NVDA Trade on Feb 28, 2023 13:05 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 5
Set#: Trading Error:revengetrading_Set01_03
Ticker: NVDA
Strategy: ()ORBU ()ORBD (X)HODB ()LODB ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2
Beginning Position Size: 66
Entry: 237.64
Technical Stop: 9EMA
Hard Stop: 236.64
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 238.88 (X)DP()LRC()BB()MA | Level2: 246.65 (X)DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 238.50 | Profit Target2(psy): 239.00 | Profit Target3(psy): | Profit Target4(psy):
Exit1: 237.58 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. The market was gapping up at the time of entry. I took an HODB at 237.64 with 66 shares when the price action broke HOD with confirmation. My technical stop was the 9EMA and I set a hard stop of 1.00 based on the ATR of the 5-minute candle prior to entry. The price action broke the LRC and it was in-between the Bollinger Bands. I had a daily pivot of 238.88 and 246.65. I set my profit targets at 238.50 and 239. The price made a new HOD at 238.25 before pulling back to the previous HOD level. The price action consolidated for about 36 minutes and was staying in range between the new and previous HOD. I decided it was not worth continuing this trade, so I exited my position.

*FEELINGS- Describe what you thought and felt during the trade? Frustrated and tired.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The market was gapping up. The price action broke the HOD with confirmation. Bad: The price action started to consolidate in a range between the new and previous HOD.

*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 was experiencing frustration with myself for taking this trade based on revenge and I got caught in the chop. I was fortunate to exit my position at near breakeven.

*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 remove myself from my trading station whenever I am feeling frustrated, tired, and not thinking clearly about my setups and trade management.

*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 (X)Go ()No Go