BA Trade on Jul 15, 2020 09:33 from CapitalMastery: Tradervue User Stock Trades.

Summary

Was waiting for a long entry signal on BA, and entered on what appeared to be a 1min 20ma cup break up above the first 1min red bar, and so jumped in for a ride up, but quickly scalped some gains, and was half thinking of shorting it back to the 1min 20ma checkin, but instead waited to see if a long entry would setup. BA seemed as thought it was going to hold the 1min 20ma, and make another leg up from there, and so I got in on that entry trigger. However, I quickly got out as something didn't feel right; sure enough the market started selling off, and BA with it. Got out, and waited for a dip buy opportunity.

As soon as BA made a push into the 1min 20ma, pulled back and made a lower low, and then pushed through the 1min 20ma, making a higher high, I started a long position there, and sold into the immediate strength that came in for a quick buck.

Finally, when BA pulled back into the 1min 20ma, which started to support, I re-entered my position, and held for a push into $185 which was obvious resistance from the morning. Took the position off there, and moved onto the tech stocks that began selling off super hard.

In the back of my head, I was expecting the entire market to sell off the vaccine news, and so I didn't really trust BA for any long term moves. This was my mistake; should have let price action be the final say, and I could have nailed the monster up move in this stock.

Did Right

• Had a premeditated bias, and waited for an entry trigger/signal before opening a position
• Took gains into strength
• Re-entered my position when it looked like the 1min 20ma was holding, and was able to recycle that dip buy position, which was nice.

Did Wrong

• Shouldn't have taken my entire position off, at least not until the 1min 20ma was penetrated to the downside.
• Should have entered with more size on the dip buy, I was patient, and had a very clean entry signal, should have been near max size.
• I should not have taken my eyes off BA; it had gapped up nicely, it was on my watchlist, I had a bias, and it was only selling off with the market. I should have stayed a little more patient, and focused, and not missed the dip buy opportunity when it sold off into the $181s. Especially since it found support right at yesterday's high. As soon as it broke above $183, I should have started a long position, with a stop below 181.74, and stayed in until I had a valid Reason2Exit.

Improvements

• When you feel comfortable entering a trade because it setup perfectly, you should be half size immediately, and looking for any reason to add up to max size.
• Stick with stocks on your watchlist until you either miss the move, or nail it. There's zero excuse for you missing this $8 move today.
• Once you enter a position, use the 1min and 5min 20ma, to help you stay in the trade.

Example 1min 20ma Trailing Method