FL Trade on Mar 21, 2023 11:01 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 1
Ticker: FL
Strategy: ()ORBU (X)HODB ()ORBD ()LODB ()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): 42.73
Technical Stop: ORH
Hard Stop: 41.73
LRC Break: 43.71
Bollinger Bands Break: 44.56
Level1: 43.64 (X)DP ()MA * Level2: ()DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1(psy): 43.50 * Profit Target2(psy): 44.00 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 42.63 * Exit2: * Exit3: * Exit4: * Exit5:

**What was the result of the trade, what happened? The market was gapping up at the time of entry. I took an HODB trade at 42.73 with 100 shares when the price action broke the HOD with falling volume. The LRC was at 43.71 and the Bollinger Bands was at 44.56. I set the loss of the ORH 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 daily pivots at 43.64. I set my profit targets at 43.50 and 44.00. The price action moved in an upward direction but only made it to a high of 42.93 before reversing. I was not comfortable with the sluggishness of the price action and falling volume, so I exited my position.

*FEELINGS- Describe what you thought and felt during the trade? Felt ready for the trading session.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? The price action broke HOD. Bad: I entered on falling volume which continued falling and the price action reversed so there was no momentum to push towards profit targets.

*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 traded into falling volume and the price action did not have the momentum it needed to get to profit targets.

*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 examining volume as part of the overall trading process.

*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