TSLA Trade on Mar 6, 2023 10:05 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 3
Set#: Trading Error:tradingpandl_Set01_01
Ticker: TSLA
Strategy: ()ORBU ()ORBD ()HODB (X)LODB ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 (X)1.50 ()2 ()2.50
Beginning Position Size: 25
Entry: 194.68
Technical Stop: Break of resistance of ORL with confirmation
Hard Stop: 196.18
LRC Break: ()Yes ()No (X)In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 191.68 (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 193.50 | Profit Target2(psy): 193.00 | Profit Target3(psy): 192.50 | Profit Target4(psy):
Exit1: 195.60 | 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 a LODB trade at 194.68 with 25 shares when the price action broke the ORL with confirmation with above average volume and momentum. The price action was in-between the LRC and was in-between the Bollinger Bands. I set the break of the 9EMA with confirmation as my technical stop and a 1.50 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 193.50, 193.00, 192.50. The price made a new LOD then reversed and eventually stopped me out.

*FEELINGS- Describe what you thought and felt during the trade? I felt like I was revenge trading at this point.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Price action broke the LOD with confirmation. Bad: Market was gapping up. Not enough momentum to push the downtrend towards my 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 a counter trade to the overall market that was gapping up. I was overtrading at this point and trading my P&L which was a break of my rules.

*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 I have a big losing trade, I will walk away from my trading station to reset.

*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