TSLA Trade on Mar 6, 2023 12:41 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 5
Set#: Trading Error:tradingpandl_Set01_02
Ticker: TSLA
Strategy: ()ORBU ()ORBD ()HODB (X)LODB ()After Hours
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2 ()2.50
Beginning Position Size: 25
Entry: 194.25
Technical Stop: 9EMA with confirmation
Hard Stop: 195.25
LRC Break: ()Yes ()No (X)In Between
Bollinger Bands Break: (X)Yes ()No ()In Between
Level1: 191.78 (X)DP()LRC()BB()MA | Level2: 186.01 (X)DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 193.00 | Profit Target2(psy): 192.00 | Profit Target3(psy): 191.00 | Profit Target4(psy):
Exit1: 193.87 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Profit. Market was gapping down at the time of entry. I took a LODB trade at 194.25 with 25 shares when the price action broke the LOD with confirmation and with above average volume and momentum. The price action was in-between the LRC downside and was above the Bollinger Bands. I set the break 9EMA 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 186.01 and I set my profit targets at 193.00, 192.00, and 191.00. I skipped the first profit target to aim for 192.00, but the price made a new LOD then reversed and eventually broke the 9EMA with confirmation, so I stopped out.

*FEELINGS- Describe what you thought and felt during the trade? Not feeling proud because I was trading my P&L.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Market was gapping down. The price action broke the LOD with confirmation. Bad: I skipped my first profit target. The price action made a new LOD, reversed and broke my technical stop with confirmation stopping me out.

*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 just a continuation of trading my P&L which was poor trade management on my part.

*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 return to the practice of not trading my P&L.

*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