FL Trade on Mar 1, 2019 10:43 from ValeriuMoraru: Tradervue User Stock Trades.

Initial Comment:

I so it was dropping quickly, then it slowed down and it started to hold up the 40c so i decided to quickly make a scalp. My stop was below 40c and my exit above 60c. The momentum didn't work out so i got out immediately and in fact it did drop almost 20c. My mistake was that i didn't re-evaluate immediately and got in again. Because of that i mist a really nice
up move. I will study the tape (on the video recording) and try come up with a theses that determine what to identify and where i should get in order to not miss this trade again.

Proper Prep:

I analyzed the various level and this was one of them. Unfortunately it didn't work out so i got out immediately. A big factor that pushed me to get in was the the change in pattern and the fact that it was doing volume and it didn't drop any more as quickly as it did previously.

Hard Work:

I was watching the tape and it was doing a pattern; Selling down $1.10 (ish) and then up 40c-60c (ish) for a couple of time, so as soon as i so a change in pattern in this case it sold another 1.30c (ish) so 0.20c more then the usual $1.10 (ish), also started to hold to the 40c ares and make more volume i decided to get it a try and get long. As soon as i so the bid dropping the 40c i know that i had to get out.

Patience:

I'm working a lot in this period on my patience, because i so that i'm taking to many forced trades . I'm trying to eliminate as much as i can Forced Trades or harming trades (basically when i don't cut my loss like i should), by analyzing more making a better plan, studding the pattern and the tape before entering a trade.

Detailed Plan:

My plan was simple, perhaps to simple. Long if it holds 40c and exit above 60c (max 75c if it slowed down) , if it drop 40c get out immediately.

Discipline:

I wasn't quick enough to get out at 38c, but i'm "ok" with $62.34 too, because i respected my plan and my stop loss rule. Next time i will be faster.

Contribution:

NON

Reviewing:

This can become a good bounce/momentum play that i can develop. Next time i will try to apply what i learned today on another trades. Also the pattern wasn't super complicated, i just need to make a better detailed plan and take action more quickly in order to not miss this opportunity again.

What i should also watch is why i didn't do the easy play. What i mean by that is to first get short and then make this play.