NVDA Trade on May 1, 2023 09:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 1
Ticker: NVDA
$SPY Condition: Gapping up
Strategy: ORBU
Price@LRC: Above
Price@BBs: Above
Bookmap large areas of liquidity: 280.50, 281.00, 282.00, 283.000
5-Minute ATR: 1.00
Beginning Position Size: 50
Avgcost: 280.16
Technical Stop: ORL
Hard Stop: 279.16
Level1: 281.10 (DP-ATH)
Level2: 282.52 (LRC)
Level3: 281.03 (BBs)
1st Profit Target: 281.50
Profit Taking: 281.50 (2/3)
Shares Added:
Exit: 281.13 (scaled out)
Trading Errors: Did not respect breakeven or technical stop. Scaled out too early.

*What was the result of the trade, what happened? This was a profitable trade. The market was gaping at the time of entry. I took a ORBU trade at 280.16 with 50 shares when the price action took out the ORH with strong momentum and above 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 above the LRC and above the BBs. I had levels at 281.10 (DP-ATH), 282.52 (LRC), and 281.03 (BBs). I set my 1st profit target at 281.50. The price action gapped up strongly and I took a 2/3 partial at 281.50. The price action made a new HOD then reversed. I exited my position at 281.13.

*FEELINGS- Describe what you thought and felt during the trade? Feeling good with my execution and 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 HOD with strong momentum and above volume. The price action was above the LRC and BBs. I had large areas of liquidity levels on Bookmap to the upside. Bad: The price made a new HOD then reversed. I exited my position too early and did not allow the price action to test support levels which it bounced off before it continued its strong parabolic move above 290.00.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes. It could have been a much better trade for profit taking but I didn't allow the price action to test support levels when it pulled back.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? I am getting more comfortable taking ORBs but I need to work on letting the trade work.

*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 allow the price action to test support levels if it is above my technical stop.

*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 ()Go (X)No Go