Shared by
The_Trading_Apprentice
*DESCRIPTION (describe in detail):
Trade#: 3
Set#: 5-minute ORBD_02_02
Ticker: AAPL
Strategy: ()ORBU (X)ORBD ()HODB ()LODB
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
5-Minute ATR: (X).50 ()1 ()1.50 ()2
Position Size: 50
Entry: 127.62
Hard Stop: 128.12
Technical Stop: 9EMA
LRC Break (after 10:00 am): ()Yes ()No ()In Between
Bollinger Bands Break (after 10:00 am): ()Yes ()No ()In Between
Target1: 126()DP()LRC()BB()MA(X)PSY | Target2: 125()DP()LRC()BB()MA(X)PSY | Target3: ()DP()LRC()BB()MA()PSY | Target4: ()DP()LRC()BB()MA()PSY
Exit1: 128.13 Exit2: Exit3: Exit4:
**What was the result of the trade, what happened? Loss. I entered a trade at 127.62 with 50 shares when price action broke the premarket and opening range low. Price action chopped around for about 25 minutes before reversing and breaking though my stops.
*FEELINGS- Describe what you thought and felt during the trade? I was having a difficult time trading in this very choppy environment on the last trading day of the year. I felt like I should have not traded today.
*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Price broke the premarket and opening range low. Bad: Price action chopped around and then reversed stopping me out.
*ANALYSIS- Does the trade make sense to you now that it is over? Yes, it does.
*CONCLUSION- What is the final judgment of the trade (draw conclusions)? It was a good setup that failed.
*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? Continue to take the setup when present and practice excellent risk management.
*TRADE MANAGEMENT: Strategy (X)Go ()No Go | Risk Identified (X)Go ()No Go | Profit Targets (X)Go ()No Go
*TRADE EXECUTION: Entry (X)Go ()No Go | Profit Targets/Stop Respected (X)Go ()No Go
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-12-30 09:48:23 | AAPL | sell | $127.620 | short |
| 2022-12-30 10:17:19 | AAPL | buy | $128.130 | 0 |
Comments
The_Trading_Apprentice
Thanks! I am a life member of both BBT and AJT. I appreciate your feedback.
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Love this recap. Are you in the BearBullTraders Community or Average Joe Trader? Based on the 5m chart im inclined to say it is AGT :)
I've taken this type of trade and have often gotten stopped out because I entered on the 3rd candle. Whenever I am about to enter a trade and it is on a 3rd candle of whatever timeframe (I usually use the 2min chart), I prefer to enter after a pullback and the retest for the possible continuation move.
Hope this helps in any way.
Cheers