LMT Trade on Nov 14, 2022 11:20 from quanphan135: Tradervue User Stock Trades.

The set-up: Break Dow/ Continuing sell off - Relative Weakness

After taking first trade loss at NKE. Take a look at another stock in play off mine. LMT

LMT had a morning sell off. Was trying to build some strength. But failed to hold opening price. Then LMT was flushing down with the Market (Relative Weakness).

After broke my key level again (Now, this could be entry better, but because I was too focus only at NKE, so I missed the entry). I gong SHORT at 463.50. I risking around 50c to target downside $455. (around > 10 points)

I scale out one at 460.88

I scale the rest at 460.19 (At one point, its was flushing down to 459.37, but i did not sell because I want to see how far its could going down more

SPY at this time was disconnect with LMT. While SPY is trying to break key level 398.50 (rejected many time). LMT was only keep flushing down. Good trade.

What I did Right:

1)Despite making a loss of first trade NKE and did not respect SL. I was calm down enough to make this 2nd trade. By seeing weakness of my stock in play.

2)Entries at the key level that I watch, if its broke, I will trade downside according to the plan

3) I scaling out. 2.30R - 19% ROI

Things that I could improve is: I need to focus more which stock in play is moving and trade according with the plan.

NKE was not moving at all. And LMT could be a great candidate early morning, there is almost 4 points entries better.

Trade grade: B