CRM Trade on Mar 2, 2023 12:04 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION:
Trade#: 2
Set#: Trading Error:lowvolumeandmomentum_Set01_01 | Trading Error:supporttoprofit_Set01_04
Ticker: CRM
Strategy: ()ORBU ()ORBD ()HODB (X)LODB ()After Hours
Market Condition: ()Gapping Up ()Gapping Down (X)Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2
Beginning Position Size: 75
Entry: 186.02 (50 shares)/186.01 (25 shares)
Technical Stop: Break of the 9EMA with confirmation
Hard Stop: 187.02
LRC Break: (X)Yes ()No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 181.23 (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 185.00 | Profit Target2(psy): 184.50 | Profit Target3(psy): 184.00 | Profit Target4(psy):
Exit1: 186.6 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. Market was consolidating at the time of entry. I took a LODB trade at 186.02 and 186.01 with 75 shares total when the price action broke LOD with confirmation with low volume and not much momentum. I set the 9EMA as my technical stop and a 1.00 hard stop based on the ATR of the 5-minute candle prior to entry. The price action broke the LRC to the downside and was in-between the Bollinger Bands. I had a daily pivot of 181.23 and I set my profit targets at 185.00, 184.50, and 184.00. The price action made a new low at 185.20 and then reversed breaking through the 9EMA with confirmation and I exited my position at that point.

*FEELINGS- Describe what you thought and felt during the trade? Feeling regret taking this trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the LOD with confirmation. Bad: The price action reversed and broke through the 9EMA with confirmation stopping me out.

*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)? This was a trade I should have avoided since the market was consolidating and there was no momentum to push the stock downward toward my profit targets. I had the 5-minute 200SMA acting as support. Also, a hammer formed when the price action reversed, and I could have set my stop to breakeven instead of allowing the price action to move all the way up to the 9EMA.

*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 pay attention to volume and momentum in the market and stock I am considering trading before taking the setup. I will pay attention to candle formation as possible reversal signals and act accordingly.

*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 ()Go (X)No Go | Profit Targets/Stop Respected Without Fear (X)Go ()No Go