ORCL Trade on Jun 14, 2023 15:13 from The_Trading_Apprentice: Tradervue User Stock Trades.

Description:

Trade#: 3. Ticker: ORCL. The market was gapping down during the FOMC announcement at the time of entry. I took a reversal trade at 121.78 with 50 shares when the price action bounced several times off the HOD acting as resistance with volume rising on the 2-minute chart. I set taking out the HOD with confirmation as my technical stop and a 1.00 hard stop. The price action was below the LRC and above the BBs. I had levels at 117.51 (DP) and 119.00 (LRC). I had a weak area of liquidity on Bookmap at 120.00. I set my 1st profit target at 121.00.

*What was the result of the trade, what happened? This was a losing trade. The price action consolidated for the rest of the trading session and my broker removed 27 shares before the marker close. I scaled the rest of my shares at 122.29 when I saw that the price action would stay in consolidation.

*FEELINGS- Describe what you thought and felt during the trade? I felt I was revenge trading.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Not much. Bad: The risk:reward to VWAP was poor. I was revenge trading.

*ANALYSIS- Does the trade make sense to you now that it is over? Not at all.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? This was a revenge trade plain and simple.

*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 avoid trading during the FOMC announcement.

*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