today, my thesis is that fake headlines indicating "Riot gapped up 22% over earnings" created FOMO in lots of investors, evidently from the lower pre-market volume

LONG TERM TECHNICALS
200-ema: $4.5
Major runner, still a piece of shit stock that is doing poorly, has been on a 2 month uptrend due to the boom in tech sector, otherwise it has no appealing reason to buy.

INTRADAY TECHNICALS
Open: $4.69
Pre-market high: $4.87
Resistances: $4.87, $4.95, $5, $5.15 $6.5, $7
Supports: $4.5, $4.25, $4

Game Plan:
Very short-biased, might look to enter on open with half size and $0.1 stop loss for an anticipated washout. If it goes other way, will exit and look for entry at $5 with risk at yesterdays high of $5.15. Depending on what the tape shows, will consider entering at pre-market high. According to yesterday, if it squeezes, it's likely to fade all the way towards lunch.

MANAGING THE TRADE
Trade 1: Washed out from $4.84 rally, war at $4.65 open, entered 500 when bids started dying off, entered 2k averaging $4.7, got stopped out at $4.75 and took a loss. Went down to $4.51 without me.
Trade 2: Wanted to enter at $4.65 for a short but is struggling to get past $4.58, entered 1k at $4.6 with risk at $4.73, looking to let it ride down to $4.3.
- Added 1k at $4.65 with the same stop.
Trade 3:
Trade 4:

TRADE REVIEW
Overall made good calls, out of all 5 trades, the only losing ones were ones without a plan. Stick to plan, don't make impulse decisions is the key lesson.

REPORT CARD
Confirmed Entries - Did you let the market show you what direction it wants to go first?

Correct Sizing - Did you calculate the correct size based on your entry / Stop loss?

Did you add half size until the market showed you where it wanted to go?

Good Risk/Reward - What was your risk reward? Was it at least 3/1?

Overall grade for this trade: