SQ Trade on Mar 1, 2019 09:53 from ValeriuMoraru: Tradervue User Stock Trades.

Initial Comment:

On this trade i was focused on finding a good support level that didn't broke immediately. I so that it was consolidating between 79.20 and 79.60. So i taught that this is probably going to make another spike to the 79.80/90c area to retest the hole number and the previous attempt to break throe. Unfortunately it wasn't the case, i had to get rid of the stock immediately because i recognize that the bid wasn't going higher after it touched the VWAP. The big mistake that i made here is to not take my profits as soon as i recognized that it was slowing down and second I let my self HOPING instead of being rational and just cut it there at 60c area and get short.

Proper Prep:

I watched the charts and news before the market and also i studied the previous day price action winch were crazy nice. It's funny how much a piece of news can make a stock move.
Any way, my technical levels on the chart were based a lot on the previous day and from longer term charts. One thing that i was looking was a slower continuation on the up side so that's why i hesitated to search for a place to short it after my first try. I didn't want to get burned.

Hard Work:

I watch the tape the day before and into the premarket another 20 min. My taught were pretty positive because it had just barely broken the support of the after hours into the premarket so i was expecting a spike up on the open. Worst case a quick retest of 80$ area and maybe a 79.50$ area but surely not a sharp drop. After i so the MONSTER OPEN it had i let it calm down and search for a good place to get in. after 20 min it started to consolidate between 79.20 - 79.60 (with the initial spike to 79.99). The pattern wasn't super complicated, it basically made this ; When it was testing resistance or VWAP it was slowing down significantly and immediately after the bid drooped and went down 15c-20c (so it was spready when it moved in any direction) and the same when it was testing the 20c area. Then it the range narrowed and instead of testing 70c-60c it tested 50c but the 20c area remained. So i decided to hit it after i so it was holding again the same area. The volume wasn't that much so that was another point for me that convinced me to get long.

Patience:

In this period i'm not trading the open because i suck at it. I don't like to take trades that i'm not capable to manage. I'm studding to understand how to trade them, so i will probably re-start doing them in a couple of week or maybe days. Anyway i was waiting for a consolidation area where i could define my risk. When it started to hold between 79.20 and 79.60 i so my edge and i hit it.

Detailed Plan:

My plan was simple. Get long at 30c support (i couldn't get the 20c I tried), If 30c drop get out if 50 lifts look for 75c to 99c area to sell. If 75c holds sell into 60-75c area.

Discipline:

Unfortunately i wasn't disciplined enough because because i was starting to HOPE instead of sating focused. I convinced my self that because it had broken the 50c and 60c area there was no way that it couldn't test the 90c area. Unfortunately it didn't and i had to hit it. I covered the trade and i basically payed my commissions with what i gained.

Contribution:

NON

Reviewing:

This trade like many others it could had been much better, if i din't focused to much only on one side. I was blind by the possibility of getting long and make a quick 60c. Next time i will try my best to not avoid one side and stay open minded for both sides. Overall
this trade i think is not a bad one but it can be improved vastly.