Shared by
HeroTrader
Tags:
MOB play of the day
I exercised great patients not getting in without a setup avoiding FOMO
also once in the play I managed to keep my cool and not panic sell early leaving to much profits on the table. instead I played the move candle by candle, not selling on small pullbacks, when the play was merely resting but rather waiting for the chart with the price action & volume to give me a reason to sell.
overall I'm very happy with the way I played this only had one available trade for the day and used it well for my small account. banking $2400.00 on only 1k shares
I have manage to more than double my small 4k account in only 9 trades to now at $8972.95
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2020-10-19 10:47:47 | KXIN | 1000 | $6.500 | 1000 |
| 2020-10-19 10:56:14 | KXIN | -200 | $8.900 | 800 |
| 2020-10-19 10:56:14 | KXIN | -200 | $8.900 | 600 |
| 2020-10-19 10:56:14 | KXIN | -400 | $8.900 | 200 |
| 2020-10-19 10:56:14 | KXIN | -200 | $8.900 | 0 |
Comments
Mance_Trader
HeroTrader
MOB =Most Of Buyers or majority of buyers referred to as the mob
the herd of traders all racing around to one play or the other, where all the volume is.
i was watching the candle movement one bar at a time. just because there is a slight pullback during a climb like that does mean there is going to be a wash out. it is necessary or "healthy" for a candle to pause or take a rest before continuing higher rather than one large parabolic move. the parabolic move at the end is almost the climatic move on the push.
What I was watching was a volume spike that was beginning to stall with the price movement. when a volume pike continues to grow but is showing very little or no price movement = TROUBLE!
SpecTraderJMC
Outstanding patience. You'll be above the PDT in no time. Good work!
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Excellent trade!
What made you decide to sell when you did? Great job capturing that move!! You mentioned price action and volume giving you a reason to sell. Was the Level 2 showing more sellers at a key price level?
Again, great job!