TSLA Trade on Mar 3, 2023 09:36 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 1
Set#:
Ticker: TSLA
Strategy: ()ORBU (X)ORBD ()HODB ()LODB ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2 ()2.50
Beginning Position Size: 25
Entry: 193.25
Technical Stop: ORL
Hard Stop: 194.25
LRC Break: ()Yes (X)No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 191.78 (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 192.00 | Profit Target2(psy): 191.50 | Profit Target3(psy): 191.00| Profit Target4(psy):
Exit1: 194.29 | 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 ORBD trade at 193.25 with 25 shares when the price action broke the ORL with above average volume and momentum. The price action did not break the LRC and was in-between the Bollinger Bands. I set the break of the ORL with confirmation as my technical stop and a 1.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had a daily pivot at 191.78 and I set my profit targets at 192.00, 191.50, 191.00. The price made a new LOD then became volatile and choppy reversed and hit my hard stop.

*FEELINGS- Describe what you thought and felt during the trade? Feeling anxious with the volatility and choppiness of the entry candle.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORL with above average volume and momentum. Bad: The market was gapping up. The price action became volatile and choppy breaking through the moving averages. The 5-minute 100 SMA was near entry acting as resistance but quickly became support. Also, the 5-minute 200SMA, premarket low, and PCL were in the way of profit targets.

*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 execute the set up correctly, but the price action was too volatile and choppy for me to continue. Also, once the 5-minute went from resistance to support I should have exited the trade, but the price action was moving too fast for me to process that move.

*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 avoid trading into support and not allow my losing trades to run against me.

*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 ()Go (X)No Go | Profit Targets/Stop Respected Without Fear ()Go (X)No Go