UBER Trade on Jul 11, 2022 11:10 from HelloMrMotto: Tradervue User Stock Trades.

Intraday

SPY sells off the previous day after hours. Premarket levels SPY had a sideways consolidation. After the opening bell SPY sold off right at opening.

Why did you take the trade?

After the early morning sell-off, I let the chart develop a little more. Right at the sell off the stock came back and then got rejected. I waited to see if it broke its support (baby support, the place near the resistance) after the rejection and it did. I read the tape and it could barely hold the .50 mark so that's where I made my entry.

How did the trade go?

The trade went well. All plans were in place and I was ready to take a ten-cent loss if the trade went against me. I read the tape and the stock couldn't uphold the .50 mark until later during the day. This is where I was about to take the loss. But I was going to stretch out the .10 cent loss just a little to see if it could hold above it but it didn't so my trade was still live.

The internet cut off at my house due to the construction worker cutting the line (again) so I had to rush to a public place that had internet. The coffee shop in Stanly downtown was closed so I went to the Jack Beagles in Mount Holly and watched the markets for the rest of the day at the bar.

The stock slowly daded away and I bought right back a few seconds before the closing bell. I didn't want to risk holding until the next day because of where my entry was and also there was no telling what could have been during the morning Gap up or Gap down.

But looking a few days at the daily chart I would have made it out nicely but it would have been stressful because everything looks good after the charts develop.

What can you do better in the future?

• Follow guts for better entry with the morning sell-off. I saw the sell-off and wanted to take it but I had to be cautious because I only had one day trade left.

What did you do great?

• Collect profits, let the chart develop, and didn't get greedy and hold stock to cash out the next day

• Stuck to the plan

• 10-cent loss if that pattern was going to go near there

Grade: A

Why that grade?

You stuck to your plans, took profits, and weren't emotional or greedy.