PANW Trade on Feb 22, 2023 09:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 1
Set#: Trading Error:paststop_Set01_08 | Trading Error:positionsizing_01_01
Ticker: PANW
Strategy: (X)ORBU ()ORBD ()HODB ()LODB ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 ()2 (X)2.50
Beginning Position Size: 100
Entry: 187.52
Technical Stop: Loss of ORH with confirmation
Hard Stop: 185.02
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 184.51(X)DP()LRC()BB()MA | Level2: 190.00 (X)DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 189.00 | Profit Target2(psy): 189.50 | Profit Target3(psy): 190.00 | Profit Target4(psy):
Exit1: 184.52 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. Market was gapping up at the time of entry. $PANW reported earnings beat yesterday after hours. I entered an ORBU trade at 187.52 with 100 shares when the price action broke the ORH. I set a technical level at the loss of the ORH with confirmation. The hard stop was set at 185.02 which was an ATR of 2.50 based on the previous 5-minute candle prior to entry. I had daily pivots at 184.51 and 190.00. I set profit targets at 189.00, 189.50, 190.00. The price action become violate and choppy after entry and created a new HOD of 188.38 before reversing. I allowed the price action to break the ORH and go past my hard stop breaking the 20EMA before I decided to exit my position.

*FEELINGS- Describe what you thought and felt during the trade? Feeling confident about taking this trade but predicting and greed took over my trade plan.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The market was gapping up and the price action broke the opening range high. There were no moving averages or levels in the way of profit targets. Bad: I entered a share size too big for the risk involved. The price became violate and choppy soon after entry and I allowed predicting and greed to take over my trade plan.

*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)? The setup was present, but I failed to manage this trade causing my loss to be larger than what it should have been.

*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 follow my risk management plan and not allow myself to predict what will happen next or not respect my stops due to greed.

*TRADE MANAGEMENT: Strategy (X)Go ()No Go | Max Risk Per Trade Identified ()Go (X)No Go | Profit Targets Set (X)Go ()No Go

*TRADE EXECUTION: Entry (X)Go ()No Go | Profit Targets/Stop Respected Without Fear ()Go (X)No Go