DKS Trade on Mar 7, 2023 10:27 from The_Trading_Apprentice: Tradervue User Stock Trades.

Trade#: 5
Set#: Trading Error:technicalstopnotrespected_Set01_12
Ticker: DKS
Strategy: ()ORBU ()ORBD (X)HODB ()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: 100
Entry: 145.12
Technical Stop: 9EMA with confirmation
Hard Stop: 143.62
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: (X)Yes ()No ()In Between
Level1: ATH (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 146.25 | Profit Target2(psy): 146.50 | Profit Target3(psy): | Profit Target4(psy):
Exit1: 146.15 | Exit2: 146.50 | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Profit. Market was gapping up at the time of entry. I took a LODB trade at 145.12 with 100 shares when the price action broke the HOD with confirmation and average volume but with momentum. The price action broke the LRC to the upside and was above the Bollinger Bands. I set 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 ATH, and I set my profit targets at 146.25 and 146.50. I took a 2/3 partial when the price action reached 146.15 and then I set my stop to breakeven. I scaled the rest of my shares at 146.50 which was my final profit target.

*FEELINGS- Describe what you thought and felt during the trade? Tired, but feeling good with my execution and trade management.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the HOD with confirmation Bad: I didn't respect my technical level and allowed it to retest a few times.

*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 practiced a lot of patience with 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? Continue to take the setup and practice excellent risk management.

*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 ()Go (X)No Go


Execution detail:

Date/time Symbol Side Price Position
2023-03-07 10:27:00 DKS buy $145.120 long
2023-03-07 12:08:25 DKS sell $146.150 long
2023-03-07 12:10:51 DKS sell $146.500 0

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