META Trade on Mar 21, 2023 12:32 from The_Trading_Apprentice: Tradervue User Stock Trades.

*DESCRIPTION
Trade#: 4
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): 198.37
Technical Stop: 9EMA
Hard Stop: 199.37
LRC Break: 197.14
Bollinger Bands Break: 198.86
Level1: 197.16 ()DP ()MA * Level2: ()DP ()MA * Level3: ()DP) ()MA * Level4: ()DP ()MA
Profit Target1(psy): 198.00 * Profit Target2(psy): 197.50 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 199.42 * Exit2: * Exit3: * Exit4: * Exit5:

**What was the result of the trade, what happened? The market was consolidating at the time of entry. I took an LODB trade at 198.37 with 100 shares when the price action broke the LOD with average volume. The LRC was at 197.14 and the Bollinger Bands was at 198.86. 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 198.00 and 197.50. The price action started to consolidate soon after entry and eventually presented a hammer candle with strong volume as a signal for a possible reversal. I did not pay attention to it and allowed the price action to break my technical stop with confirmation which stopped me out.

*FEELINGS- Describe what you thought and felt during the trade? Feeling frustrated with the lack of follow through on my trades and not paying attention to volume 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 LOD with strong volume. Bad: I didn't recognize several signals that the price action was being stopped from falling further and was about to reverse.

*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 that I should have either not taken because the market was consolidating at the time, or I should have exited the trade and reversed my position based on the signals of the volume price action being presented to me.

*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 read volume price action to make determinations on trades.

*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
2023-03-21 12:32:37 META sell $198.370 short
2023-03-21 13:03:30 META buy $199.420 0


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