After establishing a position in FNKO last week, I was looking to add to it. It had already gone up several percent and I was pissed I got distracted by work during the week and missed the pullback opportunity to add more size. That said, FNKO just announced a new set of Pop! figures for the Nightmare Before Christmas would be hitting the shelves in a few weeks, just in time for Halloween, and I wanted to buy more before the news spread. And FNKO reports earnings next week, had been running up, and I wanted to get my size up.

I watched it hit an ATH first thing in the morning at 18.15 and sat back to see what developed. The previous three ATHs had been followed by big selloffs, and I was looking (hoping) history would repeat. With earnings being reported next week, it did not. Hope is not a strategy. 😉

I bought more at 17.86, just above VWAP, and it proved too eager a move again. It had been consolidating above VWAP for about 10 minutes, and I thought it was going higher. It pulled back to my adjusted buy point, before I FOMO bought, so if I had been patient I would have gotten in at a better price. Lesson still to be learned: Don’t be too eager to get into a position, wait for your moment. Also, I had given myself until 8:30 MT to see what happened, and bought right at 8:30 instead of waiting for it to show me its move. Right after I bought it dropped, showing that there’s nothing magical about 8:30 – use it as a guideline, not a rule.

After getting to work and my morning meetings, FNKO had popped up to another ATH at 18.21, and I was relieved to see my trade was in the black. FNKO kept rising through the afternoon session, finally reaching another new ATH at 18.77 before selling off into the close and closing at 18.45. This was “One Good Trade”! Of course, it could have been a few percent better, but I’m still learning and I’m calling today’s trade a win.

Practice! Practice! Practice! I’m getting better and learning with each trade, and need to see if I can find a way to do them more often going forward. Loving the process!