BABA Trade on Feb 14, 2020 09:38 from TheDumo27: Tradervue User Stock Trades.

Was watching BABA after a weak reaction to earnings yesterday. I was looking to play the break below $220. The market was weak heading into the open but then had a small bounce for the first 5 minutes before the pullback started. BABA instantly dropped at the bell and with the market creeping up initially i hesitated on jumping in short. It bounced off $219.20. I waited for an entry as i didnt want to chase it. I thought i saw continued weakness and potential resistance at $219.50 so i entered. It instantly went against me testing $220. I should have exited as soon as it didnt go my way and cut before it got that far away from my entry. I held onto it as /ES was still showing weakness. I held through a drop below $219 where i was close to closing the trade but continued to hold looking for more being stupidly greedy. I thought to myself to lock the gain as i was lucky that i was up considering the trade initially went against me I hesitated instead of acting on that thought and went it bounced back up. I continued to hold as /ES was still dropping so i figured it would too. Then BABA started going up fairly strong even though the market was dropping. This should have been another sign for me to exit the trade. Held for abother bounce above $220 not wanting to take the loss even though i knew i shouldnt still be in this. It dropped again and tapped $219. This is where i finally decided to get out when $219 found good support and wasnt going to break. I cut my loss since it was small commpared to what it could have been.

Entry: F I missed my initial entry and felt a little fomo so i forced an entry even though i felt like i was being patient. The entry was a good mental half dollar point in my mind but apparently the price action didnt agree. So dont trade what i think should work or sounds good. Let the price action dictate a good entry.

Exit: F Should have exited when it instantly went against me but i hadnt set a real stop loss in my mind before i entered so that was mistake #1. #2 it came back in my favor and was slightly green so was fortunate that happened but still didnt get out. #3 Bounce against me again passed my entry. #4 $219 breach was my last chance of hope but still held out. #5 stock rising against the market direction was my last mistake of an exit.

Emotions: F Horrible patience for a real entry. I didnt feel like i was feeling fomo but my actions tell the truth. Horrible discipline in cutting the loss or taking the profit when i had it back.

Lessons: As always talked about in the group A+ only. It wasnt much of an A+ kind of day but i didnt give it time to see. I need to be more patient and only take solid entries. Never force an entry. Discipline to cut the loss. Have a stop loss in mind before entering and stick to it.