FB Trade on Sep 30, 2015 10:08 from Holden: Tradervue User Stock Trades.

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Holden

 

This was just a mess. I was not settled and allowed myself to get emotionally driven instead of just focusing on what the quality set up wMy thought process-

I had worked my progression early but had not really planned out the action for continuation moves higher as well as I should have
Coming into the session I was looking for a possible fade play and so when the action failed to break lower I was not really prepared for plays higher and found myself almost sitting back and not resetting my mind from the earlier play in TSLA.
When I am through my progressions, I want to be sure to not force things and instead to take some time and clearly detail out what sort of set up seems to be developing and what plays I want to look for.
Instead I just saw the price action in FB breaking higher on decent volume, checked and saw the China rumor, waited for it to hold above a level (89) and got long.

Why did I pass/take this play and most importantly, why is this set up in my Anti-playbook trade
I took a play not because it was a good trade or because I had a good play for what I was looking for but because it seemed like an easy scalp move.
This just as easily could have ended really poorly for me. I took a play not because it was a good trade or because I had a good play for what I was looking for but because it seemed like an easy scalp move.

Why did it happen and what do I need to do next time so that that doesn’t happen/Better approach
If I dont take the time to re-plan if my initial thinking does not develop, I dont have a plan for the current information, I have a plan based on the information I had before the market opened. It shows me I am not using the information effectively and instead playing off what I thought may be there even if it is not there.
as.


Execution detail:

Date/time Symbol Side Price Position
2015-09-30 10:08:22 FB buy $89.120 long
2015-09-30 10:13:32 FB sell $89.120 0
2015-09-30 10:17:03 FB sell $89.180 short
2015-09-30 10:18:34 FB buy $89.330 0
2015-09-30 10:19:36 FB buy $89.370 long
2015-09-30 10:20:22 FB buy $89.610 long
2015-09-30 10:32:48 FB sell $89.800 0


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