CCL Trade on Jun 17, 2020 10:00 from CapitalMastery: Tradervue User Stock Trades.

Summary

This was actually a great trade, with perfect timing. However, because I was trying to dig myself out of the initial hole I dug, I sized into this trade outside of my guidelines because it did setup nicely. Admittingly, the reason I wasn't early on this trade is because I was originally looking at NCLH, which launched right out of the gate, and never sold off, so I skipped it. Had I been watching CCL, there's a good chance I would have entered too early.

Did Right

• Skipped the NCLH trade since it didn't match my setup, and instead switched to CCL once I noticed it setting up nicely.
• Added to my position once the bounce confirmed, that at least the short term bottom was in. This put me into the trade with a great average.
• Waited until T1 to start taking partials off my position

Did Wrong

• Used 2x the initial size I should have; should have started the position with 100 shares, instead of 200
• Entered a position before the trend line actually broke, but maybe that's ok for the first entry if I feel confident that the bottom is in. Maybe just limit to one anticipation entry, and if stopped out, then wait for candle to actually close outside of trend line before entering subsequent trades.
• Took off too much of my position at T1, and missed an opportunity to squeeze more PNL out of this trade.

Improvements

• Keep initial trade size under 100 shares for $15-$25 stocks.
• Exit only 1/4 of my position at T1, and save rest for Reason2Exit