MSFT Trade on Apr 26, 2023 11:33 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 2
Ticker: MSFT
$SPY Condition: Gapping up
Strategy: ORBU
Price@LRC: Below
Price@BB: Below
Bookmap areas: 299.00, 300.00
5-Minute ATR: 1.00
Beginning Position Size: 50
Avgcost: 297.49
Technical Stop: ORH
Hard Stop: 296.49
Level1: 297.87 (DP-ATH)
Level2: 299.89 (LRC)
Level3: 307.30 (BBs)
1st Profit Target: 299.00
Profit Taking: 298.49
Shares Added:
Exit: 298.49 (scaled out)
Trading Error: I pressed my hotkey to close all open positions

*What was the result of the trade, what happened? This was a profitable trade. The market was gapping up at the time of entry. I took a ORBY trade at 297.49 with 50 shares when the price action took out the ORH with average volume. I set taking out the ORH 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 below the BBs. I had a daily pivot at 297.87, a LRC level at 299.89 and a BBs level at 307.30. I set my 1st profit target at 299.00. The price action gapped up but I had an issue with canceling my stop order and placing a profit target limit order. I pressed my hotkey to cancel all open position instead of my cancel all open orders which scaled me out completely.

*FEELINGS- Describe what you thought and felt during the trade? Again, frustrated with my trade management.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORH and I had room to take profit. Bad: The premarket high was in the way to a ultimate target of 300.00.

*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)? $MSFT was at ATH and was gapping up after earnings beat so I thought I would be able to reach a profit target of 300.00 with a 1st partial at 299.00. I was frustrated with my hotkey error, but I was able to reset and move on.

*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 trade but watch for resistance levels in the way of profit target.

*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