GSX Trade on Aug 12, 2020 10:56 from WuManChu: Tradervue User Stock Trades.

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WuManChu

 

Idea, Entry, and Risk:

*Idea: FF vs HODs and 100
*Entry: 98.125 (aimed for 99s)
*Risk: 1:3

Catalyst and News:

Carryover from multiple fraud allegations on GSX.

Fundamentals:

It's GSX

Technicals:

Down substantially from squeezed highs last week, huge morning washouts from the 99s down to the 90s, squeezes back up and with fails vs the 99 level.

Summation:

Rushed my entry, did the same stupid thing of taking an entry because somebody else did and convinced myself it was a good idea. Entered on fail vs 99, sized up on pop but due to slippage got a weaker entry and averaged around the 28.40s.

Had a chance to leave around the fail into the support at 97 where I expected it to fail again, but it didn't. Got squeezed out and broker stop hit at the squeeze at 101.

Takeaways:

Always always always ask yourself what your edge is. You knew it was gone because it was consolidating.
Never forget that if a stock price is a large cap, all you have to do is divide the price by ten to get a sense of scale of comparable moves. A $0.10 move on a $10 stock is a $1.00 move on a $100 stock.
Stop ignoring trend changes. It's not doing what it's supposed to? Get out.


Execution detail:

Date/time Symbol Side Price Position
2020-08-12 10:56:09 GSX sell $98.180 short
2020-08-12 11:29:24 GSX sell $98.680 short
2020-08-12 11:58:01 GSX buy $100.650 0


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