GIS Trade on Jun 28, 2023 07:42 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 in premarket 100 shares $WBA at 75.90 (avgcost) as a continuation play on earnings miss and lower profit forecast. Volume was rising. I set taking out the VWAP with confirmation as my technical stop and a 1.00 hard stop. The price action was below the LRC and below the BBs. I had a level at 74.42. I had significant area of liquidity on Bookmap at 74.00. I set my 1st profit target at 1.00 below avgcost.

*What was the result of the trade, what happened? This was a losing trade. Price action failed to hit my 1st profit target of 1.00 below avgcost and chopped around in range for most of the session. My broker scaled most of my shares before the closing bell and I scaled out the rest of my shares when the bell rang in an attempt to reduce the amount of loss on this trade.

*FEELINGS- Describe what you thought and felt during the trade? Feeling frustrated that I broke my rule of not trading premarket earnings unless I am present for the announcement candle. This was the 2nd day in a row that I committed this trading error.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action was continuing its downward trend after reporting earnings miss and lower profit forecast. Bad: I executed an earnings trade premarket without being present for the announcement candle. The price action consolidated for most of the session and stayed along range between the 9/20EMAs and 50SMA. I moved my hard stop.

*ANALYSIS- Does the trade make sense to you now that it is over? No. Entering the trade premarket did not provide any real advantage over waiting for the 5-minute opening range to print.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? The price action made most of its move after earnings was announced and basically stayed in consolidation for most the trading session.

*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? Avoid trading earnings premarket unless I am present to catch the announcement candle.

*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