META Trade on Jan 26, 2023 09:36 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 1
Set#: Trading Error:paststop_Set01_05 | Trading Error:stopdistancecalculation_Set01_04 | Trading Error:stopnotrespected_Set01_03
Ticker: META
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: 145.84
Technical Stop: 9EMA
Hard Stop: 144.84
LRC Break (after 10:00 am): ()Yes ()No ()In Between
Bollinger Bands Break (after 10:00 am): ()Yes ()No ()In Between
Target1: 146.50 ()DP()LRC()BB()MA(X)PSY | Target2: 147.00 ()DP()LRC()BB()MA(X)PSY | Target3: 154.25 DP(X)LRC()BB()MA()PSY | Target4: ()DP()LRC()BB()MA()PSY
Exit1: 144.69 Exit2: Exit3: Exit4:

**What was the result of the trade, what happened? Loss. Market was gapping up at the time of entry. Price action broke opening range high so I entered a trade at 145.84 with 25 shares. I also entered a simultaneous trade on $NVDA. I had profit targets at 146.50 and 147.00. There was a daily pivot at 154.25. The price action become very volatile on both trades, and I mismanaged the risk management on my trades by going past my stops. I become frazzled and used the Close All Open Position on my Stream Deck to exit both positions.

*FEELINGS- Describe what you thought and felt during the trade? Frazzled and frustrated with my decision-making process.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Not much. Bad: Overall market gapped up and then nosedived. Entered two positions at the same time. Price action made a new HOD then reversed.

*ANALYSIS- Does the trade make sense to you now that it is over? Not at all.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? I used poor judgement trying to enter and manage two trades at the same time. This may have stem from feeling overconfident from my 5-day winning streak and greed. Also, I used the 9EMA as my technical stop which was too far away from my entry. I should have used the opening range high as my technical stop, and I need to do a better job of setting up my stop levels.

*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 stick with one active trade at a time until I develop the necessary skill and experience to manage multiple trades simultaneously.

*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