ORCL Trade on Jun 17, 2020 10:11 from CapitalMastery: Tradervue User Stock Trades.

Summary

This was a great find on the Finviz gap down list. Oracle is typically a strong stock, but had been sold off hard due to missed earning in AH, and more so off the open, and so I knew there was a good chance of a bounce. Although I minimized the crap out of it, this is a good example of my Opening Trend Bounce trade.

Did Right

• Looked for additional opportunities on scan after trading the open
• Was strategic about setting my stop, while staying close to LOD, which helped me avoid getting my stops ran near 12:30, right before the stock bounced.
• Stayed within sizing guidelines for a $50-$100 stock with an initial 50 share trade, and then doubling on the 2nd attempt.
• Added to my position when the bounce confirmed

Did Wrong

• Didn't wait until T1 to start taking off partials; left 85% of this trade's PNL on the table; worst case, had I followed the exit plan 100%, I Would have made $100 on this trade instead of $10; it makes a big difference over the course of a week or month.
• Should have added some to my position when the stock was a couple pennies away from my stop, even if I got stopped out, it's nearly a free add given how tight the risk could have been.

Improvements

• Stick to the exit plan, ESPECIALLY when the stock shows signs of strength as it did here once the significant buyer showed up at 12:30pm. Similar to Roku yesterday, when a buyer suddenly shows up like it did here, the stock is probably going to continue much further than you think, as it takes quite a bit of volume to overcome the selling pressure we experienced all morning.