AMZN Trade on Feb 3, 2023 13:42 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 3
Set#: 5-minute ORBD_02_06
Ticker: AMZN
Strategy: ()ORBU (X)ORBD ()HODB ()LODB
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2
Position Size: 25
Entry: 104.48
Technical Stop: ORL
Hard Stop: 105.48
LRC Break (after 10:00 am): ()Yes (X)No ()In Between
Bollinger Bands Break (after 10:00 am): ()Yes ()No (X)In Between
Target1: 103.50 ()DP()LRC()BB()MA(X)PSY | Target2: 103.00 ()DP()LRC()BB()MA(X)PSY | Target3: 102.50 ()DP()LRC()BB()MA(X)PSY | Target4: ()DP()LRC()BB()MA()PSY
Exit1: 104.72 Exit2: Exit3: Exit4:

**What was the result of the trade, what happened? Loss. The market was gapping down. I took a trade at 104.48 with 25 shares when price action broke the premarket and opening range low for the first time during the market session. I set profit targets at 103.50. 103.00, and 102.50. I have daily pivots at 103.79 and 102.41. The LRC was at 103.13. Price action didn't reach my first profit target and reversed. The market also reversed and gapped up strongly, so I decided to remove my trade since the trading session was heading into the final hours.

*FEELINGS- Describe what you thought and felt during the trade? I was ok with this trade not working.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The market was still gapping down. Price action broke the premarket and opening range low. Bad: Price action missed my first target making a new LOD before reversing.

*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)? It was a good setup that failed. I could have allowed the trade to move past my technical stop since price action did not hit my hard stop before reversing again to the downside. But I'm satisfied that I pulled out of the trade since I had a very good trade on $META.

*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 | 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