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Nov 9, 2018 09:30


Scaling In Earnings Double Down Bad Exit Bad Entry

Not as lucky in $TTD

Together with $YELP I anticipated a crack of lows in $TTD after a relief move. 

For $TTD my resistance levels were 114 116 and 123 area. Support 105 and below 100s. 

I knew out of watching premarket action that $TTD can really move and I chose my size careful. 

My main mistake was not to wait a clear reject an placing orders during premarket. $TTD started to make a relief move in the last minute before the Open rushing higher and I was filled right at the open at 114 and 116. 

Double Fill at 114

For some reason and I can't tell why and how by watching my screencast, I got filled twice at 114. That really messed up my average. 

I wasn't even aware of the desaster I would face at that time as $TTD ran up to 123 and I added along the way still feeling safe. Not even when I had the chance to take off the trade break-even. Still being (over-) confident $TTD would make the crack of VWAP and sell off to below 100.

Obviously that didn't happen. Foolish as I was I let the trade play around with too much of size and really expecting it to sell off. 

But $TTD was strong. I mean, really strong. I ignored the that fact! Bad trading, Markus!

Big Problem: Average Price at VWAP

To make it worse and that was about the time I realised i might have a problem, my average price was AT VWAP and not in the top half between highest price and VWAP! 

Still, I did not take my loss when I had the chance. 

I got billed for it and well deserved my loss.

It is a painful experience, but now, after more than a year of experience and aware of the heuristics I am prone to, I am really happy to be able to note and be aware of my mistake. To quickly detect my mistake. Acknowledge what I did wrong and make changes. 

Will see how that works out in the new week.

Nontheless my confidence was pretty much gone on Friday. To make up for it I had to take another trade in a Bottom Bounce for $NFLX. Not that it was much of a winner, but the impact on my confidence was enorm. 

Execution detail:

Date/time Symbol Side Price Position
2018-11-09 09:30:00 TTD sell $113.990 short
2018-11-09 09:30:00 TTD sell $116.376 short
2018-11-09 09:30:00 TTD sell $113.990 short
2018-11-09 09:34:00 TTD sell $121.900 short
2018-11-09 09:49:00 TTD buy $117.210 short
2018-11-09 09:50:00 TTD buy $117.528 short
2018-11-09 10:17:00 TTD sell $122.654 short
2018-11-09 10:41:00 TTD sell $127.542 short
2018-11-09 10:53:00 TTD buy $125.958 short
2018-11-09 11:08:00 TTD buy $124.970 short
2018-11-09 11:10:00 TTD buy $123.996 short
2018-11-09 11:28:00 TTD sell $127.708 short
2018-11-09 11:33:00 TTD sell $129.242 short
2018-11-09 11:37:00 TTD buy $129.020 short
2018-11-09 11:38:00 TTD buy $127.840 short
2018-11-09 11:41:00 TTD buy $127.984 short
2018-11-09 11:43:00 TTD buy $127.540 short
2018-11-09 11:46:00 TTD buy $128.280 0

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