BABA Trade on Nov 27, 2019 09:32 from kerobo0000: Tradervue User Stock Trades.

Daily Report Card
-morning prep: C
-market prep: D
-stock prep: B
-level of focus: B (stomach ache)

Rationale:
-BABA received strong demand for its Hong Kong listing; closed books early on 11/18
-on 11/26 BABA surged in Hong Kong debut
-this had me interested in the second day play on today 11/27
-fresh news on this day as HSBC initiated coverage with a Buy rating

Trade Strategy:
-BABA was gapping up to all-time highs so main entry strategy was to enter on a break & hold of PMH or a retest of PMH

How much risk should/did I take?
-210; 1.7% of NLV was the most risk I took at anytime

Recap / Trade Management:
-gave myself three shots at this one before I threw in the towel
-upon review the first and the third entry were valid; the 2nd entry was not as price was putting in small candles below VWAP & PMH
-on the first entry, I saw price get rejected by PMH at 9:32 then put in a relatively small candle just below PMH (i've seen situations where it consolidates just under PMH or just over PMH after opening strong before continuing higher); entered 1 tier and added two more tiers after price continued to hold above PMH, I was playing for a strong opening drive given the catalyst + fresh news
-stopped out of first trade with -5 loss after there was lack of follow through; the first trade was a momentum trade, so I need to anticipate scaling out as soon as price confirms bias and tape begins to slow; exited way too late as price got below PMH and VWAP - means I wasn't clear on my stop and also didn't internalize that price would not pull back that much if it was going to go higher
-on 2nd trade, I saw bids stacking in the 197.60s and 197.70s and price couldn't get below 197.60; however we were still below PMH and VWAP and I think that makes this a lower probability trade
-on third trade, I saw price consolidating in a tight pattern between VWAP & PMH and it was 10a (potential time for stocks to begin trending), quickly exited for a small profit as price made up move then just drifted sideways
-on the 3rd trade, given the size on the offer at 198.50, it would've been ideal to lighten up as soon as price broke higher, and then remove the rest when price failed to hold 198.50 on the retest

What did I do well?
-keep risk tight while putting myself in position to catch the move

How could I have traded this better?
-stayed engaged after the last trade (I was no where near my intraday stop); around 11a price drifted down to PMH and that is when it made it's move

What did the tape look like during the most important moments intraday?
-on the first entry, I saw bids stacking at 197.74 & 197.78, before price pulled back to 197.68 before quickly getting back above 197.70; scaled in to 3rd tier when I saw price retest 198 and struggle to hold below it (2k buyer joined the bid at 197.90 and order was never hit)
-at 9:35 price was approaching 199 and there were about 12k shares on the offer, I was attempting to exit as price approached 199 but didn't do a good job (and left about $30 on the table as I could've exited at 1.10); in the future can calculate where the option price will be if it is w/in a spread of 199 or I can hit the bid as soon as I see the last price come within a spread of the target level (ie, 199)

Where could I have been responsibly bigger?
-anywhere near PMH with a risk below prior consolidation zone at 197.65 (at 10-10:02a)
-before the 11am trend, at 11:02-11:04 there was a clear fight between buyers and sellers from 197.90-198

Gain/loss relative to expected gain/loss:
- net loss of -4.88; in line with expectations as I kept risk tight but still gave myself several opportunities to try and catch the move