MCHP Trade on Feb 6, 2019 09:45 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


Price action RULES!!...

After few minutes the price signed new highs giving us a beautiful bullish price action. I have then entered and got a nice almost 2 dollars move for a +10.74$
For capital preservation I have then closed the position independently by what the stock was going to do. In case I would have got a loss back from this trade I would have felt sooo bad!!
I am happy for my action in taking choices but I have to start avoiding the first 5/10 minutes in those days where SPY gave a big impulse and now consolidating!!
I am now seeing better when I should add to my positions. Today I have done it really good. Waited for the second pull back and added 3 shares to the position setting stop loss just few cents above my average price. It worked perfectly.
In case I would have waited at the opening today I would have made an Home Run Trade!!!!
First thing I need to improve my entry at the opening!!
Second thing will be starting closing the position in maximum 5 orders. 15 executions seems to me way too much. Today 2 executions from the first trade + 5 the second + 5 the third.
Total of 12 out of the 15 I have done today. If I would have respected that my profit would have been higher and payed less in commissions! The mistake is taking out a quarter at the third take. At the third I have to take out a half to then have just last piece to close out!! So basically: Out one quarter of position, again out one quarter of position, Out Half and Out Trailed Stop Loss. From 10 it will give me: 2 / 2 / 3 / 3.
I won't have this problem when I will use the proper size ;)

BTW I was forgetting that this trade celebrates trade number 100 since I am using 5/10/20 shares per position accordingly with the stock ATR!!! I have trade up to the 27/11/2019 as a human shit but I changed completely approach then in late November!! Started the journey on the 28/11/2018, it took me more then 2 months to collect 100 trades :D
I HAVE BEHAVED!!
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Execution detail:

Date/time Symbol Side Price Position
2019-02-06 09:45:06 MCHP buy $89.140 long
2019-02-06 09:49:02 MCHP sell $89.730 long
2019-02-06 09:49:08 MCHP sell $89.820 long
2019-02-06 09:49:18 MCHP sell $90.140 long
2019-02-06 09:49:42 MCHP sell $90.210 long
2019-02-06 09:49:49 MCHP sell $90.270 long
2019-02-06 09:54:40 MCHP buy $90.140 long
2019-02-06 09:55:03 MCHP sell $90.390 long
2019-02-06 09:55:39 MCHP sell $90.350 long
2019-02-06 09:56:11 MCHP sell $90.330 long
2019-02-06 09:57:09 MCHP sell $90.290 long
2019-02-06 09:58:25 MCHP sell $90.590 long
2019-02-06 10:01:52 MCHP sell $90.990 0


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