AMD Trade on Jul 23, 2020 09:38 from CapitalMastery: Tradervue User Stock Trades.

Summary

Went in with a long bias on AMD, but thought it could also reverse after yesterday's really long range day, and after getting what looked like a 1min 20ma cup to the downside, while under the 5min 20ma, I started a short position that I ultimately got stopped out on. Unfortunately, in looking back, AMD really never pulled back to it's 20ma, and so it wasn't really a full cup. Additionally, given that AMD was in breakout mode, and considering my bias was long, I should have demanded a little more before opening a position, and also maybe not sized into 4 lots.

Overall, this was a solid/disciplined trade. It's a damn good trade, that just didn't work out; which I stopped out of as planned. Couldn't ask for more!

Did Right

• Went in with a pre-planned bias, but remained open to the price action.
• Opened a position as soon as my entry strategy triggered
• Added to the position on a pullback to the 1min 20ma to get some good priced adds
• Stopped out per my entry strategy as planned

Did Wrong

• Honestly, it was a damn good try, and a solid entry.

Improvements

• When entering a position against my bias, start in with 1-2 lots, and only add on further confirmation, that the trade is going in my direction.
• Start using limit orders for entries as I'm getting terrible prices using market orders; especially with the spread on the open.

Next Trade

AMD actually ended up selling off super hard, with the rest of the market, but in bounced huge in after hours on news that Intel is having delays with it's 7 nanometer chips, which will push out devices shipping with the chop to late 2022. These delays in the 10 nanometer chip is exactly what gave AMD it's previous market share grab. Looks like investors are assuming AMD will be able to grab more market share. With this in mind, would expect more continuation to the upside tomorrow.