AMTD Trade on Sep 27, 2019 11:10 from beno: Tradervue User Stock Trades.

Big Picture
- SPY consolidating below ATH (302), having hard time breaking level
- Saudi Aramco attacks causing volatility in oil prices, production back by end of September
- China trade talks productive, China purchased agriculture products from US
- Fed approved next rate cut of 0.25% (new rate is 1.75-2.00)
- Formal inquiry launched for Trump impeachment (Cover-up, secret server, abuse of power)
- US released tentative plan to limit investment in China
Markets Intraday
- PM: Consolidation between 297.5 and 298.30
- Morning: Power down from 298 to 296.50, bounced at
- Afternoon: Downtrend, news about limiting investment in China (big red candle)
- End of Day: Bounce from 294 (previous range)

Technical Analysis – Long Term
- LT uptrend but currently trading below and respecting the 200-day SMA

Technical Analysis – Intraday
- Day1: Sold off $3 on IBRK Lite news
- Opened strong today and is currently retracing to pre-news levels

Catalysts / News
- Interactive Brokers launches IBRK Lite that features free trades
- IBRK wants more market share, competition for other brokers

Original Plan
MY initial plan was to short at an important level but the stock was strong all morning.

Execution Notes
I tried to play a scenario that wasn’t in my plan. After seeing the strong uptrend in AMTD (which was the inverse of SPY at the time) I decided to jump in on a HL. Got filled at 46.53 when I noticed a small break from tight consolidation below 46.50. I sold half my position when the price got back to the prior HH of 46.75 as this last pullback showed more weakness than the consolidations in the morning. I sold my other half as I saw SPY tank $2 in 10-15 seconds on news that Trump is limiting investments in China (probability of delisting Chinese companies and limiting pension funds exposure to China), got filled at 46.44.

Review
If it wasn’t for the White House releasing some news about limiting investment in China, it would have been a profitable trade but instead it turned out to be a scratch trade.

I like how I took profits at the prior HH. Monetizing the price path has been working well for me to cover risk in my trades.

I also liked how I hit the bids when I noticed the SPY weakness (from China investment news) immediately show up in AMTD. I had no idea how bad the news was going to affect the stock so I saw massive weakness and sold right away, I would have gotten stopped out later so it was better that I cover my ass sooner at a better price.

Grade Questions

Did I follow my plan? (yes/no/with mods): with mods
Which modifications?: long as stock was showing strength
What justified the modifications?: strong buying in the morning
Did you hold a core position until you noticed a reason to sell?: yes
Were your executions goods? yes

Grade: A
(1=D, 2=C, 3=B, 4=A)