NVDA Trade on Apr 25, 2023 10:09 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 2
Ticker: NVDA
$SPY Condition: Gapping down
Strategy: LODB
Price@LRC: Below
Price@BB: Above
Bookmap areas: 267.00, 266.60
5-Minute ATR: 1.00
Beginning Position Size: 50
Avgcost: 267.57
Technical Stop: ORL
Hard Stop: 277.57
Level1: 263.95 (DP)
Level2: 265.95 (LRC)
Level3:
1st Profit Target:
Profit Taking: 266.40 (2/3)
Shares Added:
Exit: 267.58 (breakeven)
Trading Error:

*What was the result of the trade, what happened? This was a profitable trade. The market was gapping down at the time of entry. I took a LODB trade at 267.57 with 50 shares when the price action took out the premarket low with above average volume. I set taking out the ORL 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 price action was below the LRC and above the BB. I had a daily pivot at 263.95 and a LRC level at 265.95. The price action gapped down, and I took a 2/3 partial at 266.40 then I set my stop to breakeven. The price action made a new LOD and then reversed hitting my stop at breakeven.

*FEELINGS- Describe what you thought and felt during the trade? Continue to feel ready for market opportunities.

*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 with no major support levels in the way of taking profits. Bad: The price action made a new LOD and then reversed hitting my stop at breakeven.

*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)? The setup was good 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