KMX Trade on Apr 11, 2023 11:56 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 2
Ticker: KMX
Market Condition: (X)Gapping Up
Strategy: (X)Reversal
5-Minute ATR: (X)1.00
Beginning Position Size: 100
Avgcost: 71.30
Technical Stop: ORH
Hard Stop: 70.30
LRC Level: 71.66
Bollinger Bands Level: 71.25
Level1: 73.00 (X)DP
Profit Target1: 72.00 * Profit Target2: 72.50 * Profit Target3: 73.00
Profit Taking: (X)1/

*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 reversal trade at 71.30 with 100 shares when the price action reversed and broke through VWAP and moving averages. There was also a large ask order 72.00 with 863 lots. I set taking out the ORH with confirmation as my technical stop and a 70.30 hard stop based on the ATR of the 5-minute candle prior to entry. The LRC was at 71.66 and the Bollinger Bands was at 71.25. I had a daily pivot at 73.00. I set profit targets at 72.00, 72.50, 73.00. The price action gapped up and I took 1/2 partial at 72.00 then set my stop to breakeven. The price action continued to gap out and I partial the rest of my shares at 73.00.

*FEELINGS- Describe what you thought and felt during the trade? Continued to be focused on executing setups.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action reversed and broke VWAP and the 9EMA. There was also a large ask order 72.00 with 863 lots. Bad: I entered with the premarket high in the way of profit target.

*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)? The large order on the ask side acted as a magnet and pulled the price action toward my profit target.

*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