BIDU Trade on Oct 30, 2015 09:33 from Holden: Tradervue User Stock Trades.

A+ Play Today:
Mid-Day in Play- Continued Strength with consolidation above Key R - BIDU
I have this play well mapped out for a short and executed it last week or maybe earlier this week (ill need to check) and have the idea developed for a continued strength move intraday in play because of the price action in NFLX earlier in the year following earnings. Even did a full video review on the play: LINK TO ORIGINAL REVIEW and had originally written it out as a morning play but it is really more specific than that being a mid-day in play set up for a name with a fresh catalyst where I look for a longer consolidation before getting involved.
Overall this is just a version of the Spencer Money Trade
Research and information collection (what I was seeing and where I sourced the idea):
Names with fresh catalysts that are consolidating above key R in the upper ⅓ of the days range
Creativity and the generation of trading idea (my thought process for what could develop):
With a BIDU beat and consolidation above 180 good opportunity to look for more if there is a change of character and break up.
Entry execution and position management (Why did I take the play, why did I size as I did and what was my plan?):
Looked at name but action was choppy so left desk and missed move- Need to see clean consolidation, break up and consolidation above R level allows me to get long against that consolidation
Trail stop up approaching this play in stages, being open to what may set up as the action develops
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.
I want to trail stop up through the play, anticipating consolidations above R where I can get bigger or stay long but also know that when the action really begins to extend I want to be aggressively moving my stop up higher quickly.
Exit Execution -
For the final piece, I need to make the name beat me and truly take me out of the position so I want to trail stop up through the move. Easiest way for me to do this is to tier out on the moves higher and commit to the play fully
Self Management (Specifically self talk and did I support myself in a way that allowed me to execute to plan):
This play requires a full commitment to my plan because I will absolutely need to have the patience and discipline to allow the action to develop first, stay with the action through the early part which often can be the toughest part of the play and not allow myself to get overly excited about taking profits because the objective of this play is really to make it beat me, not take myself out of the play and to KNOW that the best part of the play, where I really get paid, is at the end of the move.