WORK Trade on Jul 14, 2020 09:48 from CapitalMastery: Tradervue User Stock Trades.

Summary

This was my best/cleanest trade of the day. WORK had broken out the previous day, but was hampered by the market selling off, and so on open I was looking for a reversal. However, I patiently waited for price action to confirm, and waited for an entry trigger. This allowed me to avoid another nearly $2 of downside. But as soon as the entry trigger (1min 20ma cup to upside) presented itself, I started a position, placed my stop, and let the trade work; holding it all the way to the 5min 20ma. Given that the stock was still strong, I should have given it a little more room, but honestly, this was still a great hold compared to other trades. Aside from holding a core for more upside, this may have been my best trade yet.

Did Right

• Had a clear plan, and executed that plan
• Waited for entry trigger, and executed trade as soon as trigger happened
• Held trade until 5min 20ma, which is a really great place for a partial, or even the whole trade, in some circumstances. Basically held through a pullback, and captured more upside, which is def progress for me.
• Aside from an initial scalp, the core trade basically had 1 entry, and 1 exit. Super clean.

Did Wrong

• Did not have enough size on this trade, given how clean it was, I should have at least been 3-4 lots. Honestly though, this was a 5 lot, max size trade; left $144 on the table by not being max size, in this exact trade.
• Ideally, should have only taken a partial exit at 5min 20ma, and left some on for more upside, given that the stock still was trending cleanly up. It was straight green 1min bars for another $0.40

Improvements

• Take more advantage of these trades, when they behave so well. Get bigger, and hold longer!