ICPT Trade on Feb 19, 2019 09:30 from ValeriuMoraru: Tradervue User Stock Trades.

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ValeriuMoraru

 

Initial Comment:

I started by analyzing the chart. After i so it had a lot of potential for a short on the open i decided to watch it trade in order to understand the risk. Usually biotech tend to drop really badly on the open. Unfortunately i wasn't fast enough to take a short right on the open. I decided to fade it and play the momentum.

Proper Prep:

I was prepared because i knew the levels, i analyze the charts and watched the tape to understand what the important levels were and to see the spread.

Hard Work:

I watched 10/15 min the tape before the open and i study the important levels in order to understand my edge.

Patience:

I mist the short right on the open so i waited the trade to develop and as soon as i so the tape slowing down (going down) i fade it.

Detailed Plan:

My plan was to get long and fade it as soon as i so it slow down and more importantly after i so it made a significant down move.

Discipline:

I realize the risk and to be honest i don't really like this type of trades because they are difficult and risky. In this case the thing that really wearied me was the spread witch was really big. The only thing that motivated me was the fact that when it started moving the bid was always catching up and closing the gap between the bid and the ask. In essence, my risk was 1 and my reward was 1 (in this case) because of the spread. It isn't a really good risk/reward only because i don't like to wait(to let it go up) on this type of trades if it does't work right away. Next time i will try to manage my risk better by improving the tape reading and trying to get filled at a lower price so that i can have at least a 1/3 risk reward.

Contribution:

Well, unfortunately i don't have anyone to trade with (even if i will really love to). I will had gladly shared this trade.

Reviewing:

I'm not super happy about this trade because i screw on the price that i got in. The idea was good (i think) because it actually made what i was expecting. The thing that i really need to improve is my executions by exercising more on them and creating some new exercise, one of them it can surely be one where i replay the recording and try to simulate this scenario on open, another can be just getting faster by exercising on the speed of my execution before the open.


Execution detail:

Date/time Symbol Side Price Position
2019-02-19 09:30:47 ICPT buy $125.150 long
2019-02-19 09:31:12 ICPT sell $126.570 0


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