NLNK Trade on Dec 27, 2019 09:30 from MyTickers: Tradervue User Stock Trades.

NLNK

Technical & Fundamentals:
Float - 116M IO - 27% Short Float - 29M Short - 6%
News 2, Dec. 26TH, previous day
Supports: 3, 2.90, 2.75, 2.60
Restistances: 3.10, 3.18, 3.30, 3.50
Targets: 2.90, 2.76, 2.65

Trade Details:
I was watching this stock yesterday and it kept holding support at 3. However, it was still very weak eod below VWAP. It had news yesterday on a license agreements causing the stock to gap up and run to 3.60 before selling off the rest of the day holding below VWAP and after 10:15 am. I made the plan to short this stock and risk the 3.20 previous day resistance area at the open after watching PM behavior. During PM it started to gap up from the close but quickly started selling off around 7am. It held around the 3.20's area then dropped to the 3's area. I started to short into the morning push towards 3.20, risking 3.20 resistance area with a plan to hold for the morning drop to the 2.65 support. On the open I saw heavy selling into the spike which gave me confidence to add to my position and still holding the 3.20 risk. when it dropped to test the 3's I saw more selling and decided to add another tier for the wash. I got out of the position in 3 tiers and was happy with my overall trade. One good trade.

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

Comments:
I had all good entries that quickly started working for me. I had no reason to sell and stuck to my plan. What made me a bit nervous was that I haven't traded in the morning in quite some months and wanted to take it slow and not rush into any trades and on mrk open I was already in 2 trades. I kept telling myself to take it slow and only sell if I had a reason and not because I wanted to just jump into another stock. I envisioned my trade and it worked out just as I planned, I love it when that happens. This trade gave me some confidence for the rest of the day but I still kept telling myself to let the trades come to me. It was a good way to start the day. I entered my trades with 3X 1/4 sizes and didn't have full size at the end of the trade. I think I did a good job watching this stock behave after its third green day from 1.60 to 3.60, I made the right decision but should've been full size.

What I Did Well:
- Read the tape accurately, saw previous day resistance after the stock had 3 huge green days and started to look weak on the tape and chart
- Quickly identified risk level and targets for the trade
- Didn't hesitate to execute my plan and stuck to it
- Recognized this stock was started to gap up PM but quickly sold off towards previous days support.
- Didn't give into the urge to get out right away and make money, I waited for the open and stuck to my plan with no reason to sell.
- Took profits; didn't hold and hope for too long after my target was hit.
- I was conscious of my emotion and focused on making a good trade.

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
- Didn't make the trade with full size once I saw the tape confirming my thesis for the trade, I should've added 2 tiers at the 3.15 price because of my decreased risk level.

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 focus on my size and how I can have a bigger position when the trade is working for me. I was scared to be in full size and I need to recognize this when I'm in the trade.

Biggest weakness(es)/fault(s) on this trade?:
- Hesitation and not adding additional risk when the trade is working for me

How I will improve upon these:
- I am going to figure out how much size i should be putting into a trade compared to my risk. I need to work on my sizing and proper risk management to ensure i'm scaling in properly or sized right if its a one shot trade. I'm going to do some self work to make sure i have no hesitation knowing how much size i should have on a trade compared to my risk level.

How I'm Going to do More of What Worked:
- I will follow a stock for a few days after it's top gainer day to identify good r/r opportunities. I need to be ready and rested in the morning and be able to identify the right stock in play.

Biggest Lesson(s) Learned:
- I have to be quick to add more size when the stock is behaving according to plan. It was good to see that the stock washed out right after a quick morning spike. This showed me that I should never over stay my welcome after my target has been hit on a plan unless its a 1/4 position to see what happens.

What Else I Saw/Almost Traded Real-Time:
- I was watching this stock once I was in the trade but I was also watching FCEL to sell my PM position at the open. I am going to avoid trading 2 stocks at once at the open so i can focus all my attention on one. I sometimes get too distracted on too many stocks and don't give the best stock in play my full focus.

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