MU Trade on Jun 30, 2020 09:30 from CapitalMastery: Tradervue User Stock Trades.

Gravatar

Shared by
CapitalMastery

 
Summary

Decent trade here on MU, but I admittingly had too much of a bullish bias before any confirmation from price action, and ended up getting in a bit early, right on the open. This led to mediocre entry prices, and ultimately a not great R/R. That aside, it was mostly a headache free trade, despite it not really breakout as I had hoped.

Did Right

Took exits at my target prices which enabled me to sell off, and rebuy/recycle a chunk of my position which helped with the overall P&L.

Also, I feel good about my exits on this one. I was patient initially, but after seeing MU struggle to get above $52.50, I exited the rest of my position right before it fell over for the day. I want to be cautious not to let this turn into an excuse/crutch for exiting trades early and minimizing my gains, I do believe I should listen to what the price action is telling me, and be willing to take profits off the table if the trade isn't behaving the way I'm expecting.

Did Wrong

Didn't wait for price confirmation before taking my first entry, which was simply foolish.

Improvements

Regardless of how great I think a catalyst is, I must wait for price confirmation. A key thing to remember about these positive catalyst is that they often cause a huge gap up, and so these stocks are over extended to the upside on the open. Best to wait for a sell off in order to get better entry prices, and confirm that there is a good trade, WITH a good Risk/Reward to be made.

I also really want to figure out how I can incorporate Alex's technique for getting great entry prices when stocks flush through whole/half dollar levels.


Execution detail:

Date/time Symbol Side Price Position
2020-06-30 09:30:58 MU buy $51.972 long
2020-06-30 09:31:04 MU buy $51.982 long
2020-06-30 09:34:45 MU buy $51.775 long
2020-06-30 09:39:50 MU sell $52.240 long
2020-06-30 09:41:20 MU sell $52.200 long
2020-06-30 09:46:29 MU buy $51.855 long
2020-06-30 10:06:30 MU buy $51.898 long
2020-06-30 10:06:37 MU buy $51.948 long
2020-06-30 10:18:03 MU sell $52.240 long
2020-06-30 10:18:03 MU sell $52.240 long
2020-06-30 10:18:03 MU sell $52.240 long
2020-06-30 10:27:59 MU sell $52.212 long
2020-06-30 10:42:11 MU sell $52.200 long
2020-06-30 10:42:11 MU sell $52.200 long
2020-06-30 10:55:24 MU sell $52.200 long
2020-06-30 11:03:17 MU sell $52.243 long
2020-06-30 11:03:18 MU sell $52.235 long
2020-06-30 11:03:22 MU sell $52.245 long
2020-06-30 11:03:26 MU sell $52.215 long
2020-06-30 11:03:27 MU sell $52.218 long
2020-06-30 11:03:44 MU sell $52.273 0


Leave a comment about this trade!

You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes just a few seconds to sign up, and it's free!

View plans, Sign up for free, or Log in