UA Trade on Oct 22, 2015 11:02 from Holden: Tradervue User Stock Trades.

Dev play: -
Mid- Day In Play - break down Consolidation below ONL/Key S w Confirmation and change of character- UA
Again another name that I had planned for a potential long play in but by remaining flexible and trading the action in front of me was able to recognize a short set up. Also despite missing a large part of the move, I was able to be patient and wait for a good r/r play that made sense to me and execute. Need to write my rules down every time because I looked at them but did not write them and ended up finding a reason2sell the final piece outside of what my rules for this trade called for.
Research and information collection (what I was seeing and where I sourced the idea)
Reported earnings and despite solid earnings was sold off in pre-market showing this name may be in play today.
Creativity and the generation of trading idea (my thought process for what could develop)
Focused on MCD early in session but came back to UA which had been consolidating in the lower ⅓ of the range for 60 min+, was holding below vwap, below pre-market support and was in play trading 4+rvol
Entry execution and position management (Why did I take the play, why did I size as I did and what was my plan?)
Was looking for the action to break down below support level from consolidation at 93.75 and confirm below with a rally back up to that level which fails allowing me to enter short against a swing high and control risk well. Entered short into the break down and had to do more risk management than I prefer by no entering in the way I had planned.
entered short 2 tiers risking ¼ open P/L from day. When price action broke and confirmed lower, I began to move my stop lower
Risk management and exit execution (My plan for the play and my reasons2sell)
Risk management- Continued to move stop lower through the move to manage risk
Exit Execution - Exit first tier at DTA and second tier when action broke down into 92 potential support level. However, this was not a reason to sell in this play because the action cleared below R level on the move which means I should have simply been moving my stop down and allowing the action to work for me until I was stopped out.
Self Management (Specifically self talk and did I support myself in a way that allowed me to execute to plan)
Rushed into the play a little bit and did not commit all the way to the final piece of the play but overall, nice self talk when in the play and good use of risk control by simply continuing to move my stop down through the process.
Next steps:
These extensions lower (mid-day in play can sometimes lead to an intraday oversold bounce play so I want to be aware of what could develop here and keep a focus on this name as it certainly may continue to remain in play through the session.