TSLA Trade on Dec 21, 2022 09:51 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION (describe in detail):
Trade#: 4
Set#: Trading Error:unrealistictargets_Set01_01 | Trading Error:wrongstrategy_Set01_01
Ticker: TSLA
Strategy: ()ORBU ()ORBD (X)HODB ()LODB
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ().50 (X)2
Position Size: 25
Entry: 139.9797
Hard Stop: 137.9797
Technical Stop:
LRC Break: ()Yes ()No ()In Between
Bollinger Bands Break: ()Yes ()No ()In Between ()Tight ()Open
Target1: 142()DP()LRC()BB()MA(X)PSY | Target2: 143()DP()LRC()BB()MA(X)PSY | Target3: 145.82(X)DP()LRC()BB()MA()PSY | Target4:()DP()LRC()BB()MA()PSY
Exit1: 139.21 Exit2: Exit3: Exit4:

**What was the result of the trade, what happened? Loss. When I exited my position. Price action broke the opening range high again and I entered the trade with a target of 142. Price action made a new HOD at 141.26 and reversed. I had an opportunity to take profit at 141 but I had set my first target at 142 which was too far to achieve. The 100/200 SMA were also in the way of my profit targets. I should have treated this trade as a HODB because the opening range high was already broken. This would have given me the opportunity to wait for confirmation of the HOD break before entering.

*FEELINGS- Describe what you thought and felt during the trade? I felt like I was rushing into trades without understanding what the charts were telling me.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Gapping up. Bad: I treated this trade as a ORBU instead of a HODB. The 100/200SMA was in the way of profit targets. My price targets were too high.

*ANALYSIS- Does the trade make sense to you now that it is over? No, it doesn't.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? This trade was not a good setup based on the strategy and I rushed into entering a position.

*ACTION PLAN- How are you going to avoid the mistakes you made on this trade? How are you going to make sure you get the same results the next time if the trade was good? I will avoid entering trades if I'm feeling rushed. I will walk away from my trading station when I need to reset.

*TRADE MANAGEMENT: Strategy ()Go (X)No Go | Risk Identified (X)Go ()No Go | Profit Targets ()Go (X)No Go

*TRADE EXECUTION: Entry ()Go (X)No Go | Profit Targets/Stop Respected ()Go (X)No Go