CTXS Trade on Jul 24, 2020 09:32 from CapitalMastery: Tradervue User Stock Trades.

Summary

Had a short -> long reversal bias going into this trade, but when it showed a bullish looking entry signal on the open (cup on 1min, with entry above 5min 20ma), I assumed maybe the reversal was ready to start, and so took a long position right after that. However, as soon as I entered the trade, I immediately worried about it, and felt like I couldn't trust it, worrying about the QQQs selling off, and so put in a limit order near the next whole dollar and took a tiny profit. Stock ended up not going much further than that, but that was just luck on my part.

Had I continued watching the stock, and looking for a potential short move, I would have noticed the failed retest of $147.50, and could have gotten short on break of VWAP/1min 20ma. I had the stock on watch for a 2nd day trend continuation move to the downside, so I should have been open/looking for that potential.

Did Right

Stayed open to direction, and let price action drive my initial trade.

Did Wrong

• Exited the initial long trade without any real Reason2Sell. Failure of prior afternoon, intraday level would have been a good reason, if I were looking for it.
• Took too many trades at the same time on open; need to stick to 1-2 max, so I can properly focus on each trade.

Improvements

Be more specific during stock selection, and try to focus on opportunities that are a little more straight forward, where I can easily pick a bias. Expecting that a stock could go either way leaves me open to taking any trade.

Next Trade

I'm sure there's going to be a reversal soon, but the stock just doesn't do much volume typically, and so I doubt it'll be a good trader.