AEL Trade on Oct 19, 2020 09:58 from Leon64: Tradervue User Stock Trades.

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Shared by
Leon64

 

Target: $27.32 or lower | 1.95:1 R:r
Risk: $400 vs. $28.65

Setup: I was looking for some pennant on the 15m and it just went.

Pros:
1. I was prepared today.

Cons:
1. I got the initial target wrong when I was live.
2. There may have been an add opportunity around 10:50, but it was tricky.
2. I didn't stick around for the 30 minute flag when it recovered. Definitely worked.

Note: I need to keep pushing myself to trade even after getting a good chunk. There was more money in the market to be made.

Old Blog:

https://1337trading.blogspot.com/


Execution detail:

Date/time Symbol Side Price Position
2020-10-19 09:58:00 AEL sell $28.200 short
2020-10-19 10:36:00 AEL buy $26.975 short
2020-10-19 11:56:00 AEL buy $26.420 0


Comments

2020-10-20 04:55:26
 

Very nice trade Leon! You took almost whole down trend

2020-10-20 06:31:11
 

Thanks, TomasHerka!

I am still figuring out my exit and adding strategies. I only had 20% shares left when I "took almost the whole down trend." I'd like to have more :P

2020-10-20 06:38:52
 

It depends on your trading plan and what is your money management :) I personaly never try to catch home runs trades.
But I believe that you will figure it out soon when to add more :)

2020-10-20 08:43:59
 

Anyway what was your reason to close part of you share size at the price 27? What is your MM if I can ask? :)

2020-10-20 09:15:05
 

@ThomasHerka

The 27.32 target was based on the daily chart. It had a gap to fill, so I thought it was definitely possible that there is some support there. I then watched the LVL2/Tape for support and saw heavy volume around 27. Thought it was a good time to take some off after checking the 1m. If I left it running, I would have definitely taken some off between 10:43 and 10:50.

MM as in marked move or market maker?

I have heard of formulas for marked moves, but I forget what they are and why they work. Maybe you can remind me.

2020-10-20 10:31:47
 

ok rally nice trade indeed. MM I mean Money management :) If you like to manage trade based on structureof chart or if you manage trade 1:1 move. For example your risk is 10$ and your first target is when you reach +10$

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