Daily Report Card
-morning prep: B
-market prep: A
-stock prep: A
-level of focus: A
Rationale:
-ADSK beat Q3 expectations and the company lifted annual guidance
-Q4 guidance lower than analyst estimates; so overall the earnings picture is mixed/positive
-stock trading at 52 week highs (sign of strength)
Trade Strategy:
-enter above 180 high volume area (this was the most impt level to me), also was looking to enter above 180.18 (P-Close) & 180.62 (Y-high)
How much risk should/did I take?
-337; 2.7% of NLV
Recap / Trade Management:
-entered when price above 180 (high volume channel) but entered too early; didn't wait for confirmation by seeing 2 1m candles close above (or after reflection, 2-3 small body 5m candles after 10a)
-quickly exited once I saw that price was not holding the 180 level anymore and kept risk tight
What did I do well?
-quickly stopped out when I saw trade wasn't working
How could I have traded this better?
-been patient and make sure I SEE the entry signal; would've passed on the first trade, maybe I would've caught price staying within a spread of 180 or when price broke above PClose and consolidated below Y-High
What did the tape look like during the most important moments intraday?
-11:40-11:45 can see price staying w/in 2 spreads of 180
-12:05-12:07 saw buyers join the bid as price began to squeeze higher
Where could I have been responsibly bigger?
-as price consolidated sideways under Y-High; saw a clear up move w/ volume, followed by 15min consolidation (3 5m candles with small body / small wicks)
Gain/loss relative to expected gain/loss:
-loss in line with expectations; net loss of -31.01
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-11-29 10:15:21 | DEC06 19 182.5 CALL | buy | $1.670 | long |
2019-11-29 10:15:34 | DEC06 19 182.5 CALL | buy | $1.700 | long |
2019-11-29 10:18:06 | DEC06 19 182.5 CALL | sell | $1.600 | long |
2019-11-29 10:20:34 | DEC06 19 182.5 CALL | sell | $1.490 | 0 |
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