Shared by
dpaleo
Tags:
day 1 trampoline so great patience waiting only for extension on both 5min and 1min. Great execution
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2020-10-29 11:56:27 | MRNA | -100 | $74.120 | -100 |
| 2020-10-29 11:57:00 | MRNA | -20 | $74.290 | -120 |
| 2020-10-29 11:57:00 | MRNA | -80 | $74.290 | -200 |
| 2020-10-29 12:00:05 | MRNA | -25 | $73.720 | -225 |
| 2020-10-29 12:00:05 | MRNA | -100 | $73.720 | -325 |
| 2020-10-29 12:00:05 | MRNA | -35 | $73.720 | -360 |
| 2020-10-29 12:00:05 | MRNA | -40 | $73.720 | -400 |
| 2020-10-29 12:00:30 | MRNA | -100 | $73.320 | -500 |
| 2020-10-29 12:00:39 | MRNA | -100 | $73.270 | -600 |
| 2020-10-29 12:02:01 | MRNA | 100 | $73.040 | -500 |
| 2020-10-29 12:06:40 | MRNA | 100 | $72.760 | -400 |
| 2020-10-29 12:08:35 | MRNA | 90 | $72.660 | -310 |
| 2020-10-29 12:08:35 | MRNA | 10 | $72.660 | -300 |
| 2020-10-29 12:09:25 | MRNA | 16 | $72.420 | -284 |
| 2020-10-29 12:09:25 | MRNA | 84 | $72.420 | -200 |
| 2020-10-29 12:14:21 | MRNA | 69 | $72.310 | -131 |
| 2020-10-29 12:14:21 | MRNA | 31 | $72.310 | -100 |
| 2020-10-29 12:17:17 | MRNA | 100 | $72.120 | 0 |
Comments
dpaleo
Thanks Jama. One of my few good ones recently.
Very easy to get run over mean reverting esp if you're stubborn which i tend to be when not trading well.
Main thing i m looking for is extension from the 6ema on the 5min AND 1min charts. I want to avoid mean reverting when its grinding along the EMAs. An ideal setup also has a volume build and the candles are getting longer.
With this MRNA setup the 11:50 candle was longer than the 11:45 candle and the 11:55 longer than 11:50 when it was in mid $74s. The 11:55 candle also had a big spike in volume vs prev candles which often indicates a climax.
SNOW had a decent fade setup on 10/27. MRNA off the open on 10/13 had an A+ setup - three 5 min candles with huge extension on both 5min and 1min charts and a perfect 1min volume climax followed by 1min reversal candle.
lajama4545
Thanks for the response. That is similar to what I've been looking for on these plays as well. I look for extensions away from the 9 EMA in multiple timeframes. I try to put that together with key levels and volume exhaustion. I'm gonna add those setups from SNOW and MRNA on those dates you pointed out to my book of charts to study.
I'm still a newbie to trading (been trading about 18 months), became a consistently profitable trader since the start of this year, but I hit a rough patch in October. I wanted to say thanks for all the trades you share and how open you are about your trading it definitely helps me learn and get better.
Thanks for the kind words Lajama. Stick with it. We all hit rough patches. I've been one since August. Protecting mental capital is as important as protecting financial capital. When in rough patch its best to size down significantly until confidence comes back.
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Hey man how do you determine if something is over extended? What variables are you looking at ATR, distance from VWAP, capitulation patterns, key support/resistance levels, experience? I've been trying to incorporate mean reversion plays into my playbook and got ran over a few times lol. Every time I think something is overextended I end up getting in too early and mess it up. Any insights to how you approach this would be greatly appreciated. Nice trade BTW.