Shared by
CapitalMastery
Summary
Took an initial trade pre-maturely, but after getting stopped out twice, I left it alone as it was noticeably weaker than the other market stocks I was trading.
Did Right
- Stayed within established sizing guidelines for a $15-$25 stock
- Moved on after realizing the stock was super weak
Did Wrong
- Jumped into a position too early, without waiting for an actual trend to form, and then be broken. You can't have an Opening Trend Bounce without a trend :-/
- This was a redundant trade given that I was already in UAL and CCL, given that each of these stocks were following the market.
Improvements
- Wait for an actual downtrend to form, and then break; otherwise, you don't have any edge, and your results will be random.
- See out the strongest market stock, and only trade that one for the bounce.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-06-17 09:31:57 | OXY | buy | $19.934 | long |
| 2020-06-17 09:34:51 | OXY | sell | $19.690 | 0 |
| 2020-06-17 09:41:17 | OXY | buy | $19.758 | long |
| 2020-06-17 09:58:06 | OXY | sell | $19.440 | 0 |
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