FE Trade on Jul 22, 2020 15:19 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: Failed Follow through vs
*Entry: Intended 28.80s, Attempted 27.70s, Actual 27.60
*Risk: 1:3

Catalyst and News:

News carryover from yesterday, allegations of bribery scheme.

Fundamentals:

^

Technicals:

Huge falloff from yesterday, rallied back up after hitting SSR. Hit back to highs of the 29s, constantly held at the 27.60s but began to progressively fail lower near EOD. Perked up to and past the 29s three times, but afterwards the lows back down seemed pretty likely.

Summation:

Unfortunately didn't have the attention free I needed to get in on this one at a better point. Watched it plummet in the morning while I considered very cautious starting short at the 31s after it had already failed a dollar. Knowing that it'd be a while before SSR but still wary, I was watching another ticker when I was alerted of the halts and downwards momentum.

When I checked later and saw the rally, I shifted my attention to watch, even if it was easy to borrow and was in the 27-29 channel for most of the day. Watching it progressively hit lower made me force myself to wait, and while I would have loved to have entered at the high 28s, my entry was only a bit shy of where I intended.

Actually tried to enter the last fail at 27.75, but for some reason my order didn't go through and I got in instead at the 27.60s a few minutes before the crack. Was not comfortable watching the trade when I can't give it my fullest attention, so I went in at half my intended size and waited for the falloff.

Despite the upwards momentum near EOD I figured it wouldn't hold very well after finally breaking down, but I sized down half and waited for the rest, and when it did start to plummet I took off near the new lows of the trend. Feels decent despite the mistakes.

Takeaways:

Listen to the intuition which has previously saved you in other arenas. If you're going short, wait for confirmation of the backside, and always, always, always listen to the tape, no matter how fast it is to read.

Patience is rewarded when you know what to look for, not when you're playing wild. It is difficult to trade in the morning for me, still, to have the conviction to enter when things are most wild, but with practice I will reach it.

Sometimes you must remind yourself that you are the wilderness.