TSLA Trade on Mar 11, 2020 11:19 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent high.
- TTM Squeeze: 5m
- Earnings Date: 4/29-

Reason For Entry:
- Playing the 5m chart. This was a day trade (which I am still learning the quick trades) and am more accustomed to swing trading. TSLA was in a TTM squeeze on the 5m chart and price pulled back to the lower BB so I entered (1.5% of portfolio). I set a stop out area and profit zone.
Reason For Exit:
- TSLA consolidated at the support zone and price fired short (while still holding support) My rule is to close the trade in the event price fires short and I did not honor my rule since price was still holding the support zone. Later in the day price broke support and I took the loss (roughly 45% loss)

Recap:
- The trade was valid but I am still not that experienced in the quick day trades. In fact, this was my first day trade on a 5m chart. The quickest I had done before was a 30min. When TTM fired short, I should have just closed the trade as I do on my swing trades. Going forward, I will not trade lower than a 30min chart. With my busy schedule, I don't have time throughout the day to trade quick day trades. Also, when I do trade 30m/1h charts (day trades) I will not risk more than 1% of my portfolio.