TSLA Trade on Feb 7, 2023 13:50 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 3
Set#: Trading Error:enteredlate_Set01_03
Ticker: TSLA
Strategy: ()ORBU ()ORBD ()HODB (X)LODB
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 (X)2
Position Size: 25
Entry: 189.64
Technical Stop: 9EMA
Hard Stop: 192
LRC Break (after 10:00 am): ()Yes (X)No ()In Between
Bollinger Bands Break (after 10:00 am): ()Yes ()No (X)In Between
Target1: 189.00 ()DP()LRC()BB()MA(X)PSY | Target2: 188.50 ()DP()LRC()BB()MA()PSY | Target3: 182.50 (X)DP()LRC()BB()MA()PSY | Target4: ()DP()LRC()BB()MA()PSY
Exit1: 192.25 Exit2: Exit3: Exit4:

**What was the result of the trade, what happened? Loss. Market was gapping down. I entered a trade at 189.64 with 25 shares when price action broke LOD with confirmation. I set profit targets at 188.50 and 188. I had a daily pivot at 182.50. Price action made a new LOD at 189.55 then reversed eventually stopping me out.

*FEELINGS- Describe what you thought and felt during the trade? More FOMO and revenge trading.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Price action broke LOD with confirmation. Bad: Again, I entered the trade at the end of the stock's parabolic move and near the daily 100SMA.

*ANALYSIS- Does the trade make sense to you now that it is over? No

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? This was not a good setup and I could have ended my day with a much smaller loss.

*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 be aware of how the overall market is moving especially when it is making parabolic moves.

*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