WKHS Trade on Oct 21, 2020 10:08 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: FF vs HOD
*Entry: After VWAP test into 945-10am shove post selloff
*Risk: 1:3 (vs 20.60s/HOD key)

Catalyst and News:

N/A

Fundamentals:

Workhorse again. Still falling post USPS deal kick and financing

Technicals:

Weak P/M despite push to yesterday's VWAP, heaviness in the open despite the push. Waited for failure at 20.60s key

Summation:

Started in with 25s at the heaviness around the 20.25s. With the failure vs the 20.60s and persistent heaviness, it was going to breakdown at some point. Added again at the 20.10s on a sub-pop, working on sizing up now as my pre-set 25s limit isn't doing enough for me as my risk was completely out of wack. Kept risk small and aimed for breakdown into 18s.

1st 10s cover: Break down to the 19.50s where it bounced off the morning action. Wanted to take some off here in case of a bounce.

2nd 10s cover: near previous resistance level. Felt it important.

3rd 10s cover: missed the flush into the 18.80s. Expected it to break further and kept waiting. Was lucky on this pull back to take some off.

4th 10s cover: Pretty certain it was going to break down again later in the day, but not great discipline here. Covered some over VWAP. Still had 10 left so waited on the aforementioned.

5th 10s cover: EOD last selloffs. Pretty much caught this bottom.

Takeaways:

-When you have conviction, you have it. A little nervous going back to size again but that's okay. I feel I won't grow if I don't push along the way.

-Factors seem to be working better this time. Sharper risk management. Multiple timeframe checks. Better understanding of tape. Slowly but surely I will be focusing on this.

-Left some on the table. I'm mostly okay with that. Wanted to make sure I was taking some, not getting greedy. I don't want to return to that.

-Getting up a little later, making sure I'm at least at a fairly adequate level of sleep. That makes a difference.

-Still need to shape up my exits. Figured it would break to the 18s but expected perhaps a bit lower. Blew through a few levels I wanted but not the one I expected afterwards. Execution needs more grinding.