MSFT Trade on Apr 17, 2023 10:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 1
Ticker: MSFT
Market Condition: Gapping up
Strategy: ORBU
5-Minute ATR: 1.00
Beginning Position Size: 50
Avgcost: 290.89
Technical Stop: ORH
Hard Stop: 289.89
LRC Level: 292.12
Bollinger Bands Level: 291.43
Bookmap: High of liquidity at 292.00
Level1: 292.08 (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 at the time of entry. I took a ORBU trade at 290.89 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 289.89 hard stop based on the ATR of the 5-minute candle prior to entry. The LRC was at 292.12 and the Bollinger Bands was at 291.43. I had a daily pivot at 292.08. I set profit targets at 1.00 above Avgcost and 1.25 above Avgcost. The price action made a new HOD then reversed before reaching my profit target. I was not comfortable with how wicky and choppy the price action got on $SPY and $MSFT so I exited my position.

*FEELINGS- Describe what you thought and felt during the trade? Felt rested and 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 momentum and above average volume. Bad: The price action made a new HOD then reversed before reaching my 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)? It was a good setup but my first set profit target of 1.00 above Avgcost is too far from way for me to take profit.

*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 readjust my profit target to reach profit sooner than a 1.00 above Avgcost.

*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