DOCU Trade on Jul 8, 2020 14:03 from CapitalMastery: Tradervue User Stock Trades.

Summary

DOCU was kind of looking like SQ, and FSLY, so I was hoping for a similar move for a short. Where things went wrong is that rather than moving on after the range broke out, and I was stopped out, I made the WRONG decision to fight this thing into the close of all places. Had I moved on from this trade once my initial $204.75 stop was hit, it would have been a good trade. Instead, I gave back most of my day on it :-/

Did Right

• Traded a similar pattern/setup that was working for me in order similar names

Did Wrong

• When I put this trade on initially, it was just a 50/50 trade, that I thought was worth some risk. When it didn't work out, and I was stopped out, I should have moved on. Choosing to fight the price action is where I went wrong.
• Fighting a strong name like this, into the close is NEVER a good idea.

Improvements

• If I'm going to put on a 50/50 trade, then be willing to accept that 50% of the time they don't work out, and move on when they don't.