AMD Trade on Feb 1, 2023 13:03 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 3
Set#: Trading Error:FOMC announcement_Set1_01
Ticker: AMD
Strategy: ()ORBU ()ORBD (X)HODB ()LODB
Market Condition: ()Gapping Up ()Gapping Down (X)Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2
Position Size: 50
Entry: 81.84
Technical Stop: 9EMA
Hard Stop: 80.84
LRC Break (after 10:00 am): (X)Yes ()No ()In Between
Bollinger Bands Break (after 10:00 am): (X)Yes ()No ()In Between
Target1: 82.50 ()DP()LRC()BB()MA(X)PSY | Target2: 83 ()DP()LRC()BB()MA(X)PSY | Target3: 83.27 (X)DP()LRC()BB()MA()PSY | Target4: ()DP()LRC()BB()MA()PSY
Exit1: Exit2: Exit3: Exit4:

**What was the result of the trade, what happened? Profit. Market was consolidating ahead of the FOMC announcement. $AMD reported strong earnings after hours yesterday. Price action broke HOD with confirmation. I took a trade at 81.84 with 50 shares. Profit targets were 82.50 and 83.00 with a daily pivot at 83.27. Price action started to consolidate then lost the 9EMA and 20EMA near the FOMC announcement, so I exited my position. Once the announcement was made, price action continued its upward trend to 85.48.

*FEELINGS- Describe what you thought and felt during the trade? Feeling confident in the trade but losing that confidence as the FOMC announcement got closer.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Price action broke HOD with confirmation. Bad: FOMC announcement.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? I should have stayed away from trading until the FOMC announcement was made.

*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? Stay away from trading in the afternoon during FOMC announcement until the announcement and press conference is over.

*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 (X)Go ()No Go