TSLA Trade on Dec 28, 2022 09:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION (describe in detail):
Trade#: 2
Set#: Trading Error:wrongatrused_Set01_01
Ticker: $TSLA
Strategy: (X)ORBU ()ORBD ()HODB ()LODB
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2
Position Size: 25
Entry: 113.86
Hard Stop: 112.86
Technical Stop: 9EMA
LRC Break (after 10:00 am): ()Yes ()No ()In Between
Bollinger Bands Break (after 10:00 am): ()Yes ()No ()In Between ()Tight ()Open
Target1: 114.50()DP()LRC()BB()MA(X)PSY | Target2: 115()DP()LRC()BB()MA(X)PSY | Target3: 115.50()DP()LRC()BB()MA(X)PSY | Target4: ()DP()LRC()BB()MA()PSY
Exit1: 112.6 Exit2: Exit3: Exit4:

**What was the result of the trade, what happened? Loss. I quickly entered a trade on $TSLA after entering and exiting a mistaken trade on $NVDA. Price action gapped up, made a new HOD then reversed stopping me out. The premarket high was above my profit target. I didn't use the correct ATR for my stop which should have been $2 instead of $1 and which would have given the trade enough room to reach my profit target.

*FEELINGS- Describe what you thought and felt during the trade? A little frazzled after my 1st trade on $TSLA. I felt my ability to process information dropped after that.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Price action broke the opening range high. Bad: I didn't use the correct ATR for my stop. Price action reversed and stopped me out.

*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)? I took the setup when it presented, but the trade failed. If I would have used the correct ATR, I could have taken profit.

*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 make sure to use the correct ATR for stop placement. I will start observing the price action on the 2-minute chart to observe how the 2-minute 9EMA interacts with the 5-minute ATR and make some conclusions based on that observation.

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

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