META Trade on Mar 13, 2023 10:38 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 1
Set#: 5-minute ORBD_02_11
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 (AvgCost): 175.22
Technical Stop: ORL
Hard Stop: 176.22
LRC Break: (X)Yes (down) ()No ()In Between
Bollinger Bands Break: (X)Yes (down) ()No ()In Between
Level1: 173.35 (X)DP()LRC()BB()MA * Level2: 171.39 (X)DP()LRC()BB()MA * Level3: ()DP()LRC()BB()MA * Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 174 * Profit Target2(psy): 173.50 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 176.31 * Exit2: * Exit3: * Exit4: * Exit5:

**What was the result of the trade, what happened? This was a failed trade. The market was gapping up at the time of entry. I took an ORBD trade at 175.22 with 100 shares when the price action broke the premarket low and ORL with above average volume and momentum. The price action did break the LRC in a downward fashion and the Bollinger Bands in a downward fashion. I set the break 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 even though it should have been a 1.50. I had a daily pivot at 173.35 and 171.39. The price action made a new LOD and then quickly reversed stopping me out at my technical stop.

*FEELINGS- Describe what you thought and felt during the trade? I felt fine during the trade and was ready and was focused on executing my setup.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: the price action broke the premarket low and ORL with no resistance towards profit targets. Bad: the price action made a new LOD then quickly reversed, and I was stopped out at my technical stop.

*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)? The setup was appropriate to execute but I should have started with a smaller share size since the market was still picking a direction at the market open.

*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 take a smaller share size during the first 15 minutes of the trading session then scale up shares as appropriate.

*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