*DESCRIPTION
Trade#: 6
Ticker: GME
Strategy: ()ORBU ()HODB ()ORBD ()LODB ()Reversal (X)After Hours
Market Condition: ()Gapping Up ()Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 ()2 ()2.50
Beginning Position Size: 100
Entry (AvgCost): 23.85
Technical Stop:
Hard Stop: 22.85
LRC Break: ()Yes (up/down) ()No ()In Between
Bollinger Bands Break: ()Yes (up/down) ()No ()In Between
Level1: ()DP()LRC()BB()MA * Level2: ()DP()LRC()BB()MA * Level3: ()DP()LRC()BB()MA * Level4: ()DP()LRC()BB()MA
Profit Target1(psy): 25.00 * Profit Target2(psy): * Profit Target3(psy): * Profit Target4(psy):
Exit1: 23.71 * Exit2: * Exit3: * Exit4: * Exit5:
**What was the result of the trade, what happened? This was a losing trade. I took an after hours trade at 23.85 with 100 shares after $GME announced earnings and the price action broke the 5-minute high of the announcement candle. I had daily pivots at 27.02. I set profit targets at 25.00. The price action consolidated, and not pushing higher so I exited my position.
*FEELINGS- Describe what you thought and felt during the trade? Feeling tired and not looking forward to all of the journaling that would need to be completed since I took so many trades.
*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the 5-minute high of the announcement candle. Bad: The price action started to consolidate, and I was tired from the all day trading session 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)? It was a good setup with strong volume, but the price action could not push toward my profit target.
*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 when present 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 (X)Go ()No Go
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2023-03-21 17:12:06 | GME | buy | $23.850 | long |
2023-03-21 17:25:05 | GME | sell | $23.710 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!