META Trade on Jan 23, 2023 09:35 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 1
Set#: 5-minute ORBU_02_04
Ticker: META
Strategy: (X)ORBU ()ORBD ()HODB ()LODB
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2
Position Size: 25
Entry: 140.24
Technical Stop: Opening range high
Hard Stop: 139.24
LRC Break (after 10:00 am): ()Yes ()No ()In Between
Bollinger Bands Break (after 10:00 am): ()Yes ()No ()In Between
Target1: 141 ()DP()LRC()BB()MA(X)PSY | Target2: 141.50 ()DP()LRC()BB()MA(X)PSY | Target3: 142.39 (X)DP()LRC()BB()MA(X)PSY | Target4: ()DP()LRC()BB()MA()PSY
Exit1: 139.81 Exit2: Exit3: Exit4:

**What was the result of the trade, what happened? Loss. Market was gapping up. Price action broke the opening range and premarket high with no congestion of moving averages, so I entered a trade at 140.24 with 25 shares. My profit targets were 141.00, 141.50, and 142.00. I had a daily pivot of 142.30. The daily 200SMA was at 154.511. The price action pulled back to below the opening range high, and I exited my position. I did not reenter a trade on $META for the rest of the trading session.

*FEELINGS- Describe what you thought and felt during the trade? Rest and ready. I felt my exit was appropriate to keep my loss small and possibly reenter if an opportunity presented.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Market gapping up. Price action broke opening range and premarket high. No congestions of moving average. Daily 200SMA far from profit target. Bad: Price action reversed and hit my stop.

*ANALYSIS- Does the trade make sense to you now that it is over? Yes.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? The trade fail once it hit my stop. There was an opportunity to renter, but I decided to move on to a different ticker.

*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 keep my losses small especially during the 1st half hour of the trading session.

*TRADE MANAGEMENT: Strategy (X)Go ()No Go | Risk Identified (X)Go ()No Go | Profit Targets (X)Go ()No Go

*TRADE EXECUTION: Entry (X)Go ()No Go | Profit Targets/Stop Respected (X)Go ()No Go