CAT Trade on Apr 27, 2023 13:34 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 3
Ticker: CAT
$SPY Condition: Gapping up
Strategy: HOBD
Price@LRC: Above
Price@BB: Above
Bookmap areas: 215.00
5-Minute ATR: .75
Beginning Position Size: 50
Avgcost: 212.73
Technical Stop: 9EMA
Hard Stop: 211.98
Level1: 216.12 (DP)
Level2: 215.17 (LRC)
Level3: 215.65 (BBs)
1st Profit Target: 214.00
Profit Taking: 214.00 (2/3)
Shares Added:
Exit: 212.71 (breakeven)
Trading Error:

*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 HODB trade at 212.73 with 50 shares when the price action took out the HOD with above average volume. I set taking out the 9EMA 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 above the BBs. I had levels at 216.12 (DP), 215.17 (LRC), and 215.65 (BBs). I set my 1st profit target at 214.00. The price action gapped up and I took a 2/3 partial at 214.00. I set my stop to breakeven where I was stopped out.

*FEELINGS- Describe what you thought and felt during the trade? I was having a great trading day.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action took out the HOD with above average volume. The price action was above the LRC and BBs. There was room for profit taking. Bad: The price action made a new HOD then reversed stopping me out 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)? This was a good breakout trade where 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 great 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