T Trade on Feb 22, 2021 13:45 from tjmiller2001: Tradervue User Stock Trades.

I like shorting T. It's like AMC where it has up moves every once in a while but at its core, it's a weak stock that fades. The key is getting in short close to the tops. That's what I did today and I'm proud of myself for sizing up.

T had a high at 11:30, then pulled back and made another high at 1:30. I got in short with the thesis that it will fade for the next few days.

My entry was strong because I waited for confirmation but still fought for price, entering .10c below the recent high.

I got short at 29.45 with a SL at a new high of 29.60, and a TP level of 28.55. That's a 6:1 RR and I had faith in my thesis so I sized up. This wasn't easy to do but it felt right once I saw price immediately move in my direction.

++ On 2/23 Breaking News came out that T was looking to sell a stake in DirectTV for a loss. This initially moved price up but not much. It was sold for a giant loss from when that business unit was purchased 6 years ago so I wasn't confident the market reaction would be positive.

I got stopped out when I felt I saw a change in character as 29.50 broke. However, the 29.50 level failed to hold on the 1m, and was rejected when that level was retested. I should've been willing to reenter because my thesis was still valid.

Great short opportunity I had planned out for it to fade into the close. I was stingy with my entry, trying to pay 1.57 to get back in a put contract going for 1.59. This refusal to enter made me miss the whole move, would've been a nice gain. Frustrated that I predicted the move right but wasn't able to make money off it because I wouldn't pay up a little more and enter.

++ On 2-25 I sold my T contract on evidence of support at a key level and higher lows. The RR just wasn't there anymore so I got out completely.

This is a trade I should've had 2 contracts on all the way down. Instead I had 1 because I got out and didn't reenter when my thesis was proven to be back in play. Left some serious money on the table. More importantly, my decision making process on reentries needs to be fixed going forward so I can make more money when I'm trading with larger size in the future.

Lesson Learned: Be willing to reenter after you're stopped out if your thesis proves to be right. Also, pay a little extra to get into a trade so you don't miss the whole move. Don't chase, but it's foolish to think price will always come right back to you.