NVDA Trade on Feb 28, 2023 10:29 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 4
Set#: Trading Error:technicalstopnotrespected_Set01_08
Ticker: NVDA
Strategy: ()ORBU (X)ORBD ()HODB ()LODB ()After Hours
Market Condition: ()Gapping Up ()Gapping Down (X)Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2
Beginning Position Size: 66
Entry: 233.08
Technical Stop: 9EMA
Hard Stop: 234.08
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: ()Yes (X)No ()In Between
Level1: 232.20 (X)DP()LRC()BB()MA | Level2: 226.7 (X)DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 232.00 | Profit Target2(psy): 231.50 | Profit Target3(psy): 231.00 | Profit Target4(psy):
Exit1: 234.55 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. The market was consolidating at the time of entry. I took an ORBD at 233.08 with 66 shares when the price action broke the ORL and premarket low with average volume. My technical stop was the 9EMA and I set a hard stop of 1.00 based on the ATR of the previous candle prior to entry. The price action broke the LRC and was in-between the Bollinger Bands. I had a daily level at 232.2 and 226.70. I set my profit targets at 232.00, 231.50, 231. The price action made a new LOD at 232.91 before reversing. The price action wicked through the 9EMA several times but did not push through with the body of the candle until 30 minutes into the trade. I allowed the price action to break through VWAP at which point I exited my trade which was past my hard stop.

*FEELINGS- Describe what you thought and felt during the trade? Not feeling in control of my trade management.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke through ORL and premarket low. Bad: The price action made a new LOD and then reversed. I did not respect my stops.

*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)? I executed the setup but did not manage the trade well. I was testing an idea of discounting the break of the technical level with candle wicks unless there is a candle body pushing through the technical level. I think if there are too many Dojis forming right at the break of the technical level with low volume it may be a sign that the trade will fail, and at which point I should exit my position and not allow the price action to continue to move against me in hopes that my trade will work.

*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? Respect my stops and not allow too much time to pass to exit a trade that is not working.

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