RUM Trade on Mar 31, 2023 09:30 from kgauvin25: Tradervue User Stock Trades.

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kgauvin25

 

Sleep: 6/10
- Ate last meal a little later than wanted but still got to bed at good time
- Fell asleep rel quickly, doing military technique def helps
- Goal is to wake up feeling refreshed

Market Summary:
- So we are rel flat overnight with still decent extensions (not so extended to short, but tough to buy)
- Do not have good R/R on new longs but
- IWM needs to clear 178
- PCE has come in light giving Fed some breathing room ---> Initiatil Pop and pullback, surprised not enough
1. PCE Results
- M/M: 0.3% vs 0.4%
- Y/Y: 4.6% vs 4.7%
2. Personal Income
- M/M: 0.3% vs 0.2%
- Y/Y:
- Watch High and Lows of PCE Number, STT in white which helps a little

$RUM - Rumble - Software - Tech
- Earnings 6/10 - EPS Miss, Rev Beat, No guiadance
- MC 2.65B, ATR 0.5, AV 1m, SI 13%

  • Plan: Breakaway Gap vs $10 or through 10.50 (less ideal) (2ATR Ext)

  • What happened

    • So first off I think is a good thing for me
    • Like Pat said yesterday in the meeting very often with breakaway Gaps they can fail on the initial break, but then real trade can still be valid
    • Because of this have to be light and will to try again
    • This was my plan
    • Because I hesitated slightly I got about 8 cents worst price
    • I remember saying myself yeah I am fine with risking 20 cents and then because I was late I now was risking 26 cents
    • Once I was in immediatley pulledback and was not wanted to see and then got bought up
    • Volume was coming in big which made me feel good and almost stopped out a few times
    • tested $10 like 4 times could never get going
    • I remember thinking had I just bought there I could have cash flowed 25 cents at least once if not a few more times
    • I ended up getting stopped and due to lil spreads took bigger loss than expected
    • Another day where one of my biggest losses on the month came from trading before 8 EMA catchup
    • This def hurt but I stayed calm

- Rewatch:
- I just got in too late
- Rule should have been if less than 10 cents risk I can get in 400 shares if not I cannot
- Real trade is if pulls in
- Just late on this cuz did not have plan for how much to take
image


Execution detail:

Date/time Symbol Side Price Position
2023-03-31 09:30:11 RUM buy $10.240 long
2023-03-31 09:30:11 RUM buy $10.250 long
2023-03-31 09:30:11 RUM buy $10.240 long
2023-03-31 09:30:11 RUM buy $10.249 long
2023-03-31 09:30:11 RUM buy $10.249 long
2023-03-31 09:34:25 RUM sell $9.930 long
2023-03-31 09:34:25 RUM sell $9.940 long
2023-03-31 09:34:25 RUM sell $9.930 long
2023-03-31 09:34:25 RUM sell $9.960 long
2023-03-31 09:34:25 RUM sell $9.920 0


Comments

2023-04-12 16:42:13
 

Looks pretty extended into the gap up, better probability fading it.

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