DKS Trade on Mar 7, 2023 09:52 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 3
Set#: Trading Error:technicalstopnotrespected_Set01_11
Ticker: DKS
Strategy: (X)ORBU ()ORBD ()HODB ()LODB ()After Hours
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 (X)1.50 ()2 ()2.50
Beginning Position Size: 100
Entry: 143.88
Technical Stop: Loss of support of ORH with confirmation
Hard Stop: 142.38
LRC Break: ()Yes (X)No ()In Between
Bollinger Bands Break: (X)Yes ()No ()In Between
Level1: 138.43 (X)DP()LRC()BB()MA | Level2: ()DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 145.00 | Profit Target2(psy): | Profit Target3(psy): | Profit Target4(psy):
Exit1: 143.16 | Exit2: | Exit3: | Exit4: | Exit5:

**What was the result of the trade, what happened? Loss. Market was gapping up at the time of entry. I took an ORBU trade at 143.88 with 100 shares when the price action broke the ORH with confirmation and above average volume and momentum. The price action did not break the LRC to the upside and was above the Bollinger Bands. I set the loss of the ORH confirmation as my technical stop and a 1.50 hard stop based on the ATR of the 5-minute candle prior to entry. The price action had already reached 52-week ATH and I set my profit target at 145.00 for a momentum trade. The price action became volatile and choppy, so I decided to exit my trade.

*FEELINGS- Describe what you thought and felt during the trade? Unsure about 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 ORH with volume and momentum. Bad: I was not comfortable with the price action, so I exited my position.

*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)? I'm glad I exited this trade since the next candle had a huge spike to the downside.

*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 Without Fear ()Go (x)No Go

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Execution detail:

Date/time Symbol Side Price Position
2023-03-07 09:52:33 DKS buy $143.880 long
2023-03-07 09:57:22 DKS sell $143.160 0


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