JPM Trade on Mar 15, 2023 10:50 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#:3
Set#: Trading Error:supporttoprofit_Set01_08
Ticker: JPM
Strategy: ()ORBU ()HODB (X)ORBD ()LODB ()Reversal ()After Hours
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2 ()2.50
Beginning Position Size: 100
Entry (AvgCost): 129.17
Technical Stop: ORL
Hard Stop: 130.17
LRC Break: ()Yes (up/down) ()No (X)In Between
Bollinger Bands Break: (X)Yes (down) ()No ()In Between
Level1: 128.51 ()DP(X)LRC()BB()MA * Level2: 127.40(X)DP()LRC()BB()MA * Level3: ()DP()LRC()BB()MA * Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 128.00 * Profit Target2(psy): 127.50 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 130.18 * Exit2: * Exit3: * Exit4: * Exit5:

**What was the result of the trade, what happened? This was a failed trade. The market was gapping down at the time of entry. I took an ORBD trade at 129.17 with 100 shares when the price action broke the premarket low and ORL. The volume was average. The price action was in between the LRC in an upward fashion and broke the Bollinger bands in a downward fashion. I set the brake of the ORL with confirmation as my technical stop and a 1.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had a LRC level at 128.51 and a daily pivot at 127.40. I set my profit targets at 128.00 and 127.50. The price action quickly made a new LOD then reversed eventually stopping me at my hard stop.

*FEELINGS- Describe what you thought and felt during the trade? Frustrated with the overall market's price action.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORL and premarket low. Bad: The price action made a new LOD then reversed eventually 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)? Even though the price action took out the premarket low, it was too close to the technical stop. I will test the premarket level as a technical stop in the near future.

*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 watch for levels in the way of profit targets.

*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