BA Trade on Jul 8, 2020 14:15 from CapitalMastery: Tradervue User Stock Trades.

Summary

This was an OK trade, but honestly I entered too early, before the stock really showed any weakness. Additionally, I was outside of my position guidelines on this trade. One because I thought lot size for BA was 20 shares, but it was actually 10 shares when I went back and checked, but secondly, because I added 6 lots instead of my max 5, regardless of lot size.

Did Right

• Added lots at $180 which was 2day VWAP + a whole $10 number + it had shot straight up $4 with no pullback.

Did Wrong

• Was too focused on the 1min, and got in too early at the first red bar. If I'm going to use the 1min, should really let it show more resistance before starting a shot position. Or, just use the 3min chart. Had I waited for a red bar to close on the 2-3min chart, I would have got in at $179.80 with zero headache, and rode it straight down.
• Better yet, just wait for a bar break to the downside for an entry signal

Improvements

• Work on taking a step back when I see these setups forming, and try to put things into context. Where is the move likely to stall out, where is is likely to break to once I get in, etc...
• Wait for a solid bar break to the downside on the 1min chart, or use a 2-3min chart, and wait for first red bar to close before jumping in short. In general, come up with a systematic entry trigger for these setups.