TSLA Trade on Mar 3, 2023 09:39 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 2
Set#: Trading Error:supporttoprofit_Set01_06
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: 193.10
Technical Stop: Break of resistance of ORL with confirmation
Hard Stop: 194.10
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: 194.17 | 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 2nd ORBD at 194.17 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 reversed becoming volatile and choppy eventually stopping me out.

*FEELINGS- Describe what you thought and felt during the trade? Feeling a little frazzled with the volatility and choppiness of the price action.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price broke the ORL for a 2nd time with volume and momentum. Bad: The market was gapping up. The price action became very volatile and choppy. The 5-minute 100SMA went from support to resistance. The 5-minute 200SMA and premarket low was 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)? This was my 2nd attempt at this trade and the price action performed almost exactly as the 1st 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? Continue to take the setup and practice excellent risk management. Watch for support levels in the way of profit targets.

*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 (X)Go ()No Go