APDN Trade on Nov 13, 2019 09:30 from Chigozie: Tradervue User Stock Trades.

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Chigozie

 

Why did I want to take the trade?

Had secondary offering premarket, so there would most likely be a bounce off the lows due to short covering.

What did I see?

APDN started to reclaim the 9 EMA and break above $5.00, so got in for the break of that.

What was the downside potential?

A selloff to $4.50 especially if $5 got rejected.

What was the upside potential?

A move to $6 at least.

How did I manage the trade?

Sold half at $4.98 to lock in profits in case that level got rejected. Locked in more around the half dollar. Let the rest ride until I saw $5.50 fail to hold.

What was I feeling at the time?

Nothing. Was a very low-risk trade and something to just hold on to as I was trading NSYS. Got in with only 100 shares because there was no clear pattern other than short covering.

What did I do wrong?

Not added at the break of $5.00. I should have and risked my entry price.

What did I do right?

Immediately identified the setup and bought some shares. Scaled out along the way. I was aware of this premarket and was ready at the open.

How can I improve in the future?

Be much more aggressive since there technically shouldn't be much more selling left since all the shorts are most likely covering.


Execution detail:

Date/time Symbol Side Price Position
2019-11-13 09:30:40 APDN buy $4.870 long
2019-11-13 09:31:02 APDN sell $4.980 long
2019-11-13 09:31:03 APDN sell $5.000 long
2019-11-13 09:32:15 APDN sell $5.400 long
2019-11-13 09:38:49 APDN sell $5.290 0


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