CCCL Trade on Nov 26, 2019 09:39 from Chigozie: Tradervue User Stock Trades.

Why did I want to take the trade?

Approaching $1.50 resistance with momentum, looking for a breakout to $2.00.

What did I see?

Kept squeezing and there was speed on the tape. It tried testing $1.50 but failed at first, but I saw the retest and wanted to play it.

What was the downside potential?

False breakout into a panic sell and I lose 10 cents.

What was the upside potential?

Break of $1.50 into another halt into $2.

How did I manage the trade?

Bought at $1.45 as momentum picked up. It hit $1.50 but that didn't get bought up all the way, so I immediately put my entire order on the ASK to bail out, as a $1.50 breakout should have resolved MUCH quicker. Got out at $1.49.

What was I feeling at the time?

Comfortable because of the momentum and it looked like it wanted to break. This comfort may be indicative of me needed to take larger size at breakouts under $2.00.

What did I do wrong?

Nothing.

What did I do right?

Stuck to my risk, took appropriate sharesize, and most importantly, bailed out with profit on the ASK after I noticed the breakout not resolving immediately.

How can I improve in the future?

Keep reading tape to identify situations where breakouts resolve vs. when they do not, and at which rate. Also, increase my share size on breakouts, planning on bailing out with profit if there's no resolution. Getting in 5-10 cents before the breakout point can help with this and lower my risk.