META Trade on Mar 15, 2023 10:43 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 2
Set#: 5-minute ORBD_03_02
Ticker: META
Strategy: (X)ORBU ()HODB ()ORBD ()LODB ()Reversal ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 (X)2 ()2.50
Beginning Position Size: 75
Entry (AvgCost): 194.98
Technical Stop: ORH
Hard Stop: 192.98
LRC Break: ()Yes (up/down) (X)No ()In Between
Bollinger Bands Break: ()Yes (up/down) ()No (X)In Between
Level1: 197.16(X)DP()LRC()BB()MA * Level2: ()DP()LRC()BB()MA * Level3: ()DP()LRC()BB()MA * Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 196.00 * Profit Target2(psy): 196.50 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 192.92 * 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 ORBU trade at 194.98 with 75 shares when the price action broke the premarket high and ORH. The volume was above average. The price action did not brake the LRC and was in between the Bollinger Bands. I set the brake at the loss of the ORH with confirmation as my technical stop and a 2.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had a daily pivot at 197.16. I set my profit targets at 196.00 and 196.50. The price action made a new HOD then reversed eventually stopping me out at my hard stop.

*FEELINGS- Describe what you thought and felt during the trade? Felt calm and ready but concerned with the market's volatile wicky choppy price action.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the premarket high and ORH with above average volume and momentum. Bad: The price action made a new HOD then reversed stopping me out.

*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)? It was a good setup to execute but eventually failed as the overall market was displaying volatile wicky choppy price action making it difficult for me to manage this trade.

*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?

*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