NIO Trade on Oct 25, 2022 09:57 from SchubyTrades: Tradervue User Stock Trades.

SETUP/BIG PICTURE

BOUNCE DAY AFTER YESTERDAY,S CRASH, GOAL WAS TO TAKE ADVANTAGE OF BOUNCE LONG CHASERS.

ENTRY/SIZING
FIRST ENTRY AROUND 10.2 ENTERED BECAUSE I KNEW THAT A LOT OF PEOPLE WOULD CHASE LONG TARGETING RECENT KL. SOMETIMES IT JUST DOESNT REACH THOSE KEY LEVELS AND FLUSH RIGHT BACK. WANTING TO TAKE ADVANTAGE OF THIS. COVERED 1/2 AT 10 AREA WHICH WAS LIKELY TO HAVE GOOD SUPPORT AND OTHER HALF GOT STOPPED OUT BECAUSE OF TIGHT RISK. B/E.

SECOND ENTRY AFTER A BETTER BLOW OFF RIGHT TO A GOOD KEY LEVEL AND A NICE STUFF MOVE SO I DECIDED ENTER AGAIN.

EXIT
EXIT MOST OF POSITION AT 10 LEVEL AGAIN BECAUSE AREA ADD A LOT OF BID. COVERED THE REST WHEN FLUSHED UNDER RIGHT UNDER. I SAW A LOT OF SUPPORT AT THIS BIG PSYCHOLOGICAL LEVEL AND HAD REALLY LOW CONFIDENCE THAT THE STOCK WOULD FADE. AT THE TIME IM WRITING THIS, IT APPEARS TO BE A GOOD DECISION.

RISK MANAGEMENT
OK, ALWAYS IN CONTROL

PROCESS EXECUTION
NOT TOO BAD, HARD TO BELIEVE THIS STOCK WOULD FADE WHEN LEVELS ARE SO DEFENDED.(10)
HAPPY WITH THE TRADE DESPITE THE FACT THAT IS A SMALL WINNER.

WHAT I DID RIGHT. REENTER AFTER FIRST B/E TRADE, AND EXIT WHEN I SAW HOW STOCK REACTED AT 10 LEVEL, PURE FOCUS ON PRICE ACTION, NO PL

WHAT I CAN IMPROVE: - FIRST TRADE WAS CLEARLY A "i trade what i want to see" trade. its not the way it works. PAYTIENCE AND LET CHART TELL YOU WHEN TO ENTER. NO MATTER WHAT HAPPENS.

TAGS : EDGE/SETUP/ENTRY/SIZING/EXIT/RISK MANAGEMENT/RIGHT-WRONG/PROCESS RESPECT/GRADE