KCAC Trade on Sep 4, 2020 10:37 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: FF vs 25.50 HOD, 24s/24.50s key level
*Entry: 23.80 (10), 23.90 (40)
*Risk: 1:3 (25 vs 21)

Catalyst and News:

Overextension on "IPO" run-up, shell company reverse merger announcement from yesterday

Fundamentals:

N/A: Shell company

Technicals:

Frequent buy ups, drastic flushes, and hugs vs key levels (22, 24, 21.30s, 20.50s) suggested a fail after the initial morning run up to 25.50.

Summation:

Entered at the first signs of heaviness at the 24 level run back up after the 90.40s flush back to the 22s. Took extremely small size (10, 1/5 intended position). Saw similar signs of heaviness and made the mistake of going fully sized here. Watched the stock go back up further to test the 24.50s and 25. Sized down twice, to 25 and to 10, held in case I was still right.

Watched the major flushes occur and didn't have reason to take off as the momentum was still downwards. Watched it rebound a bit to test and fail again against the 20.50s after hitt and boucing off the 19.40s, expecting it to fail further after some consolidation. Took off half of my remaining position when it failed again but only to the 19.60s. Held the remaining 5 shares for further breakdown.

This is the point where the trade could have finished better. I wasn't going to let a winner turn into a loser, but had the idea that it could still go back down further and didn't take off any more of my position until the EOD slight sell off. Still a win to break a month long cold streak, but could have exited better.

Always growing. Will focus on better sizing and continue to grind out better positioning. Entry was a bit impatient but worked out when size was reduced.

Takeaways:

-**Even when it works**, wait for confirmation. The 10 entry was fine. The 40 was a much more substantial risk and it would have been much more profitable to add to a winner than to fight a loser. Watch your size.

-Better in that size was taken off and you were paid along the way. Next time do more, and get out while you can still focus on the trade, or set the stops you initially told yourself to and forget about it. There's no excuse not to.

-The feeling of breaking the losing streak is nice. Now reset and focus on consistency. Next.