NVDA Trade on Mar 22, 2023 11:08 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION
Trade#: 2
Ticker: NVDA
Strategy: ()ORBU (X)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: 50
Entry (AvgCost): 269.98
Technical Stop: 9EMA
Hard Stop: 267.98
LRC Break: 271.75
Bollinger Bands Break: Not recorded
Level1: 275.88 (X)DP ()MA * Level2: ()DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1(psy): 271.00 * Profit Target2(psy): 271.50 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 268.37 * 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 a HODB trade at 269.98 with 50 shares when the price action broke the HOD with confirmation and high volume. The LRC was at 271.75 and the Bollinger Bands was not recorded. I set the loss of the 9EMA 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 275.88. I set profit targets at 271.00 and 271.50. The price action and volume gapped down after entry and touched the 9EMA without breaking it but I still exited my position.

*FEELINGS- Describe what you thought and felt during the trade? I was thinking that I did not want to lose on this trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the HOD with confirmation. Bad: The price action and volume gapped down after entry. I did not allow the break of the technical stop to be confirmed.

*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)? This was a continuation trade that would have worked if I didn't stop out at breakeven in Trade1. The feeling of not accepting loss set in when I saw the volume declining but I could have allowed the price action to confirm the break of the 9EMA before stopping out. The price action moved up one more time before reversing and consolidating.

*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 accept the risk I set before the trade and allow my technical stops to confirm before stopping out.

*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 ()Go (X)No Go