BA Trade on Jul 16, 2020 09:33 from CapitalMastery: Tradervue User Stock Trades.

Summary

Was not trading well today, and started fumbling with BA right out of the gate. Took a long position with no entry reason, and stopped out immediately for $9 loss; it just got worse from there. I kept trying to buy a dip that was just selling off all morning. It would have been one thing if I was playing playbook entry signals for the reversal, but I wasn't; I keep trying to find the bottom, and not doing a good job even at that. Looking back, the only decent trade here was after the sell off finished at 11:10am or so, and entering once the 1min 20ma cup entry signal appeared. A good target for a partial would have been the 5min 20ma, and then could have take more off into the 200ma/vwap/morning resistance area and whole number of $182. Signal to take off remaining position was at around 12:30 when the 1min 20ma was breached, and the retest failed. Worst case, breach of the 5min 20ma should have been my final stop out.

Did Right

• Tried to be patient based on experience/learnings from yesterday, but that patience should have been earned, and today was def not the day to be patient.

Did Wrong

• Tried trading BA with no setup; what did I expect?
• Traded BA when it really wasn't in play, and RVOL was low. Should really only scalp in these situations.

Improvements

• Don't trade without using playbook setups; it's a waste otherwise.

Next Trade

Was surprised to see BA sell off today after the strong move yesterday, would expect some sort of bounce/reversal tomorrow. Mayne a move down to $175, and then reverse? Just note that BA did reject/fail from it's daily 20ma today, for what that's worth. Stay open, and let price action drive your trades, if any.