MSFT Trade on Apr 28, 2023 10:34 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 1
Ticker: MSFT
$SPY Condition: Gapping down
Strategy: MSFT
Price@LRC: Below
Price@BBs: Below
Bookmap areas: 307.60
5-Minute ATR: 1.00
Beginning Position Size: 50
Avgcost: 308.01
Technical Stop: 309.01
Hard Stop: 309.01
Level1: 305.02 (DP)
Level2: 303.71 (LRC)
Level3: 303.15 (BBs)
1st Profit Target: VWAP
Profit Taking: 306.50 (3/4)
Shares Added: 0
Exit: 305.55 (scaled out)
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 reversal trade at 308.01 with 50 shares when the price action reversed on the 5-minute chart with average volume but with stopping volume on the previous green Doji candle. I set the hard stop at 1.00 based on the ATR of the 5-minute candle prior to entry. The price action was below the LRC and BBs. I had levels at 305.05 (DP), 303.71 (LRC), and 303.15 (BBs). I set my 1st profit target at VWAP. The price action gapped down and I took a 2/3 partial at 306.50 just below VWAP. The price action bounced off the PCL, PMH, and large area of liquidity on Bookmap at around 305.00 so I scaled the rest of my position at 305.55.

*FEELINGS- Describe what you thought and felt during the trade? Feeling rested and patient with my trades.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action reversed and fell below the upper LRC and BBs. Bad: The price action bounced off key support levels and 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 feel really good with my trade execution and management.

*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 ()Go (X)No Go * Profit Targets Set (X)Go ()No Go

*TRADE EXECUTION: Entry (X)Go ()No Go * Profit Targets/Stop Respected (X)Go ()No Go