MDB Trade on Mar 9, 2023 09:46 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 3
Set#: Trading Error:revengetrading_Set01_06 | Trading Error:technicalstopnotrespected_Set01_14
Ticker: MDB
Strategy: ()ORBU ()HODB ()ORBD ()LODB ()Reversal ()After Hours ()Revenge
Market Condition: (X)Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 ()2 ()2.50 (X)4.00
Beginning Position Size: 100
Entry: 215.16
Technical Stop: 9EMA with confirmation
Hard Stop: 211.16
LRC Break: (x)Yes(up) ()No ()In Between
Bollinger Bands Break: ()Yes ()No (X)In Between
Level1: 216.42 ()DP()LRC(X)BB()MA | Level2: 219.73 (X)DP()LRC()BB()MA | Level3: ()DP()LRC()BB()MA | Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 216.00 | Profit Target2(psy): 216.50 | Profit Target3(psy): | Profit Target4(psy):
Exit1: 213.00 | 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 a revenge trade at 215.16 with 100 shares when the price action gapped up with below average volume. The price action broke the LRC to the upside and was in-between the Bollinger Bands. I set the loss of the 9EMA with confirmation as my technical stop and a 4.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had a LRC level at 216.42 and a daily pivot 219.73. I set my profit targets at 216.00 and 216.50. The price action reversed, and I exited my position out of fear.

*FEELINGS- Describe what you thought and felt during the trade? Continued frustration and determined to make up loss based on fear and greed.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Not much. Bad: I continued to revenge trade and I did not respect my technical 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 emotions of fear and greed was gripping me, and I could not stop trading. Greed for the price action to continue so I can recover loses. Fear of losing so I exited my position without respecting my technical loss.

*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 stop trading when I have lost control of my ability to trade and walk away from my trading station.

*TRADE MANAGEMENT: Strategy ()Go (X)No Go | Max Risk Per Trade Identified ()Go (X)No Go | Profit Targets Set ()Go (X)No Go

*TRADE EXECUTION: Entry ()Go (X)No Go | Profit Targets/Stop Respected Without Fear ()Go (X)No Go