ROKU Trade on Jun 30, 2020 09:40 from CapitalMastery: Tradervue User Stock Trades.

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CapitalMastery

 
Summary

This is my best trade of the day in regards to how well I traded it. While I overpaid a bit for my entry by being too loose with my marketable limit orders, I'm proud of how I executed this trade. Was patient, got in when price action confirmed, and exited at target price. Very straight forward trade.

Did Right
  • Did my homework on Roku, and understood where the stock was at in it's overall trend lifecycle on the daily. I felt very prepared for this trade.
  • I waited for the sell off to finish, waited for the trend to be broken, and for price to confirm before entering.
  • Exited at my target price.
Did Wrong
  • Was a bit too loose on my limit order prices. Looking back, I can now see I could have easily gotten filled at $0.50 cheaper if I had simply kept my limit price tight. I've gotten into the bad habit of using way out of the money limit orders for quick entries, and exits, but that's no better than using market orders.
Improvements
  • Practice using tighter limit orders for entries. I can always hit the offer/bid if I'm not filled fast enough, but I should at least attempt to get the best possible prices first.
  • This trade would have been a great place to put some wish orders right under $114, in order to catch the flush. That simple technique could have doubled the P&L of this trade.

Execution detail:

Date/time Symbol Side Price Position
2020-06-30 09:40:50 ROKU buy $115.505 long
2020-06-30 09:40:51 ROKU buy $115.510 long
2020-06-30 09:47:32 ROKU sell $116.485 long
2020-06-30 09:47:50 ROKU sell $116.356 long
2020-06-30 09:56:52 ROKU sell $116.620 long
2020-06-30 09:56:53 ROKU sell $116.612 0


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