RAD Trade on Dec 27, 2019 14:15 from MyTickers: Tradervue User Stock Trades.

RAD

Technical & Fundamentals:
Float-1B IO-50% Short Float-52M Short-27% Vol-48M ATR-1.38
News-6 and another on 28th
Supports: 21.20, 21.00 , 20.30
Restistances: 21.50, 21.70, 22
Target(s): 22

Trade Details:
This was a trade I wanted to enter and exit quickly but it didn't work for me, I was to early. My plan was to buy as close to intraday support for a late day push to VWAP. I kept seeing a lot of buyers on the L2 everytime it got close to the 21.20s. I decided to then use that as my risk and wait for PH eod touch of VWAP. This stock has been up a lot from 8.75 to 23.75 in 6 days and today was the first red day after its third gap up. After writing this I feel this was a really stupid trade. Shortly after I saw support holding again I decided to try for a VWAP touch or reclaim for PH. I saw buyers coming in and got in as I planed, risking .10cents. I then did something stupid and chased, entered at 21.46 just in front of the next resistance level at 21.50. Right after I entered another tier i felt I was forcing this trade and it stared slowly dropping back to support. I decided to get out and just watch. I took a very small loss. Right after I closed the trade the stock jumped up and touched VWAP a point from my original entry.

My Mood Today and How I Dealt With It:
I was somewhat nervous, but excited and rested because i didn't have to go to work today and could watch the markets all day.
- I kept calm and quit my music so I could listen to myself and focus on my trade
- I drank some coffee and was home alone with no distractions.
- I really wanted to focus on being patient today and not overly excited to trade
- I felt really good that I was in control of myself and not over trading.

Comments:
I think I had a good idea and a good first entry but I wanted the stock to quickly start working for me. Since i wasn't in full size i decided to add a tier for a quick spike but it didn't happen so I cut the trade. Right after buyers came back and proped up the stock pushing it back to 21.50 consolidated and and spike to 22.20. I wasn't angry the stock did exactly what i wanted it to do right after i got out but glad my thesis for the trade was right. It was still a very risky trade and one that I will avoid to enter in the future. After bouncing off VWAP sellers came in and knocked it down, cracking below 21.20 support. I did a good job reading the tape to try for a late day push on the long side, it just didn't work. One thing i've been working on is not trading before 2:30. Everytime I trade before 2:30 in the afternoon it usually doesn't work for me. If I waited for this play for after 2:30 it would've worked. This is just something I'm going to pay more attention too, I need to wait for further confirmation and wait until later in the day to execute a trade. I think If i had waited for after 2:30 i would also feel more confident entering with a larger position size. After this small loss I decided to stop for the day, it was also friday and I didn't want to start forcing anything.

What I Did Well:
- Read the tape accurately, Saw buyers holding the 21.20 but I was still scared because its been up so much in the last week and its the first red day.
- Quickly identified risk level and targets for the trade.
- Didn't hesitate to execute my plan and stuck to it
- Recognized this stock was not working for me and cut my loss quickly.
- Didn't give into the urge to get back in and keep pushing the trade, it moved after I got out and I didn't chase the price.
- Took a very small loss; didn't start impulsively trying to buy in again or chase it.
- I was conscious of my emotion and focused on making a good trade and i'm glad I cut my loss quickly.

What I Didn't do Well:
- I didn't meditate in the morning to make myself feel balanced and better focused.
- I didn't read over my notes from the previous day
- I traded before 2:30 for a late day play.
- I should not try to force trades and reevaluate r/r before entering the trade taking ALL parts of the trade into consideration.

How I Will Improve:
- I am going to make a timer to make sure I meditate early in the morning
- I'm going to create a list of my biggest trading mistakes and direct all my focus on fixing whichever one is most detrimental currently instead of trying to fix everything at once
- I will not allow myself to trade before 2:30 for any late day trades.

Biggest weakness(es)/fault(s) on this trade:
- I did not take enough consideration for the bigger picture of this stock.

How I will improve upon these:
- I am going to not rush into a trade. I need to take all parts of the trade so I can have the best r/r. I am going to create a checklist of everything I need to know prior to executing a trade. I will then print this checklist and stick it beside my monitor so I can make sure all points are checked prior to a trade. I believe this will help me slow down and not be impulsive on any trades. Another thing I need to work on is being able to once the long trade does not work there was opportunity on the short side. Prior to entering the trade I should know how to trade it long and short and vice versa.

How I'm Going to do More of What Worked:
- I will continue to look for intraday support or resistance levels for any late day plays with great r/r. I need to be ready and rested in the morning and be able to identify the right stocks in play. I will only be as good as the stock i am in.

Biggest Lesson(s) Learned:
- I should keep listening to myself on what makes sense to me. I had a play that played out but I broke my 2:30 rule and this caused the trade to be a small loss when I could've been profitable. I am happy that I cut my loss quickly when the trade wasn't working out, I felt a sense of self control and didn't let my emotions take over. I should never over stay my welcome and just take a small loss if I feel the trade is not doing what I expect. Don't fight with the market and don't take it personally when the stock does what I want right after I close the position.

What Else I Saw/Almost Traded Real-Time:
- I was watching too many other tickers during this time. This took away from my focus. I Sometimes I get too distracted on too many stocks and don't give the best stock in play my full focus. After this trade did not work out for me I still stayed and watched it trade until the close.

I am a casino. I have a slight edge, therefore I will place little importance on the outcome of the next trade(s). The market is composed of a high degree of randomness and uncertainty. I am not in a battle with the market, the market is not against me - I am merely in a battle against myself whilst trying to navigate the markets