NVDA Trade on Mar 23, 2023 11:01 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION
Trade#: 1
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): 274.20
Technical Stop: ORH
Hard Stop: 272.70
LRC Break: 277.66
Bollinger Bands Break: 274.82
Level1: 275.58 (X)DP ()MA * Level2: 289.46 ()DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1(psy): 275.00 * Profit Target2(psy): 275.50 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 273.06 * Exit2: * Exit3: * Exit4: * Exit5:

*What was the result of the trade, what happened? This was a losing trade. The market was gapping up at the time of entry. I took a HODB trade at 274.20 with 50 shares when the price action broke the ORH with above average volume. The LRC was at 277.66 and the Bollinger Bands was at 274.82. I set the loss of the ORH 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 275.58 and 289.46. I set profit targets at275.00 and 275.50. The price action made a new HOD and quickly reversed. I didn't like the large wicks on the candles so I exited my position when the price action lost the ORH.

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

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORH with above average volume and momentum with no resistance towards profit targets. Bad: The price action made a new HOD and then reversed losing the ORH level which then I exited my position.

*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 execute the setup with rising volume, but wicked very quickly on strong selling pressure. The previous candles prior to entry showed this same choppiness in the form of large candle wicks. This can be a signal in the future not to take an ORB in the presence of choppy price action.

*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 pause before taking an ORB trade if there is choppy price action prior to entry.

*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