META Trade on Mar 10, 2023 13:15 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 2
Set#: Reversal_Set01_1-20 * Trading Error:resistancetoprofit_Set01_14
Ticker: META
Strategy: ()ORBU ()HODB ()ORBD ()LODB (X)Reversal ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2 ()2.50
Beginning Position Size: 100
Entry (AvgCost): 181.97
Technical Stop: 181.51 (DP)
Hard Stop: 180.97
LRC Break: ()Yes (up/down) (X)No ()In Between
Bollinger Bands Break: ()Yes (up/down) ()No (x)In Between
Level1: 183.10 (X)DP()LRC()BB()MA * Level2: 186.36 ()DP()LRC(X)BB()MA * Level3: ()DP()LRC()BB()MA * Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 84.00 * Profit Target2(psy): 84.50 * Profit Target3(psy): 85.00 * Profit Target4(psy):
Exit1: 181.93 * Exit2: * Exit3: * Exit4: * Exit5:

**What was the result of the trade, what happened? This was a breakeven trade. The market was gapping up at the time of entry. I took a reversal trade at an average cost of 181.97 with 100 shares when the price action bounced off the daily pivot of 181.51 and the PCL. Volume was below average. The price action did not break the LRC and was in between the Bollinger bands. I set the technical stop at 181.51 which was a daily pivot and I set a 1.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had a daily pivot at 183.10 and a Bollinger Bands levels at 186.36. I set my profit targets at 84.00 and 84.50. The price action moved upwards, and it pushed through the moving averages acting as resistance including my daily pivot at 183.00 but could not push any further and reversed. Eventually I decided to exit my position at break even as the overall market was declining.

*FEELINGS- Describe what you thought and felt during the trade? I was still focused on the trade, but I just felt that my capacity to trade at the moment was diminished so I decided to no longer trade for the rest of the session.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action bounced off PCL and daily pivot support levels and then reversed. Bad: I traded into support. The price action push through the daily pivot as resistance but then reversed and I decided to exit at breakeven.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes, it does.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? I attempted another setup this time a reversal trade which I learned from my mentor but had not practiced in live trading. The trade eventually failed, and I decided not to continue to trade for the rest of the trading session.

*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 continue to take the reversal setups when an opportunity presents and journal my results afterwards.

*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