NVDA Trade on Mar 22, 2023 11:33 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION
Trade#: 3
Ticker: NVDA
Strategy: ()ORBU (X)HODB ()ORBD ()LODB ()Reversal ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 (X)1.50 ()2 ()2.50
Beginning Position Size: 50
Entry (AvgCost): 270.58
Technical Stop: 9EMA
Hard Stop: 272.08
LRC Break: 271.75
Bollinger Bands Break: Did not record
Level1: 275.58 (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: 271.00 * Exit2: 270.46 * Exit3: * Exit4: * Exit5:

*What was the result of the trade, what happened? This was a profitable trade. The market was gapping up at the time of entry. I took a HODB trade at 270.58 with 50 shares when the price action broke the HOD with confirmation and above average 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 1.50 hard stop based on the ATR of the 5-minute candle prior to entry. I had a daily pivot at 275.58. I set profit targets at _271.00 and 270.46. The price action reversed on falling volume and consolidated along the 9EMA and eventually gapping up one more time and I took a 2/3 partial at 271.00. I then set my stop to breakeven where I was eventually stopped out.

*FEELINGS- Describe what you thought and felt during the trade? Not satisfied with my trade management.

*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 and above average volume. Bad: The price action reversed on falling volume and consolidated along the 9EMA.

*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 needed to pay more attention to the volume in relation to the price action since the high volume did not provide sufficient momentum for the price action to gap up. This was more of a scalp.

*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 stay after from momentum trades if there is not enough evidence of above average volume with momentum to push the price action towards 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