DOCU Trade on Jul 10, 2020 10:11 from CapitalMastery: Tradervue User Stock Trades.

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CapitalMastery

 
Summary

Joined this trade late, but the original setup was an ADH 1min 20ma trend reversal. I ended up joining once the 5min 20ma was crossed, but ideally I would have entered once the 1min 20ma cup broke out above $208.68, with a stop below $207.20

In looking back at this trade, it was actually an opening trend bounce, and I could have gotten in much earlier with that setup, but just wasn't looking for it

Did Right
  • Entered a known setup after price action had confirmed the move
Did Wrong
  • Entered late, which put me at greater risk of the trade not working
  • Also, although my exits ended up being great, I didn't really have a good Reason2Exit, and I simply exited into strength which is good, but not great.
Improvements
  • Focus on entering on 1min 20ma cups, to get better pricing. Just need to be careful as the 5min 20ma wouldn't be on your side. I may decide to wait until it is on your side, but for now I'm seeing a lot of upside to entering earlier.
  • While it's ok to take some partials into strength, try to hold a core until a valid Reason2Exit, such as the stock coming back into the 1min 20ma, or the 5min 20ma, this way you ensure you're getting as much of the move as possible.
  • Remember that multiple plays could be setting up at the same time, and try to consider the best trade to take given the context. i.e. this would have been a great opening trend bounce trade, and you would have nailed the exits using ATR quarters.

Execution detail:

Date/time Symbol Side Price Position
2020-07-10 10:11:32 DOCU buy $210.890 long
2020-07-10 10:11:34 DOCU buy $210.860 long
2020-07-10 10:11:34 DOCU buy $210.910 long
2020-07-10 10:11:38 DOCU buy $211.055 long
2020-07-10 10:21:16 DOCU sell $212.000 long
2020-07-10 10:24:39 DOCU sell $212.500 long
2020-07-10 10:24:39 DOCU sell $212.500 long
2020-07-10 10:26:16 DOCU sell $213.000 0


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