BABA Trade on Oct 27, 2015 09:32 from Holden: Tradervue User Stock Trades.

A+ Play Today:
Morning- Continuation - Consolidation below ONL/Key S w Confirmation and change of character - BABA
Name in play and was my focus point coming into the session with the gap up following earnings right up into key resistance level on a daily chart. Had prepared for plays in either direction despite looking for a short (this is a best practice of mine) Also wrote out my rules for each (another best practice) allowing me to be well prepared for a break higher above R or a break lower below S that confirms.
Research and information collection (what I was seeing and where I sourced the idea):
Name in play. Read core earnings info and identify if there is any key notes to put this name in play.
Creativity and the generation of trading idea (my thought process for what could develop):
Start with daily and then work my way down identifying key levels on daily, 60 min, 15 min and pre-market action.
Noticed the defined pre-market trend lower failure at key R level of 85 (daily R) and pre-market support at 82.
Entry execution and position management (Why did I take the play, why did I size as I did and what was my plan?):
when action rallied up and failed to clear 83 I entered short ½ tier which was basically just a mistake trade as I did not have a good plan for the play and wanted to let the action open up before I got involved. No reason to get involved in the play until it gets either above key resistance and confirms or below key support and confirms both of which are much more likely to occur after the price discovery on the open.

Better and REAL entry for this play occurred after the hard drop out below pre-market support at 82 and rally back up to that level that failed allwoing me to control risk against 82 looking for a move lower, this is where I got big in the play up to 2 tiers looking for a trend move to potentially develop. this sizing is important to understand in my planning so I am able to come in and quickly get comfortable with the action before pushing to get big in the play.
Risk management and exit execution (My plan for the play and my reasons2sell):
Risk management- How do I control my risk in this situation effectively.
Best risk management is by being patient and precise in order to get ideal trade location against a key level liek 82. I can place my risk just above and allow the action to work for me.
Exit Execution - allowed myself to be uncomfortable with the price action despite the fact it was acting appropriately and covered a small piece (⅕) into 81 Again without a reason to sell and not making the action beat me, Then tiered out on the way down.
Self Management (Specifically self talk and did I support myself in a way that allowed me to execute to plan):
I did okay but found reasons to exit instead of finding reasons to stay involved and push, It was a nice play but simply by executing to plan I could have been much more efficient with my executions and taken much more out of the play.