SVRA Trade on Dec 30, 2019 09:31 from Marius: Tradervue User Stock Trades.

Markets pulling in more than normal on last trading week of the year. Low cap biotech names with news/fundamental catalysts have been seeing movement the last 2 weeks. Working on opening drive trades currently as it is currently showing strength. After today's mishap I will be having to re-evaluate and re-build trade handling and strategies.

Savara Inc. (Nasdaq: SVRA), an orphan lung disease company, today announced that the U.S. Food and Drug Administration (FDA) has granted Breakthrough Therapy designation for Molgradex, an inhaled formulation of recombinant human granulocyte-macrophage colony-stimulating factor (GM-CSF), for the treatment of aPAP.

RVOL - 286.81
AVOL - 542.75K
ATR - 0.16
Short Float - 2.48%
Inst Own - 42.90%
Shs Float - 33.21M
Market Cap - 66.36M

Trade Management / Trade Review

I think what triggered me into a domino of less productive decision making is when my orders were rejected at the open. I saw my plan and executed it as thought out but technical execution issues appeared. Buying power was not matching up with my order. I was entering with a too large order than what my trading account was capable of. This may have turned into a great scalp. I continued watching the tape as the seconds tacked on. I decreased my order so that it would be accepted. I got a bad fill and price was no longer supporting my scalp and I hit out. This was a big loss and almost 4x my daily limit.

I created a short order breaking LOD and also got rejected due to sizing parameters. I watched the price action and tape and saw no follow through. I decided to not adjust/execute the order. I would have incurred another loss here but under control. Third mistake was entering on a reversal. I knew that this was not an opening drive play but decided to play it. The error happened again when my size was not being accepted. I played a price level resistance hold/break. It didn't hold and risk was managed as defined and acceptable here but still adding to the loss for the day. I'm down to zero trades for the time being.

This is a major learning experience for me. Unexpected situations will come and I will miss moves. But simply trying to get in after the planned move on certain strategies is recipe for failure. Going to re-evaluate position sizes and re-work on managing my risks. Losing 4 figures in the first part of the day is definitely not sustainable with the current progress I'm making. This was eventually going to come knowing my risk not as tightly managed and playing momentum. This is a trade area of strength (based on data on hand) that needs further development in the right direction.

I was originally tracking another stock but chose this one due to the gap fill potential. This stings thus far in my trading career and it will be short lived if I don't fix this. This is something that I can learn from and experience to grow and pick up from on the trading business, however this is not acceptable on any accounts. Until I exactly and properly know my ordering capacities and parameters on live I'll have to be way more cognizant of all scenarios.