META Trade on Mar 21, 2023 11:22 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 2
Ticker: META
Strategy: ()ORBU ()HODB ()ORBD (X)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: 75
Entry (AvgCost): 199.83
Technical Stop: ORL
Hard Stop: 200.83
LRC Break: 197.27
Bollinger Bands Break: 198.75
Level1: 197.16 ()DP ()MA * Level2: ()DP ()MA * Level3: ()DP) ()MA * Level4: ()DP ()MA
Profit Target1(psy): not set due to direction of entry * Profit Target2(psy): * Profit Target3(psy): * Profit Target4(psy):
Exit1: 199.51 * Exit2: * Exit3: * Exit4: * Exit5:

**What was the result of the trade, what happened? The market was gapping down at the time of entry. I took an LODB trade at 199.83 with 75 shares when the price action broke the LOD with average volume. The LRC was at 197.27 and the Bollinger Bands was at 198.75. I set the break of the premarket low with confirmation as my technical stop and a 1.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had a daily pivot at 197.16. I did not enter profit targets when I realized that I entered in the wrong direction of the intended trade. I exited my position so the I could reenter correctly.

*FEELINGS- Describe what you thought and felt during the trade? Confused.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good. The market and price action was gapping down. Bad: I entered the trade in the wrong direction. Volume did not support a short trade.

*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 made a technical error which made me rushed to get out the position to reenter. Focusing on the error made me miss the overall picture of price and volume not in agreement for a short 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? I will slow down and be mindful of the trading environment including my hotkeys.

*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 ()Go (X)No Go * Profit Targets/Stop Respected Without Fear (X)Go ()No Go