MRNA Trade on May 7, 2020 08:05 from beno: Tradervue User Stock Trades.

Fundamentals

N/a

Catalysts / News / Painting the picture

-Corona virus sympathy
-Health officials say virus vaccine development has 'no glitches'
-Feb 11 2020: $500m IPO @ $19 per share
-mRNA-1273 coronavirus vaccine sent for testing
-March 16 2020: First human trial of COVID-19 vaccine
-April 15 2020: PT increase to 41, Making new ATH's
-April 16 2020: Wins $483 Million US Government Award To Develop Coronavirus Vaccine
-May 01 2020: Moderna and Lonza Announce Worldwide Strategic Collaboration to Manufacture Modernas Vaccine (mRNA-1273)
-May 06 2020: Weak earnings / lags estimates, FDA approves phase 2 of COVID-19 vaccine

Technical Analysis

-SPY pattern: Consolidation
-Intraday pattern: Bowl
-Levels: 51.5, 53.5, 55.5 - 56, 59

Strategy / Confluence / Sizing Guide / Risk

Strategy: FT-15 long of 55.5 level
Confluence: half $, PM Level
Sizing (lots): 2
Risk (stop / Rs): hold below 54.76

Review / Lessons Learned

This trade was a mistake, the level wasn't clean, this was clearly a revenge trade from my BYND loss. Also sized in way to much for PM to the point where I couldn't add anymore lots because it was not margin-able.

Should add to my process a method to think twice about a trade after taking a losing trade. Need to use self-talk and ask myself if this trade is clearly defined or if I'm revenge trading...

Lessons Learned:

1. Don't size up in PM / AH, use half size!
2. CLEARLY DEFINE TRADES, USE SELF TALK TO CONFIRM PROPER TRADES AFTER A LOSS (ANY LOSS!!!)