KMX Trade on Apr 11, 2023 10:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 1
Ticker: KMX
Market Condition: (X)Gapping Up
Strategy: (X)ORBU
5-Minute ATR: (X)1.00
Beginning Position Size: 50
Avgcost: 70.53
Technical Stop: ORH/9EMA
Hard Stop: 69.53
LRC Level: 70.54
Bollinger Bands Level: 70.51
Level1: 71.09 (X)DP ()MA * Level2: 73.00 (X)DP ()MA
Profit Target1: 1.00 above Avgcost * Profit Target2: 1.25 above Avgcost * Profit Target3: 73.00
Profit Taking: (X)2/

Profit Taking: (X)1/
Shares added: (X)
Profit Taking: (X)stopped

*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 ORBU trade at 70.53 with 50 shares when the price action took out the ORH with above average volume. I set taking out the ORH with confirmation as my technical stop and a 69.53 hard stop based on the ATR of the 5-minute candle prior to entry. The LRC was at 70.54 and the Bollinger Bands was at 70.51. I had a daily pivot at 71.09 and 73.00. I set profit targets at 1.00 and 1.25 above Avgcost and 73.00. The price action gapped up and I took a 2/3 partial at 71.53 then set to breakeven. I then took a 1/2 partial at 72.02. I added 100 shares at 72.17 when the price action pulled back towards the 9EMA and set to breakeven. I exited my position when the price action lost the 9EMA with confirmation.

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

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: $KMX reported earnings beat. The price action broke the ORH with momentum and above average volume. Bad: The premarket high was in the way of profit target. I added shares too extended from 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)? It was a good ORB trade, but eventually lost momentum and I added shares too extended from the 9EMA. I traded into the premarket high acting as resistance.

*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 ()Go (X)No Go * Profit Targets/Stop Respected (X)Go ()No Go