MSFT Trade on Mar 27, 2023 10:38 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 1
Ticker: MSFT
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
Strategy: ()ORBU ()HODB (X)ORBD ()LODB ()Reversal ()After Hours
5-Minute ATR: ().50 (X)1 ()1.50 ()2 ()2.50
Beginning Position Size: 50
Avgcost: 278.81
Technical Stop: ORH
Hard Stop: 276.81
LRC Level: 275.42
Bollinger Bands Level: Not recorded
Level1: 276.76 ()DP ()MA * Level2: ()DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1: * Profit Target2: * Profit Target3: * Profit Target4:
Profit Taking: ()1/4@ ()1/2@ ()2/3@ (X)scaled

()stopped out@ * Shares added ()50 ()75 ()100 ()200@
Profit Taking: ()1/4@ ()1/2@ ()2/3@ ()scaled out@ ()stopped out@ * Shares added ()50 ()75 ()100 ()200@
Profit Taking: ()1/4@ ()1/2@ ()2/3@ ()scaled out@ ()stopped out@ * Shares added ()50 ()75 ()100 ()200@
Profit Taking: ()1/4@ ()1/2@ ()2/3@ ()scaled out@ ()stopped out@ * Shares added ()50 ()75 ()100 ()200@

*What was the result of the trade, what happened? This was a failed trade. The market was gapping down at the time of entry. I took a ORBD trade at 278.81 with 50 shares when the price action took out the ORH with average volume. I set taking out 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. The LRC was at 275.42 and the Bollinger Bands was not recorded. I had a daily pivot at 276.76. I set profit targets at 1.00 and 1.50 above Avgcost. The price action quickly reversed and took out the ORH with rising volume, so I exited my position.

*FEELINGS- Describe what you thought and felt during the trade? Feeling rested and ready.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action took out the ORH with average volume. The price action took out the ORH with rising volume.

*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)? Observing volume along with reading the charts is helping me to determine whether a trade will work or not.

*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 practice excellent risk management.

*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 (X)Go ()No Go