MRNA Trade on Jul 15, 2020 10:00 from CapitalMastery: Tradervue User Stock Trades.

Summary

My best executed trade of the day. Had a feeling it would sell off, but then bounce, and so I patiently waited for an entry signal, half expecting the first bounce attempt to faily, which it did exactly that.

Entered a position as soon as a 1min 20ma cup appeared, and added to the position once the subsequent pullback held, and put in another higher high. Exited entire position into the 5min 20ma and $85 whole number, as I still felt MRNA was up too much and didn't trust it, which ended up being a pretty good exit.

Did Right

• Had a premeditated plan, and thesis, and waited patiently for the entry.
• Added to a winner

Did Wrong

• Should have re-entered a position once the 1min 20ma held the pullback from the 5min 20ma, and put in a higher low + higher higher. Could have snagged another $1-$1.50
• Totally missed the short opportunity here, which I should have been looking for given my suspicion that the gap well sell off. In fact, a beautiful reversal cup around $83.50 revealed itself, and from there was an amazing short; another $5.75 on the table :-/

Improvements

• Stay with stocks on my watchlist if the major move/trend hasn't occurred. Makes no sense to spend time planning a stock to trade, when I just waste the opportunity.
• Remember to be open to long and SS opportunities; especially when my gut tells me a stock is likely to sell off. While it's ok to play the smaller dip bounce, also try and catch the major move of the day, and today that was SS MRNA all day long.
• The market sell off was on your side for a SS here, remember to keep that larger context in mind, when thinking through trade opportunities
• Try to use limit orders for better entries and exits; market orders are killing my prices as some of these names like MRNA have large spreads when they're moving fast.