YALA Trade on Mar 15, 2021 09:12 from thebadtrader: Tradervue User Stock Trades.

15/03/2021 report
Market Conditions
Previous day Market Condition (Uptrend, Downtrend, Under Pressure, Rangebound):
- QQQ Rangebound. Testing 20ma & 50ma
- DJI Uptrend. 5th day into a breakout. ATH
- SPX Uptrend. 5th day into a breakout. Testing ATH
- RUT Uptrend. 4th day into a breakout. ATH

First 30min Market Condition (Uptrend, Downtrend, Under Pressure, Rangebound):
- QQQ Rangebound. Testing 20ma & 50ma
- DJI Uptrend. 5th day into brekout. Weak
- SPX Uptrend. 5th day into brekout. Weak
- RUT Uptrend. 4th day into brekout. Weak

During market open
- Because the market looked weak, I focused on EP with strong results, thinking that it would 'safer' with more fundamental backing
- Likely a hangover from value investing past. But didn't carry over the fact that high results can still be a disappointment when even higher expectations are priced in. In this case, YALA beat (134.9 vs 126.3) but still sold off.
- I Bought a half parcel of YALA pre-market and a half after open.
- YALA had triple-digit growth. The pre-market was strong but opened weakly and continued to be weak all day.

Breakouts that I passed on:
- SOS had negative news (pump and dump scheme accusation).
- Tech sector was weak (QQQ on opening), which made me hesitant.
- By the time I came around to the strength of the stock, the max loss on the position was greater than 5%.
- I didn't chase, which is good discipline.
BSQR also showed up on my screen.
- Also, exceeded max loss, so didn't chase.
- Good discipline.

Mistakes/Learnings
- Bought half parcel of YALA in pre-market. DO NOT BUY ANYTHING IN PRE MARKET. Volume is abnormal and not indicative of an open market. Patience.
- Bought the second parcel after the opening. YALA was weak with a large red candle, but I hypothesized that the selling pressure would ease through the session. Then I bought in as a few green candles built up. Should have played what was in front of me instead of trying to guess what would happen. The first red candle nullifies any future green ones. BY STRONG BREAKOUTS ONLY. 
Did well to avoid weakness when I didn't buy expel on the 10th.
- Let the indexes lead my decision-making rather than letting the setup determine my decisions. Not sure if this means that next time QQQ is range-bound, I should be more aggressive. Since I don't know, DON'T buy if unsure about the market.
- My watchlist was too long. Need to be much more selective about my setups. Too many options made me a deer in headlights. THIN DOWN WATCHLIST TO AROUND 15 NAMES
- I was uncomfortable buying these other new stocks because I wasn't familiar with them. Buying the travel stocks (Airlines and cruise lines) was easier. Had a subconscious thought that I'm already late to the reopening theme which is dumb. Should ride on the strength/momentum. JUST TRADE THE SETUPS.
- I let my value investing mindset get in the way. Didn't want to buy POS companies. Need to separate the two investing styles.

Summary
- Continue to be cautious when the market is rangebound
- Do not buy pre-market
- Buy only the strongest breakouts, do not buy weak ones.
- Thin down watchlist to best 15 pre-market. Better to catch 1 than to watch 30 and miss them all.
- Only trade the setup as it's presented to you. Do not guess the future. Do not extrapolate the past