META Trade on Mar 21, 2023 11:24 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 3
Ticker: META
Strategy: ()ORBU ()HODB ()ORBD (X)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): 199.94
Technical Stop: 9EMA
Hard Stop: 200.49
LRC Break: 197.16
Bollinger Bands Break: 198.75
Level1: 197.16 ()DP ()MA * Level2: ()DP ()MA * Level3: ()DP) ()MA * Level4: ()DP ()MA
Profit Target1(psy): 198.50 * Profit Target2(psy): 198.00 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 199.61 * Exit2: * Exit3: * Exit4: * Exit5:

**What was the result of the trade, what happened? The market was gapping down at the time of entry. I took an LODB trade at 199.94 with 100 shares when the price action broke the LOD with average volume. The LRC was at 197.16 and the Bollinger Bands was at 198.75. I set the break of the 9EMA 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 daily pivot at 197.16. I set profit targets at 198.50 and 198.00. The price action started to consolidate soon after entry and eventually hit my price target of 198.50 but I did not take profit believing it would drop further. The price action eventually reversed stopping me out at my technical stop with confirmation.

*FEELINGS- Describe what you thought and felt during the trade? Not happy with my execution and trade management.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good. The market and price action was gapping down and broke LOD. Bad: I did not take profit at the profit target I had set. The price made a new LOD then reversed eventually stopping me out at my technical stop with confirmation. Falling volume did not support taking this trade.

*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 state of confusion on my last trade set the stage for a lack of trade management on this trade and I left profits on the table due to greed.

*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 take time to reset after a technical error trade.

*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