META Trade on Jun 23, 2023 09:44 from The_Trading_Apprentice: Tradervue User Stock Trades.

Description:

Trade#: 1. Strategy: Continuation. The market was gapping down at the time of entry. I went short 25 shares $META @ 279.28 when the price action took out the ORL and PML. Volume was falling. I set taking out the ORL with confirmation as my technical stop and a 2.00 hard stop. The price action was below the LRC and above the BBs. I had levels at 276.57 (DP) and 275.52 (LRC). I had significant areas of liquidity on Bookmap at 279.00 and 278.00. I set my 1st profit target at 1.00 below average cost (278.28).

*What was the result of the trade, what happened? This was a losing trade. The price action gapped down making a new LOD before reversing. I was stopped out when the price action hit my hard stop.

*FEELINGS- Describe what you thought and felt during the trade? Feeling ready for the trading session.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORL and PML. Bad: The price action did not hit my profit target and reversed before stopping me out.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes, I followed the rules, but the trade failed.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? Even though the trade failed I followed my risk management rules and respected my stops.

*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