META Trade on Mar 7, 2023 10:01 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 4
Set#: LODB_01_12
Ticker: META
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: 50 (added 50 additional shares at 186.13
Entry: 186.55
Technical Stop: Loss of support of the premarket low with confirmation
Hard Stop: 187.65
LRC Break: Not noted
Bollinger Bands Break: Not noted
Level1: 183.31 (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 185.50 | Profit Target2(psy): 184.50 | Profit Target3(psy): | Profit Target4(psy):
Exit1: 185.50 | Exit2: 185.85 | 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 186.65 and 186.13 for a total of 100 shares when the price action broke the ORL with confirmation with above average volume and momentum. I also waited for the price action to clear the 5-minute 200SMA and premarket low. I set the loss of the premarket low 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 183.31 and I set my profit targets at 185.50 and 185.85. I took a 2/3 partial when the price action reached my profit target of 185.50 and then I set my stop to breakeven. I scaled the rest of my shares at 185.85 when the price made a new LOD then reversed.

*FEELINGS- Describe what you thought and felt during the trade? Feeling reset and trading in the zone.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the LOD with confirmation, but I waited for the price action to clear the 5-minute 200SMA and premarket low. Bad: The price action made a new LOD and reversed.

*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 good trade that allowed me to practice not trading into support.

*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 (X)Go ()No Go