JMIA Trade on Aug 3, 2020 09:34 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: Short vs VWAP after morning selloff due to P/M trend, and
*Entry: after pullback on the morning move,
*Risk: 1:3

Catalyst and News:

No substantial news today.

Fundamentals:

N/A

Technicals:

Chart in channel of 15.90s and 16.70s all morning, overextended from last week. Tested top twice into morning fail and breakdown. Got in as I saw a pullback and believed it would continue as it had already broken down through the bottom of the previous channel, but this was impatient and I overcompensated for the previous issues of late entries.

Summation:

Got in at what felt like a decent entry, saw the turnaround and momentum shift, and immediately hit to cover.
Platform crashed.
Spent a good amount of the morning panicking, scrambling to find the support number, and watching the squeeze shoot up more than I had anticipated. By the time I got the number entered in my phone, the squeeze had pulled back and I was able to cover at a reasonable place.
So of course, this is where I covered half and watched it begin to consolidate again. Took off slightly higher portions each time and then got fully out before it squeezed back up to the 16s and beyond.

Takeaways:

Was having platform issues in the morning during P/M, told myself to be cautious then went and did this. No more recklessness.

I think the trade itself was actually not the worst, but should have put stops in place immediately to offset the platform issue.

Nearly had a heart attack while this was happening so I think the biggest takeaway is ensuring that I don't rush into trades feeling that I have to make a move, trying to offset how I haven't had conviction in placing entries to begin with. Don't go too fast, to compensate for being too late beforehand.

There are also many better moves that I keep missing. It's time to shift focus on what kind of stocks I'm looking at, to an extent, but on the overall picture. The way I am approaching this process is not working, and self-preservation comes first.