HAS Trade on Jul 27, 2020 09:31 from CapitalMastery: Tradervue User Stock Trades.

Summary

Best PNL trade of the day, but not a great process trade. Had a short bias on HAS, but never got an entry signal.

Ended up taking an anticipation entry, and added after a small 1min 20ma cup to the downside. Covered too early as my targets were arbitrarily based on quarters.

Did Right

Had HAS on watch list, with correct bias

Did Wrong

Entered gut feel trade, without any specific setup/strategy in mind. Just took a scalp as I didn't want to miss the down move.

Improvements

While gains are nice, my main focus right now is on edge discovery, which requires me to take trades based on specific Playbook setups, so I can track an analyze their results.

Next Trade

If HAS can gap down a bit towards/below $69, we'll have a nice breakout short trade.

Execution detail:

Date/time	Symbol	Side	Price	Position
2020-07-27 09:31:24	HAS	sell	$74.730	short
2020-07-27 09:35:47	HAS	sell	$73.900	short
2020-07-27 09:38:42	HAS	buy	$73.352	short
2020-07-27 09:38:57	HAS	buy	$72.760	0
2020-07-27 10:16:04	HAS	sell	$72.468	short
2020-07-27 10:29:19	HAS	sell	$73.110	short
2020-07-27 10:29:19	HAS	sell	$73.110	short
2020-07-27 10:51:25	HAS	buy	$72.510	short
2020-07-27 10:52:08	HAS	buy	$72.510	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=HAS&trade=17959898&end=20200826&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=HAS&trade=17959898&end=20200727160000&i=m60&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=HAS&trade=17959898&end=20200727105508&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=HAS&trade=17959898&end=20200727125708&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

dpaleo

2020-07-28 07:55:27

1st entry was decent for a dabble bc 1min is green hammer so buyers trying to BTFD. But 2nd candle sellers say "not so fast." Next candle $75s reject again giving you some confirmation of your bias. love the 2nd entry. Yea, a little quick for those 2 covers but not terrible. The first add back on bounce is ok into vwap area. The 2nd add back seems forced to me. At this point vwap remount is confirmed. Still a decent trade with the right bias. Nice job

CapitalMastery

2020-07-29 00:55:03

Bro, I love the way you can read every candle to tell the story of what's going on in these trades. I honestly don't see these details yet, in the moment. For me, it's still just a gut feel that something makes sense from my screen time to date. I'm sure subconsciously, I'm picking up on some of these details which is what's helping compel me to take the trades.

Also, you're 100% correct on the 2nd entry, of the re-add; my mindset in the moment was to average down, so I could trade out, without a paper cut. I know this is a terrible habit, and something I certainly need to cut out stat, as when it doesn't work, it's REALLY not going to work.

dpaleo

2020-07-29 13:29:28

it takes time to master reading price action and recognizing/reading what that candles are saying as well as other "tells". That will come with chart time. But i agree, youre doing some of that subconsciously.