Wedesday 12/18/2019
I had a well-being score of 7/10 this morning.
I took 2 live trade this morning with BABA and NFLX.
My watchlist: BABA, MU, NFLX, PCG and FDX.
Nothing too exciting in the PM. BABA didn’t really gap or have any PM volume. But it is good to see how it reacts in these low volume days. So I followed the same method. But the big print was instant at the open, like AAPL, so it may not mean much even though it was 295K shares. 6 seconds later was the sizeable (>2K) print (at the ask) but only 7 cents higher than the big print so I waited. Then another sizeable print at the ask. Though the 1min candle wasn’t the best looking, I liked the prints, L2 was a bit more bullish, we were above VWAP, the spread was tight, and mostly the volume was strong, so I went long. My target was 209.15 with my stop at the bottom of the wick.
The chart when I went long:
The price actually did reach my first target of 208.88, but spiked right through it my fill was almost back at B/E. Then the price was dropping. Before it hit B/E I decided to flip my position. Wow can not believe how bad the fill was. The exit fill was bad enough to give my first trade a slight loss and the second fill, to enter the short, was already 1R from where I tried to flip. I should have exited immediately. Instead I made the mistake of only taking a 25% partial and setting my stop order at B/E. It flew through B/E again and somehow made the second trade a slight loss as well. Only BABA can make two trades, the first one I tried to partial at 2R and the second I partailed at 1R. And both still had a loss.
NFLX had an interesting daily chart and had a good 2min ORB setup, but I was busy with BABA at the time. After the BABA trade I still liked price action and went long with half shares hoping it will drop back down and bounce from VWAP where I will take the rest of my shares. Which it did about 4 minutes later. My stop was the 316.80 level. The target was HOPM. The price did move up and break the 318.20 level where I took a partial. The price retraced quickly and I took another partial because I was losing faith. Then out at B/E. Too bad if I stayed at my stop I would have seen a big run. But I have been so poor in the ORBs lately I need to presently stick to exiting at B/E.
What did I do good today? I took a live ORB on NFLX.
What I am grateful from today? Trading something other than BABA.
What I should improve on: Maybe it is time to create the flip hotkey.