SRNE Trade on Aug 17, 2020 10:00 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: Failed Follow Through vs HOD
*Entry: 11.40s
*Risk: 1:3

Catalyst and News:

N/A

Fundamentals:

Same as last time

Technicals:

Large gap down from last week, signs of weakness from P/M. Continued weakness into open, SSR.

Summation:

Market open flush following the pre market dribble. Bounced and squeezed back up on covers around 9:45. Entered at the 10.90s expecting it to fail again vs the open, but it continued to grind and squeeze up past Friday's lows and nearly into Thursday's resistance levels. Added cautiously a few times at the 11.40s (foolishly, no new lows and testing resistance at the 11.50s).

Triggered broker stop at 11.60s on the squeeze out.

Takeaways:

This is the same mistake I just made on Friday. I legitimately do not understand why I entered this position. I even told myself "no, it's just going to keep going up", and next thing I know, I'm short.

Are you here to make money or press buttons? Follow your plan, not somebody else's entry. Read the chart, read the tape, and know yourself. Never forget your checklist, your edge, and that plans can and will go awry if things don't work out.

Even if it didn't work and stops were in logical places (versus previous LOD, open, etc), you know the history and your history with this ticker. You don't need to make money back the same way you lost it.