ROKU Trade on Oct 10, 2019 09:54 from beno: Tradervue User Stock Trades.

Big Picture
- SPY back in August 282-294
- China in US this week to discuss trade deal, reports that China want partial deal
- 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)
- Fed announced further expansion of balance sheet “soon” in an October 8th meeting

Markets Intraday
- PM: SPY consolidation between 291.70 and 290.40
- Morning: Strong uptrend, stalling at 294 resistance.
- Afternoon:

- End of Day:

Technical Analysis – Long Term
- Earlier uptrend this year because of growth story
- Sold from $170 to $99 last month due to competition entering the space

Technical Analysis – Intraday
- Broke above the 110-consolidation area
- Day1: bought all day on news compared to weak market
- Today: Strong OD and massive failure back into yesterday’s range

Catalysts / News
- Macquarie upgraded PT to $130 / outperform, says user base could triple by 2021
- Held up well during recent market sell off
- Broke above 110 consolidation area, bought all day

Original Plan
A morning dip into 116 is buyable (long) with target as 119 (August gap up level). Hold above 119 is bullish, long.

Execution Notes
After seeing the huge OD and watching ROKU consolidate at near highs and pushing price higher, I decided to enter a long position at 120.31 on some weakness as 15 minutes went by and we were still above 119 (second plan). Got filled for 1-lot and my 2R mental stop was at 119.91. The stock kept breaking down but I didn’t hit out when my mental stop was reached. The stock broke down further and my mentality switch to revenge trading mode. After the stock broke down $3 I hit out during a pull in to the 118 level, my entire daily risk was used on this trade.

Review
The only reason why this trade ruined my day and my week was because I didn’t follow my plan and hit out when I was supposed to. This should never happen again! I wrote a blog post about my mistake:

Grade Questions

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

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