NVDA Trade on May 1, 2023 14:17 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 3
Ticker: NVDA
$SPY Condition: Gapping down
Strategy: Reversal
Price@LRC: Below
Price@BBs: Below
Bookmap large areas of liquidity: 284.00
5-Minute ATR: 1.50
Beginning Position Size: 50
Avgcost: 288.97
Technical Stop: 9EMA
Hard Stop: 290.47
Level1: 284.12 (LRC)
Level2: 281.10 (DP)
Level3:
1st Profit Target: 287.50
Profit Taking:
Shares Added:
Exit: 289.07
Trading Errors:

*What was the result of the trade, what happened? This was a breakeven trade. The market was gapping down at the time of entry. I took a reversal trade at 288.97 with 50 shares when the price action revered below the 9EMA after 4 constructive green candles. I set taking out the 9EMA 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 below the LRC and below the BBs. I had levels at 284.12 (LRC) and 281.10 (DP). I set my 1st profit target at 287.50 with an ultimate target at VWAP. The price action did not reach my 1st profit target and reversed. I saw strong upward momentum, so I exited my position at near breakeven.

*FEELINGS- Describe what you thought and felt during the trade? Frustrated that I could not reach my 1st profit target.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action reversed with strong momentum and was below the LRC and BBs. Bad: The price action did not reach my profit target and reversed.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes. I had good indication for a reversal trade, but the trade failed.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? Again, $NVDA strong all day parabolic move to the upside meant that there was little opportunity for a reversal 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? Continue to take the setup and practice excellent 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