BABA Trade on Nov 22, 2019 09:33 from kerobo0000: Tradervue User Stock Trades.

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kerobo0000

 

Daily Report Card: D
-morning prep: D
-market prep: C
-stock prep: B
-level of focus: A

Rationale:
-yesterday BABA showed relative strength vs. a weak market and also found support at the earnings PM high (182.75)
-this morning BABA was gapping above 185 daily level
-note there was positive sentiment / optimism re: trade agreement this am which puts this name in focus for me
-fresh news this morning as Macquarie initiated coverage on BABA with an outperform rating
-this was a prior 2nd day play (earnings) with confluence of price breaking out of multi month range

Trade Strategy:
-enter on pullback to 185

How much risk should/did I take?
-173; 1.4% of NLV
-only entered 1 tier, but reduced tier size to 1 until i’m able to prove consistency (1 month)

Recap / Trade Management:
-made 4 trades on BABA; 2 leaning against the 185 level, 1 leaning against the PClose and 1 leaning against the PMH (managed poorly)
-I could've avoided the first trade and exited much faster (when I saw the 185.20 bid drop), was catching the falling knife, but didn't fight for price or have confluence with SPY
-2nd trade was entering on consolidation above PClose, quickly got out as soon as price printed below level
-3rd trade was entering on consolidation above 185 (missed getting in on the retest of 185); managed this trade well - good entries and good exits. didn't have high expectations given we were w/in the premarket range so tried to take what the trade would give me
-4th trade I entered on sideways consolidation but added 3 tiers into strength and got chopped up when price pulled back toward PMH; kept 1 tier on and was able to exit for a small profit

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What did I do well?
-keep risk tight on 3 of the 4 trades
-keep tier size to 1 lot
-identify consolidation in real-time

How could I have traded this better?
-avoided the first trade
-been more patient on the last trade, was too aggressive on my adds
-better identify where my risk is; should have been risking below the PMH at 186.15 instead of a break of the consolidation range; and the retest is where to get more aggressive, not as price moves away from the level

What did the tape look like during the most important moments intraday?
-no noticeable size on the tape at areas that made sense to enter

Where could I have been responsibly bigger?
-on the sideways consolidation above 185 AND during the retest of 186.15 PMH

Gain/loss relative to expected gain/loss:
-net loss after commissions
-could've been a nice winner if management of 2nd trade was better


Execution detail:

Date/time Symbol Side Price Position
2019-11-22 09:33:34 NOV29 19 187.5 CALL buy $1.730 long
2019-11-22 09:37:04 NOV29 19 187.5 CALL sell $1.580 0
2019-11-22 11:54:18 NOV29 19 187.5 CALL buy $1.430 long
2019-11-22 11:58:21 NOV29 19 187.5 CALL sell $1.370 0
2019-11-22 12:11:38 NOV29 19 187.5 CALL buy $1.510 long
2019-11-22 12:13:16 NOV29 19 187.5 CALL buy $1.530 long
2019-11-22 12:31:14 NOV29 19 187.5 CALL sell $1.680 long
2019-11-22 12:44:16 NOV29 19 187.5 CALL sell $1.820 0
2019-11-22 14:54:42 NOV29 19 187.5 CALL buy $1.910 long
2019-11-22 14:54:52 NOV29 19 187.5 CALL buy $1.910 long
2019-11-22 14:55:38 NOV29 19 187.5 CALL buy $1.930 long
2019-11-22 14:56:12 NOV29 19 187.5 CALL buy $1.950 long
2019-11-22 14:58:59 NOV29 19 187.5 CALL sell $1.860 long
2019-11-22 14:58:59 NOV29 19 187.5 CALL sell $1.860 long
2019-11-22 14:59:03 NOV29 19 187.5 CALL sell $1.860 long
2019-11-22 15:00:19 NOV29 19 187.5 CALL buy $1.960 long
2019-11-22 15:03:32 NOV29 19 187.5 CALL sell $1.920 long
2019-11-22 15:39:54 NOV29 19 187.5 CALL sell $1.970 0


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