JNCE Trade on Sep 1, 2020 10:07 from CapitalMastery: Tradervue User Stock Trades.

Summary

Was watching this one since it opened PM, and nearly fainted with FOMO, but didn't see a valid entry signal until later during the market open. Once I saw the failed breakout to the upside (1min cup down), I triggered an entry to full size, and put covers out at at $6.50s, but moved up to catch the subsequent flush, with the idea of re-adding on pops. We didn't get any pops until later in the day, which I did hit, but as a separate trade.

Why Was I in This Trade?

Green 20min low anticipation + 1min cup entry signal

Did Right

Waited patiently for my "known" entry signal, instead of FOMOing into the trade. Although it likely would have worked on this trade, overall taking trading without a valid entry bites me in the ass.

Did Wrong

Only concern on this trade is that if I had let it play out, I would have minimized the trade by not taking any off until the close, where the 20min20ma caught up. This is a reminder of why it's important to cover some into flushes, with the idea of adding back on pops. This at least let's you add padding to the trade, should it not work out, or if the 20min20ma target catches up later for a less good price.

Improvements

Be on the lookout for pre-market entry signals. If I see a 1min or 5min cup early PM, right after the pop has been formed, consider putting on a starter position with an appropriate stop. I can then look to cover up before the open, and re-hit after the pop, or lack thereof.

Next Trade

Still has meat to 60min20ma; will be looking for an entry on open; ideally after a failed long bias attempt/push.