ADXS Trade on Jan 7, 2020 09:31 from MyTickers: Tradervue User Stock Trades.

ADSX

Technicals & Fundamentals:
Mrk Cp 52M Float 48M IO 16% Short Float 6% Short Ratio .4
News 8:17am
Supports: 1.33, 1.40
Restistances: 1.48, 1.50
Targets: 1.50, PM hod

Trade Details:
I'm disappointed on my entire overall day even though it was a nice green day by the market close. This was my first trade. My original plan was to buy PM support off the open at 1.40 for a r/g move and risk below PM support, it had x 2 news with lots of PM volume. When I entered the trade at 1.39 it continued selling fast and i hesitated to get out right away, first mistake. It formed support at 1.30 and i decided to use that as my risk. This risk should've been determined before I entered the trade, second mistake. I was expecting it to spike fast and it didn't, it started consolidating below VWAP and I got out as soon as the bids pulled out below 1.30. The next support level was at 1.20 so i re entered at 1.27 again risking .8 cents, third mistake. My target now was 1.48. It was an overall terrible trade with terrible entries with terrible range, the only think that was ok was that it was a starter size position. I ended the trade break even and decided to leave it alone. It hit my target mid day but my plan was to cut the trade at 11am.

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 quited my music so I could listen to myself and focus on my trade
- I wanted some coffee but realized i ran out at 9:00am so i rushed to starbucks which caused me to feel a bit rushed now. I also wasn't home alone, i had some distractions around me.
- I told myself not to rush and focus on being patient today and not overly excited to trade.

Comments:
I haven't been able to trade at the open as much lately because of work so I wanted to just focus on one stock, this ended up being the wrong one. I saw a wall of buyers at the 1.30 level but when the rug got pulled I should've left it alone and not fought it for the bounce. It was a quick decision on the open so my plan wasn't done. It was a shit way to start the day.

What I Did Well:
- I identified a stock that had potential to spike on the open.

- Quickly identified the PR in the am
- Didn't hesitate to jump on the momentum on the first pull towards support
- I waited for the open.
- I stuck to my time rule to cut the trade at 11am.
- I meditated and exercised at 5:30am

What I Didn't do Well:
- I didn't read the tape accurately when it was selling off fast at the open
- I hesitated to cut the trade quickly once I had doubt
- I didn't read over my notes to prepare
- I tried to catch a falling knife
- I re entered the trade after the buyers pulled their bids.
- I didn't recognize before the trade this stock had long term resistance and shit range in price.
- I did not identify the best stock in play for am trading.

How I Will Improve:
- I'm going to wait until 9:45 to be able to better gauge the direction of the stock.
- If i feel i am rushing and too distracted I need to sit back and watch and let the trade come to me.
- I cannot force a trade if a trade isn't there.

Biggest weakness(es)/fault(s) on this trade?:
- Hesitation and not cutting my trade as soon as it went against my plan.

How I will improve upon these:
- I am going to take a step back and a break to re assess the trade before getting back in. I need to pay close attention on how i'm feeling at the time of the trade so I don't revenge trade.

How I'm Going to do More of What Worked:
- More early morning news scans because there's a lot more volatility and a higher chance of the stock going up significantly because a positive PR come out. I need to be ready and rested in the mornings and be first to catch the release and make a plan to execute. I will also continue to implement time rules so I don't get caught in mid day trading that usually doesn't play out in my favor.

Biggest Lesson(s) Learned:
- I have to make a complete plan prior to entering the trade. If I am entering without a plan I am not prepared for the trade. Do not rush into anything or I will get caught up in a bad trade with shit r/r and range. I have to make a plan on both the long and short side and be ready for both possibilities.

What Else I Saw/Almost Traded Real-Time:
- I was watching this stock from pm but also watching APOP. APOP was gapping up but was looking weak at the open.

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