ORCL Trade on Jun 14, 2023 14:04 from The_Trading_Apprentice: Tradervue User Stock Trades.

Description:

Trade#: 2. Ticker: ORCL. The market was gapping down with strong volatility during the FOMC announcement at the time of entry. I took a reversal trade at 120.76 with 50 shares when the price action took out VWAP with volume rising on the 2-minute chart. I set taking out the VWAP with confirmation as my technical stop and a 1.50 hard stop. The price action was below the LRC and above the BBs. I had a level at 117.51 (DP). I had weak area of liquidity on Bookmap at 116.00. I set my 1st profit target at 119.76 and a final target at about the 100SMA on the 5-minute chart.

*What was the result of the trade, what happened? This was a losing trade. The price action gapped down then reversed taking out my technical and hard stop and stopping me out.

*FEELINGS- Describe what you thought and felt during the trade? Feeling I should have stayed out of this trade during the FOMC announcement and feeling disappointment that I gave back my morning profits.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Strong reversal candle. Bad: I did not follow the reversal strategy since the final target on reversals is VWAP and the price action had already gone through VWAP.

*ANALYSIS- Does the trade make sense to you now that it is over? No. My execution did not follow the reversal strategy.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? I entered this trade without much thought.

*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 not trade during the FOMC announcement since the market becomes too volatile for me to trade.

*TRADE MANAGEMENT: Strategy ()Go (X)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