GS Trade on Jan 16, 2019 09:59 from MarcoG: Tradervue User Stock Trades.

Consolidation Squeeze Play above pm high on ER beats!!

Requirements:

RVOL: Possibly >1.5
pmVOL: Possibly >50 K
avg Vol: > 1M
Vol @ Day : > 1 M
Gap: If possible but not strictly needed
Long Term Chart : Possible Pocket, trend already defined and strength.
Float: > 20 M
Short Float: Possibly >40%
Institutional Ownership : Possibly > 100%
History of Gap Follower: Neutral
History of former runner: Possibly YES
Major ETF movement and strength: Possibly Trending with strength

GS with earnings today was setting up for a nice long position.I have traded the first green 5min candle to make a new high. Stop was very tight below MA just 0.30$/share.
Once achieved first target the stock was quite strong so I have decided to trail stop my last piece respecting a high risk/profit ratio. If only I had more share I would have let it go and perhaps spot the 7$ move but I am pretty satisfied about the overall trade. With more shares and this will be my application soon I would have taken out a quarter every target so basically after the second take I was closing at 1$ profit and the last quarter free to break even. In this scenario last take would be at 194$ There is no way at the moment for me to figure out how to spot the entire move an I guess this will be the job of my entire life. What you don't lock as profit will be frustration in case the stock goes against you and what you lock as profit is frustration in case the stock keeps going. Thus the answer lays where? Locking up with larger gains will produce high number of faked trades closed break even perhaps but few way huge, while the opposite approach will produce almost no big ones but several small. Many small wins costs more in commissions but pay more your ego, while few big cost very few money in commissions but need a way stronger personality. Let's figure out who am I?!?!
Last days I have been testing my strategy showing up where flows lay. I had to let positions run up to my entire stop range for me to verify that I was not setting profit targets and trading with no final goal. I am happy that now I am setting up profit orders at the beginning of a trade and try to stick as much as I can to levels and price action. Still a lot to work on but at least I am putting myself on the right path :)
When I enter a trade it is very very difficult for me to move my eyes from the chart and simply fill in my trade log with entry price, stop and profit target. As soon as I open a position I am completely blocked. I am very happy that I have figure this out so I am lately forcing myself to move the hand from the keyboard and fill in a log sheet with the details regarding my position. I don't really need to do that cause I have already made my margins calculations prior opening the position (at least the majority of my trades) therefore it's just a way to keep the focus on the final objective and release stress that accumulates during the first minutes of my trades!
As size for stocks such as GS/TSLA/NVDA/BA/BABA etc with such ATR I will use 4shares positions with stops that will never pass the whole dollar. This will at least give me the opportunity to have 4 take profits. It is now way too many trades where I need shares so I have to close my positions.
Thus 4 shares with a whole dollar means 4$ max loss. This has to be applied also to the other stocks. Max loss should be MAX 4$ per trade.
Let's see!!

01/16/2019
After a while I have realized that perhaps I should start to simulate what it would be a realistic scenario when I will be ready to trade based on my account size.
At the beginning I would allow myself a loss of -0.33% per trade on my total account.
This would be -80$ per trade. Thus for the time being maybe I could start with 1 on 10 of that amount. -8$ per trade aiming for a 18$ profit.
Such amount of shares will be easily increased by me when I will start being profitable on a monthly base. Scaling up will be easier.
18$ per trade would also let me start covering fees and commissions that as per now make the whole loss I am day by day accumulating.

After a while again:
I have just made for the sake of myself the Risk/Profit tool sheet that will be from now on on my screen with a size 14 font for me to don't lose the main objectives!!

I have just to fill entry and exit price in, plus the amount of money I want to lose.

06/04/2019
If only I would have got this trade nowadays :P
Can't wait for the new earning season to kick in!! In just few weeks ;)