AMAT Trade on Mar 21, 2023 13:11 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 5
Ticker: AMAR
Strategy: ()ORBU ()HODB ()ORBD ()LODB (X)Reversal ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: (X).50 ()1 ()1.50 ()2 ()2.50
Beginning Position Size: 100
Entry (AvgCost): 119.43
Technical Stop: LOD
Hard Stop: 118.93
LRC Break: 121.35
Bollinger Bands Break: 123.07
Level1: 131.20 (X)DP ()MA * Level2: ()DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1(psy): 121.00 * Profit Target2(psy): 121.50 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 119.44 * Exit2: * Exit3: * Exit4: * Exit5:

**What was the result of the trade, what happened? This was a near breakeven trade. The market was gapping up at the time of entry. I took a reversal trade at 119.43 with 100 shares when the price action reversed of the LOD. The LRC was at 121.35 and the Bollinger Bands was at 123.07. I set the loss of the LOD with confirmation as my technical stop and a .50 hard stop which was a little lower than the ATR of the 5-minute candle prior to entry. I had daily pivots at 131.20. I set my profit targets at 121.00 and 121.50. The price action moved upward but then started to consolidate above the 9EMA and did not have momentum to push toward my profit target, so I exited my position at near breakeven.

*FEELINGS- Describe what you thought and felt during the trade? Feeling I was revenge trading to make for loss.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Price action reversed after making a new LOD. Bad: The price action started to consolidate above the 9EMA but could not break the 50EMA.

*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 trade didn't work because of low volume and lack of momentum.

*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 and watch for levels in the way of profit targets.

*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

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Execution detail:

Date/time Symbol Side Price Position
2023-03-21 13:11:45 AMAT buy $119.430 long
2023-03-21 13:40:06 AMAT sell $119.440 0


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