Summary
Anticipated this move after yesterday's somewhat surprising selloff, despite good earnings. However, I totally minimized the opportunity. I had it on main watch, and even entered once I realized the entry signal had triggered, but I only went small size, and sold after only $0.50 of upside; wow.
Did Right
- Stuck with a potential opportunity into 2nd day, when day 1 didn't turn out as expected.
- Had a premeditated bias going into the trade
- Waited for an entry signal, and entered a position once I saw it
Did Wrong
- Minimized the shit out of this killer opportunity. Wasn't REALLY prepared for this opportunity; I should have been better prepared to actually tackle this opportunity once price action confirmed.
- Wasn't sized in to max size on this A+ entry
- Didn't actually recognize the up/down/up motion on the 20ma as A+ in the moment
- Sold position way too soon, and for no reason; literally hadn't hit any resistance yet.
- Sold my position all at once, as opposed to selling a partial and holding onto a core.
Improvements
- Be more prepared to capture the opportunity you're expecting. When you finally get that A+ opportunity, be ready to seize it.
- Have at least some Reason2Sell; either it's reaching an important level/indicator, or starts to stall out and hit resistance.
- Be sure to actually re-add, if you exit full position into a spike, with intention to recycle.
Next Trade
IBM got upgraded today to $155, would expect more continuation to the upside for the next day or two.
Playbook Trade
![Playbook Trade](https://www.tradingview.com/x/H9QvQ1p5/)
![Killer Open](https://www.tradingview.com/x/srn8wpVA/)