CTIB Trade on Jan 6, 2020 14:30 from MyTickers: Tradervue User Stock Trades.

CTIB

Technicals & Fundamentals:
Mrk cap 2M Float 1M IO 4% Short Float 4% Short Ratio 1
News 1:30pm
Supports: 2.48, 2.38, 2.20
Restistances: 3,3.18 , 3.50
Targets: 3, 3.20, 3,40

Trade Details:
I entered this stock when I recognized some shorts starting to get squeezed at 2.20. This company is a POS but with only 1 M float and 22M volume I thought it could squeeze eod. This was 2 trades. I felt the afternoon was slow so i just wanted to nail and bail a trade. This stock came out with news at 1:30, CTI Industries Enters Into A $5m Strategic Equity Commitment At A Fixed Price Of $1.00 Per Share Of Common Stock, Will Amend Agreement With Its Lender, Submits First Plan To Regain Compliance To Nasdaq. To me it seemed this could cause the stock to dump quickly but i thought it could bounce to the 3.50s before it started to unwind. I bought at 2.65 when i saw the first pull back risking 2.52. My plan was to sell on the way up at 3, 3,20 and 3.50. Right after my entry the stock slowed down but bidders were able to hold it in the high 2.50s. I sold half my position into the 2.80s when I saw some resistance on the tape and moved my risk to my entry. This stock wasn't doing what I wanted, it was taking too long to execute my planed targets. When buyers came in and pushed the stock to 3.20s I sold a quarter position and moved my risk up again to VWAP. As soon as it cracked back below VWAP I closed the trade for a gain. The second trade I waited for more confirmation and when it went back above VWAP i entered at 3, the tape felt heavy and i was starting to feel doubt so I took half off at 3.23. I then moved my risk to my entry and got out at 2.98 when it started selling fast. I'm glad I stuck to my plan and took what the market gave me. One Good Trade.

My Mood Today and How I Dealt With It:
- I was somewhat nervous, a bit overly excited to trade but rested. It was my first trading day of the year and I just wanted to be green.
- I kept calm so I could listen to myself and focus on my trade,
- I ate some lunch and was home alone with no distractions..so good!
- I really wanted to focus on not over trading today and stay not overly excited to trade.

Comments:
I almost got out quick because it didn't continue its momentum right away but I was patient and stuck to my plan. It was a slow day and I felt nothing was really looking interesting to me. When I saw the stock starting to wake up I got excited and just wanted to be in the trade. My loss from last week helped me be more patient on this trade. I saw a wall of bidders and thought it would at least push to VWAP. It took longer then I expected but i'm happy with my focus on taking profits and not overstaying my welcome in this trade. My second trade I wanted buyers to come in faster, it was getting closer to the market close. I think I did a good job in identifying that the stock was heavy with bad news. I got out to be safe and did not over trade. First day of the year is green! I nailed and bailed like i wanted.

What I Did Well:
- Read the tape accurately, saw a wall of sellers everytime volume started coming in.
- Quickly identified the PR and gauged the price action.
- Didn't hesitate to jump on the momentum on the first pull back and execute my plan.
- Recognized this stock had potential for unusual movement and gave it a shot.
- Didn't give into the urge to get out right away and make money, I waited for indication on the tape that sellers were stopping the stock from continuing higher.
- Took profits; didn't hold and hope.
- I was conscious of my emotion and focused on making a good trade based on my plan.

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 don't believe i had a great entry and need to work on letting the stock go without me.

How I Will Improve:
- I am going to make a timer to make sure I meditate early in the morning
- I'm going to focus on my entries and pay close attention to stronger support levels for better r/r.

Biggest weakness(es)/fault(s) on this trade?:
- My entry needed to have better r/r. I believe after reviewing this trade I should've let it go.

How I will improve upon these:
- There are times to go long, times to go short and times to go fishing.. I need to go fishing sometimes. If there are no good plays with great risk reward I should watch from the sidelines. I need to pay closer attention to the volume compared to the morning to better gauge the trade.

How I'm Going to do More of What Worked:
- I'm going to continue to scan the markets for PR and late day bear traps after 2:30. I'm glad I waited until 2:30 and didn't get too excited to enter a trade prior to this time.

Biggest Lesson(s) Learned:
- I have to be quick if i'm going to catch the momentum on a squeeze, I hesitated to put in an entry at 2.40 when I told myself this now has potential to run to 3.50s.

What Else I Saw/Almost Traded Real-Time:
- I was watching this stock while i was also watcing SDC, PLUG, INPX and CLSD. I feel like I was looking too hard for a trade and didn't let the trade come to me.

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