NVDA Trade on Apr 26, 2023 10:11 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 1
Ticker: NVDA
$SPY Condition: Consolidating
Strategy: ORBU
Price@LRC: Above
Price@BB: Level
Bookmap areas: 272.00, 273.00
5-Minute ATR: 1.50
Beginning Position Size: 50
Avgcost: 271.32
Technical Stop: ORH
Hard Stop: 269.82
Level1: 276.21 (DP)
Level2: 270.81 (LRC)
Level3: 272.03 (BBs)
1st Profit Target: 272.00
Profit Taking: 0.00
Shares Added: 0
Exit: 269.77
Trading Error: Price action at level with BB.

*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 ORBU trade at 271.32 with 50 shares when the price action took out the ORH with above average volume. I set taking out the ORH 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 price action was above the LRC and at level with the BBs. I had a daily pivot at 276.21, a LRC level at 270.81 and BBs level at 272.03. I set my 1st profit target at 272.00. The price action gapped up and made a new high then quickly reversed taking out the ORH and premarket high. I did not exit quickly enough at my technical stop, so I was stopped out at my hard stop.

*FEELINGS- Describe what you thought and felt during the trade? 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 took out the ORH with above average volume. Bad: I did not respect my technical stop when the price action made a new HOD and 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)? I saw that the price action was at level with the BBs at 272.03 and there was a liquidity wall on Bookmap at 272.00 which was providing resistance. I probably should have waited for the BBs to open up or not enter this 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 carefully watch the BBs and liquidity walls on Bookmark so that I do not trade into resistance.

*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