NIO Trade on Dec 30, 2019 14:24 from MyTickers: Tradervue User Stock Trades.

NIO

Technicals & Fundamentals:
Float-3.8B IO-47.50% Short-30% Float-743M ATR-.3 Vol-433M
News x 3 all in am
Supports: 3.80, 3.70, 3.57
Restistances: 4,4.10, 4.20, 4.50,
Targets: 4, 4.21, 4.48

Trade Details:
I took two different trades on NIO but I'm overall disappointed with these trades. This first trade was at 2:24 in full size. My plan was for a bounce off VWAP with a target at 4.50 by eod. It started to work for me but shortly after it started having some difficulty in the 4.10's. The volume was low and it seemed to have run out of steam. I kept watching the L2 and when it started to curl back to VWAP i got in doubt so I got out. I kept watching the stock trade, it cracking below VWAP so I made another plan to execute another long position at the next support level for a potential late day push. I kept a very tight risk level of a few cents but the volume just wasn't there, again i got out on my second attempt. The move was in the AM but unfortunately i couldn't be there.

My Mood Today and How I Dealt With It:
I was somewhat rushed today, I had a busy morning
- I kept calm and started to try to listen to myself and focus on what was in play for any afternoon trades.
- I ate some lunch but was not home alone and had some distractions around me.
- I really wanted to focus on being patient and look for the right trade and not get overly excited to trade.

Comments:
I traded for a late day bounce off VWAP, it didn't work so I got out and decided to stay safe. After these two trades I felt I was rushing, I wasn't around all day and wanted to catch up on everything too quick not allowing myself the right focus. I felt distracted. I had a target of 4.20 and 4.50 but the volume died off and the stock wasn't moving like I wanted. This is also a stock with a large Mrk cap that trades differently then a low float stock. I should've recognized the move the stock made from 3.50 to 4.80 was big with volume, now at 2:30pm the volume decreased significantly and it seemed buys gave it up. The news on this stock was also a loss on earnings. After the price cracked below VWPAP and didn't reclaim right away i should've left it alone.

What I Did Well:
- Read the tape accurately, saw the right moment to enter the stock and not chase any price.
- Quickly identified a trade and made a plan to execute. I did not impulsively enter either trades.
- Didn't hesitate to execute my plan once the price hit my entry.
- I had patience to see if a move late day would happen and when it didn't I got out and moved on.
- I was conscious of my emotion and focused on making a good trade.
- I cut the trade once i felt some doubt

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 to prepare
- I fought my bias and didn't recognize the importance of the volume decrease in the stock. - I was to focused on this stock when there was other opportunities.
- I also traded prior to 2:30, this is a rule i need to implement on myself and really stick to it.

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
- Tomorrow I will not trade before 2:30

Biggest weakness(es)/fault(s) on this trade:
- I re entered the trade after it confirmed it was not working and when it cracked below VWAP. I need to exit a trade that doesn't work and move on to other opportunities. The volume was not there and I stayed around.

How I will improve upon these:
- If I recognize the price is not moving in my favor I will exit, watch for a actual confirmation and volume increase and/ or move on to the next stock.

How I'm Going to do More of What Worked:
- I will continue to to cut my trade quickly if it's not working in my favor or looks weak on the L2. Once the price confirms I'm wrong I will continue to cut the trade and move on to the next stock.

Biggest Lesson(s) Learned:
- Once the trade confirms i am wrong I should not re-enter shortly after. I need to wait and gauge what the price is telling me.

What Else I Saw/Almost Traded Real-Time:
- I was focused on NIO but i was also watching SVRA on a different chart. When SVRA reclaimed VWAP and buys started stepping in i told myself this was going to squeeze. If a trade is not working for me i need to move on. SVRA is a stock i could've capitalized more on. I decided to cut this trade and move on to SVRA for a eod trade.

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