ASLN Trade on Dec 2, 2019 09:30 from Chigozie: Tradervue User Stock Trades.

Why did I want to take the trade?

3rd day of run. Sold off on the open below 180 SMA and was setting up for a breakout.

What did I see?

180 SMA was at $7.00, which was also the 1m ORB spot, and whole dollar resistance everyone would be watching.

What was the downside potential?

False breakout, especially since it was first attempt on weak open.

What was the upside potential?

SMA short squeeze to premarket high or $8.

How did I manage the trade?

The first attempt was very well. I watched Level II for $7.00 getting eaten up. I jumped in at $7.00 and it was a false breakout, I gave it time to work but bailed out as it couldn't hold.
The second attempt, I bought the breakout and held to the top of the breakout candle. I couldnt lock in half at the pop, so instead of waiting for a retest of the breakout spot, I bailed out the entire position, fearing it was another false breakout. All I had to do was look at the chart and see the SMA hold, but did not.

What was I feeling at the time?

Annoyed it didn't work and I was down on the day on such a great setup. I was hoping for a retest so was looking forward to that. When the retest came, I got in and held, but got faked out again when it failed to break 7.21. Of course it wouldn't, it was breaking out from far away. I was looking at Level II with tunnel vision again. The only reason I feel better for selling early was that I missed the nasty halt resume that followed right after. I most likely would have added into that halt.

What did I do wrong?

Not focus on chart setup while I was in position. Bailed out entire position when I couldnt sell half on the ask.

What did I do right?

Entered right at $7 (lots of liquidity on ask) on both times for the SMA breakout. Didn't hesitate at all. Not hesitating was my focus during November and I think I accomplished it pretty well. Now in December, my goal is to hold only my winners as long as possible, even if it means giving some back or not locking in $10-$30 winners.

How can I improve in the future?

Quit focusing on locking in profits for now. I'm better off just holding because it will eventually surge up and then I can easily sell some on the ASK.