META Trade on Mar 8, 2023 09:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 1
Set#: Trading Error:supporttoprofit_Set01_07
Ticker: META
Strategy: ()ORBU ()HODB (X)ORBD ()LODB ()Reversal ()After Hours
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2 ()2.50
Beginning Position Size: 100
Entry: 181.70
Technical Stop: ORL with confirmation
Hard Stop: 182.70
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: (X)Yes ()No ()In Between
Level1: 181.51 (X)DP()LRC()BB()MA | Level2: 176.11 (X)DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 180.50 | Profit Target2(psy): 180.00 | Profit Target3(psy): | Profit Target4(psy):
Exit1: 181.979 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. Market was gapping down at the time of entry. I took an ORBD trade at 181.70 with 100 shares when the price action broke the ORL with slightly above average volume. The price action broke the LRC downside and was above the Bollinger Bands. I set the loss 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 181.51 and 176.11. I set my profit targets at 180.50 and 180.00. The price action became very volatile and choppy with large wicks, so I decided to exit this trade and wait to see if the price action settles down and another opportunity sets up.

*FEELINGS- Describe what you thought and felt during the trade? Focused and ready to trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORL with slightly above average volume. Bad: I traded into support. The price action became very volatile and choppy with large wicks.

*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 execute the setup but didn't watch for support levels in the way of profit targets.

*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 but do not trade into support or resistance.

*TRADE MANAGEMENT: Strategy ()Go (X)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