MSFT Trade on Apr 19, 2023 10:36 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: 286.98
Technical Stop: Low of previous candle
Hard Stop: 285.98
LRC Level: 287.1
Bollinger Bands Level: 284.87
Level1: 290.45 (DP)
Bookmap Area of High Liquidity: 285.00
1st Profit Target: AC +25 Sell .50
Profit Taking: 286.98 (stopped out)

*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 286.98 with 50 shares when the price action took out the ORH with above average volume. I set taking out the low of the previous candle with confirmation as my technical stop and a 1.00 hard stop based on the ATR of the 5-minute candle prior to entry. The LRC was at 286.98 and the Bollinger Bands was at 284.87. I had a daily pivot at 290.45. I set my 1st profit target at AC +25 Sell .50. The price action quickly reversed against my position, and I moved my stop in hope that the price action would not gap below the low of the previous candle and the premarket low. I was proven wrong and was stopped out at 286.98.

*FEELINGS- Describe what you thought and felt during the trade? Frustrated with my execution out of the gate.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORH> Bad: I rushed into the trade without observing Bookmap or volume. The price action quickly reversed against my position. I moved my stop.

*ANALYSIS- Does the trade make sense to you now that it is over? No.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? Even though this trade failed, I made it worse by not having all of my trading tools available including Bookmap and moving my stop. I had a large area of liquidity on Bookmap at 285.00 where the price action bounced and gapped to a high of around 289.00.

*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 write out all of my rules that I will follow without hesitation and post nearby where I can read through every morning before the market opens.

*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