MRVL stock trades | 5 min chart | Lessons learned

 

Do not trade until MRVL stock retraced to 5 min FVG half line - $279.42/ share

1. Should wait MRVL stock retraced to 5 min EMA5, EMA 9, 21? Not good enough 
2. Should wait MRVL stock retraced to 5 min EMA 50? Not good enough
3. Should wait MRVL stock retraced to 5 min FVG half line $279.42/ share, close to EMA 100
4. Rebound from $279.42/ share to 290.80/ share

Trades: 

Trade 1: 

1. Time:
2. Qty: 20 shares
3. Entry price: 299.20 
4. Sold price: 293.50 
5. Loss: 20 x 4.7 = $97 US dollars

Trade 2: 

1. Time: EMA 20 - 
2. Qty: 20 shares
3. Entry price: 291
4. Sold price: 289.68 
5. Loss: 20 * 1.32 = 22.64 US dollars

Trade 3: 

1. Time: FVG half
2. Qty: 20 
3. Entry price: $281.87 x 20 shares
4. Entry price: $282.7899 x 80 shares

Trade 4: 

1. 100 shares at $286.15

Trade 5: 

1. Sold 200 shares at $285.4473

Trade 6: 

1. 180 shares purchased at $285.185
2. 180 shares sold at $287.8282

Trade 7: 

1. 180 shares purchased: $289.81 
2. Sold at $289.31

Trade 8: 

1. Sold 20 shares at $289.04

Trade 9: Gambling - rushed to catch another uptrend 

1. 200 shares purchased at $290.7389
2. 200 shares sold at $286.5527

Lessons learned: 

1. First, only 20 shares purchased, risk management, hard to time entry point
2. First two trades - 20 shares - Loss near $300 US dollars 
3. Lessons learned - Do not trade at high price 
4. Only trade at lowest price possible 
5. Premarket, MRVL stock went down $261/ share
6. Uncertainties - Always apply good risk control - Wait, purchase one share to watch 

It is best idea to buy MRVL stock after earnings dip - Close to EMA 100, and then hold MRVL stock until MRVL stock reachs new high around $300/ share

Trade plan:

1. Buy 300 shares of MRVL at price $200/ share
2. Hold for 24 days, 50% gain from $200/ share to $300/ share 
3. Profit will be 300 x 100 = 30, 000 US dollars in 24 business days