NVDA Trade on Apr 14, 2023 14:25 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 2
Ticker: NVDA
Market Condition: Gapping down
Strategy: LODB
5-Minute ATR: 1.00
Beginning Position Size: 50
Avgcost: 262.92
Technical Stop: 9EMA
Hard Stop: 263.92
LRC Level: 261.79
Bollinger Bands Level: 262.27
Level1: 258.50(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 down at the time of entry. I took a LODB trade at 262.92 with 50 shares when the price action took out the premarket low with average volume. I did not confirmation the break of LOD before entering the trade. I set taking out the 0EMA with confirmation as my technical stop and a 258.50 hard stop based on the ATR of the 5-minute candle prior to entry. The LRC was at 261.79 and the Bollinger Bands was at 262.27. I had a daily pivot at 258.50. I set profit targets at 1.00 and 1.25 above Avgcost. The price action made a new LOD then quickly reversed and gapped up with strong momentum and above average volume. The price action hot my hard stop and I was stopped out at 263.95.

*FEELINGS- Describe what you thought and felt during the trade? I was surprised how quickly the market reversed to the upside with strong momentum.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the premarket low. Bad: I did not confirm the break of LOD.

*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 had signals from the LRC and Bookmap that this trade was going to fail and reverse, but I was not able to act swiftly enough to respond to the information the chart was presenting me.

*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 follow all the rules of my trade book and exit any trades where I did not follow the rules.

*TRADE MANAGEMENT: Strategy ()Go (X)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