MSFT Trade on Apr 25, 2023 11:47 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 3
Ticker: MSFT
$SPY Condition: Gapping up
Strategy: LODB
Price@LRC: Above
Price@BB: Level
Bookmap areas: 278.00
5-Minute ATR: .75
Beginning Position Size: 50
Avgcost: 278.56
Technical Stop: ORL
Hard Stop: 279.31
Level1: 276.76 (DP)
Level2: 277.74 (LRC)
Level3:
1st Profit Target: 278.00
Profit Taking: 278.00 (1/4), 277.50, 277.72
Shares Added:
Exit: 277.18 (scaled out)
Trading Error:

*What was the result of the trade, what happened? This was a profitable trade. $SPY was gapping up at the time of entry. I took a LODB trade at 278.56 with 50 shares when the price action took out the premarket low and LOD with above average volume. I set taking out the ORL with confirmation as my technical stop and a .75 hard stop based on the ATR of the 5-minute candle prior to entry. The price action was above the LRC and at level with BB. I had a daily pivot at 276.76 and a LRC level at 277.74. I set my 1st profit target at 278.00. The price action gapped down, and I took profits at 278.00 (1/4), 277.50, 277.72. I scaled the rest of my position at 277.18 when the price action bounced off a liquidity wall at 277.00 on Bookmap.

*FEELINGS- Describe what you thought and felt during the trade? I continued to feel confident with my trade execution.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action took out the premarket low and LOD with above average volume. Bad: The price action eventually made a new LOD then reversed.

*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 to execute and I was able 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? Continue to take the setup and practice excellent risk management.

*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