MSFT Trade on Apr 19, 2023 10:55 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 2
Ticker: MSFT
Market Condition: Consolidating
Strategy: LODB
5-Minute ATR: 1.50
Beginning Position Size: 50
Avgcost: 284.54
Technical Stop: ORL
Hard Stop: 286.04
LRC Level: 274.37
Bollinger Bands Level: 272.78
Level1: 263.95 (DP)
1st Profit Target: AC +25 Buy .50
Profit Taking: 286.04 (stopped out)

*What was the result of the trade, what happened? This was a losing trade. The market was consolidating at the time of entry. I took a LODB trade at 284.54 with 50 shares when the price action took out the LOD with average volume. I set taking out the ORL with confirmation as my technical stop and a 1.50 hard stop based on the ATR of the 5-minute candle prior to entry. The LRC was at 274.37 and the Bollinger Bands was at 272.78. I had a daily pivot at 263.95. I set my 1st profit targets at AC +25 Buy .50. The price action immediately reversed against my position and went through my technical stop hitting my hard stop and stopping me out.

*FEELINGS- Describe what you thought and felt during the trade? Very frustrated with my execution on this 2nd $MSFT trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the LOD, but barely before I entered the trade. Bad: I was anticipating too much and entered too soon.

*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 was thinking about profits over process, and I did not execute a good trade.

*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 process and reduce the mental energy in my mental environment that makes me think about profit first over process.

*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 ()Go (X)No Go * Profit Targets/Stop Respected (X)Go ()No Go