MDB Trade on Mar 9, 2023 09:58 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 4
Set#: Trading Error:resistancetoprofit_Set01_13 | Trading Error:revengetrading_Set01_07
Ticker: MDB
Strategy: ()ORBU ()HODB ()ORBD ()LODB ()Reversal ()After Hours (X)Revenge
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 ()2 ()2.50 ()4.00
Beginning Position Size: 100
Entry: 216.63
Technical Stop: 9EMA with confirmation
Hard Stop: 212.63
LRC Break: ()Yes ()No (X)In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 5-minute 200SMA ()DP()LRC()BB(X)MA | Level2: 219.73 ()DP()LRC()BB()MA | Level3: 227.6 (X)DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 217.50 | Profit Target2(psy): 218.00 | Profit Target3(psy): | Profit Target4(psy):
Exit1: 218.00 | Exit2: 220.39| Exit3: 216.6 | Exit4: | Exit5:

**What was the result of the trade, what happened? Profit. Market was gapping up at the time of entry. I took a revenge trade at 216.63 with 100 shares when the price action gapped up with average volume. The price action was in-between the LRC and was in-between the Bollinger Bands. I set the 9EMA with confirmation as my technical stop and a 4.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had the 5-minute 200SMA as resistance and daily pivots at 219.73 and 227.60and I set my profit targets at 217.50 and 218.00. I took a 2/3 partial when the price action reached my profit target of 218.00 and then I set my stop to breakeven. I took another partial at 220.39 and scaled out the rest of my shares at 216.6 near breakeven.

*FEELINGS- Describe what you thought and felt during the trade? Relived that I took profit, but not satisfied with my trading performance.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Not much. Bad: I traded into the 5-minute 200SMA.

*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 took a revenge trade that resulted in profit taking but my overall performance was not that great.

*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 stop trading when I have lost control of my ability to trade and walk away from my trading station.

*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 ()Go (x)No Go

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Execution detail:

Date/time Symbol Side Price Position
2023-03-09 09:58:23 MDB buy $216.630 long
2023-03-09 10:00:51 MDB sell $218.000 long
2023-03-09 10:03:17 MDB sell $220.390 long
2023-03-09 10:08:01 MDB sell $216.600 0


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