JPM Trade on Jul 2, 2020 10:26 from CapitalMastery: Tradervue User Stock Trades.

Summary

Noticed JPM was getting extended from the 5min 20MA, but started a position too early cause of FOMO. Fortunately, I was patient on my adds, and waited for the $93 flush, and then also added near $92. This could have been a really great trade if I had simply looked left at the daily, and noticed $92 being a support area. Had I simply waited for the $93 flush, and then added on a $92 flush, this could have been a really great trade. Also, sold way too soon cause I was scared as my average was just ok. In short, this was a practice trade, taking the kind of trades that Alex likes. Still have a lot to learn though.

Did Right

Spotted the opportunity using what I've been learning from ADH/Alex. Overall it was a great opportunity, I just didn't execute it well.

Did Wrong

• Got in too early, on my initial entries. Also, could of been much more disciplined on my adds.
• Did not follow my sizing guidelines on this stock, for a $100 stock, my lot size was supposed to be 20, with maybe 3-4 adds MAX. So I was easily 3-5x max size on this.
  

Improvements

• Be willing to miss the trade in order to get the good prices on flushes of whole/half dollar numbers, once the stock is already extended.
• Only add if another major ever flushes WITHOUT first pulling into the 1min or 5min 20MA.
• Lastly, once the stock does reverse, be patient, and wait for good exits.