LEN Trade on Oct 4, 2019 10:32 from beno: Tradervue User Stock Trades.

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beno

 

Big Picture
- SPY back in August 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 easing and possibly continuing with new QE program (called Open market operations)
- Formal inquiry launched for Trump impeachment (Cover-up, secret server, abuse of power)
- US released tentative plan to limit investment in China (most likely for more sway in trade talks)

Markets Intraday
- PM: Consolidation until NFP numbers then power up almost 2$
- Morning: Continued uptrend with a pullback to 291.5 at 11am
- Afternoon: Continued uptrend to 294
- End of Day: Continued uptrend to 294

Technical Analysis – Long Term
- Very LT consolidation between 40-60
- Uptrend from 38 since 2018

Technical Analysis – Intraday
- Initial gap up on news then aggressive selling
- Day2: Consolidated above first day’s high
- Today: OD and failure at yesterday’s high, retest of 58.6 then break of high

Catalysts / News
- Q3 EPS beat by 20%, Revs beat by 6%

Original Plan
Long at a retest of yesterdays level.

Execution Notes
Got long when price failed from the highs a second time, got filled at 58.93 with tight stop at 58.83. When price broke down further my stop didn’t trigger (I think stop-limit orders are broken in TWS when using simulation, they just don’t trigger…) so I hit out with a 2R mental stop at 58.73. At 1pm I tried the trade again after I saw a build up in SPY and LEN trade back to the prior days high, I got long at 59.28 with 2 lots and with a 2R stop at 59.08. I got stopped out 1 hour later at 59.08 (mental stop)

Review
Positives: I tried the trade at yesterdays level, twice.
Negatives: I failed to try the trade again when it traded lower, I failed to imagine the support as a zone! I need to keep working on this today and next week!

Grade Questions

Did I follow my plan? (yes/no/with mods): with mods
Which modifications?: changed to mental stop risking an extra 1R
What justified the modifications?: TWS simulation failed to execute my stop-limit order
Did you hold a core position until you noticed a reason to sell?: yes
Were your executions goods? no

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


Execution detail:

Date/time Symbol Side Price Position
2019-10-04 10:32:01 LEN buy $58.930 long
2019-10-04 10:37:03 LEN sell $58.730 0
2019-10-04 13:06:34 LEN buy $59.280 long
2019-10-04 14:12:48 LEN sell $59.080 0


Comments

2019-10-04 20:48:28
 

Great review :D

Second day continuation could be tough to trade!
Nice job man!!

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