Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-Aug 14 2020: new COO and director
Technical Analysis
-SPY pattern: Runner
-Intraday pattern: Parabolic Fade
-Other notes: N/a
Strategy / Confluence / Sizing Guide / Risk
Strategy: Parabolic Fade
Confluence: N/a
Strike Zone: 2.45 - 2.55
Sizing (lots + emergency): 900
Risk (stop / Rs): 2.58
Review / Lessons Learned
Made the mistake of having a tight stop while chat guy was trading the ticker, stop should have been above HOD. Took big cut on first try then spent all day holding to make it back. Covered some near 2 low mid-day and added it back near EOD in order to catch a further fade but too many bids were present so I had to cut the whole position. Overall this trade is a scratch, mainly due to poor trade management, could have been a good trade had I placed my stop above HOD.
Lessons Learned: Parabolic fade stop should be new HOD! (unless backside initiation was extremely heavy)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-08-26 10:04:53 | WORX | sell | $2.410 | short |
| 2020-08-26 10:05:21 | WORX | sell | $2.460 | short |
| 2020-08-26 10:08:34 | WORX | sell | $2.560 | short |
| 2020-08-26 10:09:05 | WORX | buy | $2.577 | 0 |
| 2020-08-26 10:37:33 | WORX | sell | $2.250 | short |
| 2020-08-26 11:03:07 | WORX | buy | $2.200 | short |
| 2020-08-26 11:47:21 | WORX | buy | $2.030 | short |
| 2020-08-26 14:35:50 | WORX | sell | $2.050 | short |
| 2020-08-26 14:37:56 | WORX | sell | $2.090 | short |
| 2020-08-26 15:32:41 | WORX | buy | $2.070 | short |
| 2020-08-26 15:34:17 | WORX | buy | $2.120 | 0 |
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