META Trade on Apr 13, 2023 10:38 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 1
Ticker: META
Market Condition: Gapping Up
Strategy: ORBU
5-Minute ATR: 1.50
Beginning Position Size: 75
Avgcost: 218.71
Technical Stop: ORH
Hard Stop: 217.21
LRC Level: 218.69
Bollinger Bands Level: 217.18
Level1: 224.30 (DP)
Profit Target1: 1.00 above Avgcost * Profit Target2: 1.25 above Avgcost
Profit Taking: 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 an ORBU trade at 218.71 with 75 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 217.21 hard stop based on the ATR of the 5-minute candle prior to entry. The LRC was at 218.69 and the Bollinger Bands was at 217.18. I had a daily pivot at 224.30. I set profit targets at 1.00 and 1.25 above Avgcost. The price action quickly made a new HOD then reversed. I was not comfortable with how the price action become choppy and wicky, so I exited my position.

*FEELINGS- Describe what you thought and felt during the trade? Felt a little tired but 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. No resistance in the way of profit targets. Price action broke the LRC at 218.9 and BB at 217.18. I had a daily pivot at 224.30. Bad: I entered extended from the break. The price action made a new HOD then reversed piercing the ORH but not confirming the loss. The candles become choppy and wicky in formation.

*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 could have taken some profits, but I exited my position too soon without allowing the technical stop to confirm.

*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 allow the stops to confirm before exiting my position and not allowing fear of losing to control the execution of my trade plan.

*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 ()Go (X)No Go