NNOX Trade on Sep 1, 2020 14:24 from CapitalMastery: Tradervue User Stock Trades.

Summary

Was admittingly nervous about taking this trade as it didn't seem to be on anyone's radar. However, it appeared to be match the typical Intraday Ranger/Runner criteria/context, and so I played it as such. Was honestly expecting the trade to fail, but wanted to take the opportunity to try out an idea only I saw. As soon as I saw a 5min cup + 30min bab, where the 13:55 pop candle got totally stuffed/sold into, I put on a position, and let it work. Fortunately, it worked out perfectly and went straight to the expected 20min20ma target. While this was great to see, I unfortunately piked out, and covered before my expected target was reached cause I honestly just didn't have conviction in the trade idea since I didn't see anyone else talking about it. Another reminder of the deep backtesting work I need to do, to help build up my conviction.

Why Was I in This Trade?

Stock shot up quite a bit today in a short period of time, and got over extended from it's 20min20ma, so I waited for a 5min cup + 30min bab, and put on a trade basically risking HOD.

Did Right

Saw my edge and took advantage of it, even if it wasn't a hot pick of the day.

Did Wrong

Didn't let my exit targets play out, and left another $1/share on the table.

Improvements

Do backtesting on stocks with 200%+ intraday range, and gain some conviction around what can be expected should I take these kind of trades.

Next Trade

NNOX managed to get back to highs in AH, and so should have another short trade opportunity if we can gap up and extend further tomorrow.