MU Trade on Sep 30, 2019 09:59 from beno: Tradervue User Stock Trades.

Big Picture
- SPY consolidating below ATH (302) and above 282-294 range
- 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: SPY Downtrend
- Morning: SPY Uptrend, moved $1 from 296 to 297
- Afternoon: SPY Consolidation in 297’s then downtrend back to 296.80
- End of Day: SPY end of day buying pushing price back to 297.50

Technical Analysis – Long Term
- LT uptrend on the weekly
- Consolidation during last year

Technical Analysis – Intraday
- Gapped down $3 on weak guidance outlook
- Day1: sold off all day, closed weak

Catalysts / News
- Numbers solid but guides lower on margins. analysts mixed bag
- Day1: sold all day

Original Plan
Short at one of prior days levels: either a test of 43.50 or a break and hold below 43.

Execution Notes
I initially got short 2 lots at 42.84 when I saw a build up (bear flag) below the 43 level, I had a 10-cent stop for 1R of risk at 42.94, I stopped myself out when I saw the offers step up to 42.94. I tried the trade two more times for 1R of risk at 42.96 and 43.04 (stopped out at 43.07 and 43.14 respectively). The leg up ended going from 42.60 all the way to 43.45. After the next down-leg to the 42.90’s I saw another build-up and decided to try the short the breakdown but it quickly reversed; got filled short 2 lots at 42.88 and stopped myself out at 42.94.

Review
This trade frustrated me a lot. Roof of my house was leaking over the weekend and its been on my mind ever since. I don’t think I’m in the right state of mind to trade today. I’m not following my plan and forgetting all the lessons that the market is trying to teach me (like trading breakouts, I’m not good at it, my data suggests I should wait for pullbacks)

Grade Questions

Did I follow my plan? (yes/no/with mods): with mods
Which modifications?: Chased the trade at random levels
What justified the modifications?: no
Did you hold a core position until you noticed a reason to sell?: yes
Were your executions goods? no

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