PSTV Trade on Nov 15, 2019 09:35 from BTradez: Tradervue User Stock Trades.

Goals
Preplan every trade-in Evernote and have the plan pulled up while trading. Refer to the plan throughout the trade and trade the plan. Respect max daily loss. If the max daily loss was respected and the original trading plan followed... The trading session is a WIN. (Valid until 12/31/2019 reassess after to see progress)

Maximize DL Winners through Recycling & Holding size for targets

Report
So I just rewatched me PSTV recording and highlight two things. One, I'm happy I took the trade. Two, I should recognize whats a good trade and deserves full size vs. what does not. My DL process is good, my executions are good, my entries and exits on this were per plan and I would not change them. This scratch trade idea though will only work if I'm not greedy with it lol. My average was 3.03, I wanted to scratch at 3.04. The lowest the stock printed was 3.06. I'm pissed off seeing that because I could have gotten out with a 3 cent loss as my process is designed that way. Take the .05 cent loss but GET OUT. That would have been a major win today.

Secondly, I'm happy I traded this today but I'm starting to realize how I like to trade this setup. The only thing I need present is the right chart, I don't care about the other stuff. If the right chart is there I will go FULL size. Today my chart was not there. I was feeling cocky and I was on a hot streak. I said that's a death line because I said so and I can't get harmed. Now I'm not saying I wouldn't have traded this again because I would BUT any setup where the DL is NOT the last support. YOU MUST USE HALF SIZE. Adding this within my process and we're gonna get back at it.

Lastly, PSTV today was a great example of why we want to get our winners to the size of assumed risk. PSTV was worst-case scenario today, but hindsight 20/20 the loss was controlled and expected. If we can each winner to the same size of the assumed risk then we can scale this.

Solid trade, way to take the loss, and we learned something new today.

Areas to Improve
If the deathline is not the LAST support then cut size in half. NEW RULE

Win Or Lose (Process Not PnL)
Lose

Pre Market Ever Note Plan

Chart

Live Trade Recording

Video Trade Review