MSFT Trade on Jul 24, 2020 09:34 from CapitalMastery: Tradervue User Stock Trades.

Summary

Was expecting MSFT to reverse after the major sell off yesterday, despite solid earnings, but jumped the gun on the entry signal, and ended up having to stop out, before the real up move happened.

Did Right

Had a plan, and waited for an entry signal (although not a good one). Also honored my stop

Did Wrong

Entered on a 1min 20ma cup, under both the 5min 20ma, and the 1min 20ma; as opposed to waiting for an entry signal ABOVE the 5min 20ma, and above the 1min 20ma. There was ultimately a beautiful long entry signal, but I totally missed it, because I pre-exhausted myself on a bad entry, and had lost focus on the stock.

The real entry signal was the failure of the downtrend via the 5min higher low, higher high. Ideally this move would be connected to the 5min 20ma, but often it's still work entering, even if it's just a starter entry.

Improvements

Be super patient, and actually wait for a perfect entry signal. If miss a trade because I'm being too picky, so what. The best moves seem to occur more often after a few 5min bars, as opposed to during the 1st or 2nd candle.

Next Trade

Would expect MSFT to reverse further, and continue to the upside, but would just be a momentum opportunity, similar to trading ROKU.