NFLX Trade on Jul 16, 2020 16:12 from CapitalMastery: Tradervue User Stock Trades.

Summary

Total gamble, hail mary trade to get me green. While it worked, this is not how I want to trade, nor should I trade. My goal is to become a professional trader, and this shit was total amateur hour.

Did Right

• I at least did some quick research on why NFLX was down so much
• Quickly put together a long thesis given that they had great earnings, yet the knee jerk reaction from the market was to dump it. Not saying I should have taken this trade, nor that I even had this much foresight when taking the trade, it was at least an educated guess/gamble.
• Not that it was intentional, but at 40 shares, I was within my sizing guidelines; which my max shares for NFLX is 50
• Scaled into a position, which enabled me to average into a decent price, as opposed to going all in at $468.90, which is basically where I ended up exiting.

Did Wrong

• Took this trade with no plan, nor exit strategy; total gamble.
• Traded in the after hours, which is against my rules

Improvements

• Don't take bad trades out of desperation for a green day. Green days are an end result that is not directly within your control. The only thing you can control is trading well, sticking to your rules, and following your process. That's it.

Next Trade

Expecting a bounce tomorrow; hopefully we get a flush/selloff on open, so we can get in. Although, I'm totally prepared to take it long if a the 1min 20ma cup hold entry signal appears (higher low/higher high on 1min 20ma).