NVDA Trade on Jun 21, 2023 10:12 from The_Trading_Apprentice: Tradervue User Stock Trades.

Description:

Trade#: 2. Ticker: NVDA. The market was gapping up at the time of entry. I took a reversal trade to VWAP at 426.92 with 23 shares when the price action made a reversal candle (hammer) and gapped up. I set taking out the LOD with confirmation as my technical stop and a 2.00 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 430.00 (DP) and 433.06 (LRC). I set my 1st profit target at 428.00.

*FEELINGS- Describe what you thought and felt during the trade? Frustrated with my execution.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action made strong reversal moves after falling for some time. Bad: There was not enough between entry and 9AMA for profit taking. Traded during Fed Chair speech. I went beyond a $2.00 stop ($4.14).

*ANALYSIS- Does the trade make sense to you now that it is over? No. The indicators did not support a reversal at the time. Also, the price action did not reach its full daily ATR of 14.38.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? This was not a good setup based on the rules of the reversal strategy and I went beyond my maximum hard stop.

*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 ensure that I only execute a setup if it meets my trade indicators.

*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 ()Go (X)No Go