Shared by
CapitalMastery
Summary
PFE had some good vaccine news, and so was hoping for continuation to the upside after some initial selling, but got in way too early, and with too big of a stop. While I'm glad I did stop out per my plan, and then re-entered once the bottom was in, I should have done my homework on PFE to know that it has a 5.5B float! With an 0.81 ATR, and so was expecting way too much range out of it.
Did Right
- Had a thesis, and plan before getting into the trade
- Stuck to my playbook setups
Did Wrong
- Didn't do my homework on PFE, as I should have known the float, ATR, etc... before taking a trade. I'm not being a professional if I don't know what I'm buying.
- Wasn't patient enough on sell off, and really didn't get great prices.
- Set stop way too big given the ATR on this stock.
Improvements
- Look up each of the stocks I plan to trade each day on Finviz before entering a position, will be much more prepared
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-07-01 09:33:14 | PFE | buy | $34.478 | long |
| 2020-07-01 09:37:32 | PFE | sell | $33.970 | 0 |
| 2020-07-01 09:40:06 | PFE | buy | $34.075 | long |
| 2020-07-01 09:40:07 | PFE | buy | $34.065 | long |
| 2020-07-01 09:47:33 | PFE | sell | $34.172 | long |
| 2020-07-01 09:48:01 | PFE | sell | $34.205 | 0 |
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