ROKU Trade on Jul 14, 2020 09:32 from CapitalMastery: Tradervue User Stock Trades.

Summary

Super proud of this trade. Was looking for a rebound/reversal today, given the crazy sell off yesterday, and since I had noticed ROKU being super strong during the selling, compared to peers. So, on the open, I waited for an entry signal, which I got with a 1min 20ma cup break right at $150. It took me a sec to process and accept the entry signal, but I started a position shortly after, and traded ROKU move to move, for the rest of the open/morning.

Did Right

• Had a thought through bias, based on prior day's experience/price action, and executed accordingly.
• Despite having a bias, I waited for an entry trigger to enter a position; basically waited for price action to confirm my thesis.
• Stopped out of my re-entry/add, once LOD broke, since I had re-entered with the assumption that the bottom was in. Once this thesis proved wrong, I got out, and avoided another $3.25 of downside. This put me in the perfect position to re-enter on the backside of the sell-off, and make a nice chunk riding ROKU back up.
• Took some profits at the 1min 20ma
• Re-entered, and scalped a bit more, once I realized I had exited too early

Did Wrong

• Took off the entire position at the 1min 20ma, which didn't really make any sense. At most, I should have taken a partial, and left the rest on until either VWAP/2min 20ma, or $150 psychological, or until ROKU showed a reversal pattern. I left an easy $5 of upside on the table.
• Didn't have enough size on the backside of this bounce. Considering the sell off yesterday, and the continued sell off today, as soon as ROKU did bounce, I should have sized in nicely. this was certainly a max size opportunity.

Improvements

• While it's ok to take partials along the wait, wait for a Reason2Sell when taking size off. Especially since this was a really good setup.
• Look to size up in A+ opportunities. It's understandable to start in with partial positions, but be looking for reasons/places to add to your position. Each time the 1min 20ma holds, is a great idea.
• Don't be so quick to sell when the stock stops moving up, remember that stocks don't move straight up, and so you want to give it space/time to keep going up. Have a stop, and a process for moving up that stop, but the best up moves come after a held pull back.