TGT Trade on Feb 28, 2023 09:37 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 2
Set#:
Ticker: TGT
Strategy: (X)ORBU ()ORBD ()HODB ()LODB ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 (X)2
Beginning Position Size: 50
Entry: 171.94
Technical Stop: 9EMA
Hard Stop: 169.94
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 176.13 (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 172.50 | Profit Target2(psy): 173.00| Profit Target3(psy): 173.50 | Profit Target4(psy):
Exit1: 169.83 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. Market was gapping up at the time of entry. I took an ORBU trade at 171.94 with 50 shares when the price action broke the ORH with above average volume and the daily 20SMA. I set the 9EMA as my technical stop and a 1.50 as my hard stop based on the ATR of the 5-minute candle prior to entry. The price action did break the LRC, and it was in-between the Bollinger Bands. I had a daily pivot at 176.13 and I set my profit targets at 172.50, 173.00, and 173.50. The price action pulled backed but bounced off of VWAP, so I decided to add 50 shares at 170.72. The price action made a new HOD at 172.67 then reversed. I was hoping to reach a profit target of 173.00 even though the original plan to take 2/3 at 172.50 which I could have reached if I had not changed the profit target. The price action broke the 9EMA with confirmation, but I went past my stop and exited below the 20EMA.

*FEELINGS- Describe what you thought and felt during the trade? Trying to remain focused on chart reading and execution but I was moving my stop instead of cutting this losing trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORH with above average volume and momentum. The price action also broke through the daily 20EMA. Bad: I did not take profit at my original profit target of 172.50 seeking to increase my profit at 173.00. The price action made a new HOD and reversed. I allowed the price action move way past my stop.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes it does but not in a good way.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? I allowed greed to change my trade plan including profit targets and stop. I did not use the appropriate ATR which should have been 2.50 instead of 2.00. The risk was too high for me to have taken this trade.

*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? When the ATR is over 2.00 I will either stay away from trading or reduce my share size to better manage my risk/reward.

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

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