WFC Trade on Sep 27, 2019 09:55 from Cklamb: Tradervue User Stock Trades.

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Cklamb

 

WFC
Intraday Fundmentals
• Appointed an experienced CEO.. street likes it
Technicals
Daily

Hourly

Intraday

Trading Strategy
• Short Bias Gap Fade
Reading the Tape
I watched the tape leading into the opening and 50.40 seemed to be resisting. This did add me shorting out of the open on my bias as 50.40 resisted as we moved it the open. I felt like I was seeing what I wanted to see on the tape after that and I was trying to calculate risk and adjust sizing to the opening print. So, I was admittedly distracted trying to set up for the next shorts. There was one trade that I could have avoided by just seeing the velocity of the bids. I should have been a little more alert there.
At the apex, I did see some changing in the momentum of the bids and offers. There was nothing drastic that I could see. But, it did at least appear that it was going to take a breather
On the final tow trades, I saw .99 hold tons of time on larger offers.
Trade Management

Trade Review

My bias on fundamentals left me on the wrong side of this. I understand now that this was apparently a big name after a long struggle to find a replacement. I am not sure this kind of gap up with some retracement is normal for appointing a new CEO. The run up out of the open might be and it will be study as I see these in the future.
• First Trade
o On plan, with good risk
o There could have been some price improvement on entry
o Stopped on Plan
• Second trade
o On plan to try and catch a gap fade, good risk
o Some more patience on this one setting up or a better read on the tape may have keep me out of this
• Third trade
o This was most likely a little bit of a revenge trade
o I thought I was going to reject below the HoD
o I needed to wait for the test before taking this trade and then waited for the 50.50 level
• Fourth Trade
o I had this as R2 and I saw a solid rejection here and I took the short
o Feeler size as momentum had just gotten weaker
o I felt the run to the level and the rejection put this trade in my favor
o I put out smaller risk being countertrend at this point
• Fifth Trade
o I was sized right for this trade I needed to put the stop where I had planned pre trade
o This was the home run I had working for all opening and I played it way to tight because of the extra size.
o Managed properly, I would have had a small core to take on the next trades off 51
• Sixth Trade
o Tape was holding
o Took this off the level and a good read on the tape
o There was nothing large but it kept holding at .99
o Played this to tight again with my size( either size up or give room)
• Seventh Trade
o Finally nailed it
o I was way to small I had three cents on this trade I needed tier three here
o Made up most of the rest of the day with one trade or set up to hold to the close this would have made the day if I would have gotten some good adds and partials on the rest of day.
Trade Grade

Preparation 8 10 I felt like I was. My bias was off. I can’t say that is cost me too much. I knew how I wanted to express my bias out of the gate and follow that plan as close as the market let me.
Hard Work 8 10 I worked this in all the ways. I kept track of the other financials and the SPY and watched the tape.
Patience 8 10 The third trade here was a rushed trade and without much of a plan. The last two trades were good examples of decent patience

Plan 7 10 All but one had a plan that worked with the morning thesis
Discipline 5 10 I still need to work on sizing to the risk, I can take more risks this way
Contribution NA 10

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Execution detail:

Date/time Symbol Side Price Position
2019-09-27 09:55:08 WFC sell $51.275 short
2019-09-27 09:55:53 WFC buy $51.300 0


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