XLE Trade on Jul 2, 2020 14:15 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Consolidation below all MAs and recent highs.
• TTM Squeeze: None
• Earnings Date: N/A
• IV: N/A
• Potential Profit: N/A
• Potential Loss: N/A

Reason For Entry:

• Playing the Daily chart. This trade was straight up a followed trade that I saw Nate had executed. There was no plan and pretty much a straight gamble. Opened my position for 1 contract and risked about 0.5% of my portfolio.

Reason For Exit:

• Price action drifted lower and stayed below all MAs until Nate closed his position and I did as well for a small loss.

Recap:

• The only good thing I did about this trade was position size VERY SMALL. Everything else was terrible: No plan, No strategy, terrible entry on a chart analysis perspective. I will no longer play these "gamble" plays just because I see someone else in a trade. I will learn from this and thankfully this was only a very small loss. On to the next one WITH A PLAN.