WKHS Trade on Jul 2, 2020 12:49 from CapitalMastery: Tradervue User Stock Trades.

Summary

Was watching WKHS, and noticed it broke through it's 5min and 1min 20MA. Once I saw it rejecting on the 1min 20MA, I sensed it was going to fall down, and so entered for a quick short scalp, and it flushed immediately to $21, so took the gain.

Did Right

Waited for an opportunity that aligned with what I've been learning from Alex/ADH lately.
Stayed in the trade, and waited for a reason2cover (the flush to whole number)
Honored my sizing guidelines, which made me feel super safe in the trade, even if it didn't work out. This ultimately allowed me to be patient in the trade.

Did Wrong

Technically this trade was not in my playbook

Improvements

Add the trade to my playbook
Wait for it to at least break through the 1min 20ma before I consider the downtrend broken, as this stock went another $1.25 before finding some support.

Execution detail:

Date/time	Symbol	Side	Price	Position
2020-07-02 12:49:25	WKHS	sell	$21.470	short
2020-07-02 12:51:49	WKHS	buy	$21.000	short
2020-07-02 12:51:52	WKHS	buy	$21.000	short
2020-07-02 12:51:54	WKHS	buy	$20.940	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=WKHS&trade=17104252&end=20200801&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=WKHS&trade=17104252&end=20200702160000&i=m60&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=WKHS&trade=17104252&end=20200702132054&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=WKHS&trade=17104252&end=20200702160000&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

manowar41

2020-07-03 05:37:57

Where you get the borrows?

DannyBoy1024

2020-07-03 08:59:19

Nice trade, I dont short, but I was scalping WKHS all day yesterday was Up $400 for the day. WKHS has been so good to scalp this week...it's been my goto stock for the week. As long as it keeps giving this good price action I will be riding it....Cheers

dpaleo

2020-07-05 16:53:37

Nice trade CM! Great timing on the entry! That 15min bear flag underneath vwap, with a couple rejections of vwap, was a nice lil setup. Good stuff

CapitalMastery

2020-07-08 20:50:27

Thanks guys! I'm at E-Trade, which actually has pretty damn good borrows.