MSFT Trade on Mar 22, 2023 16:04 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION
Trade#: 4
Ticker: MSFT
Strategy: ()ORBU ()HODB ()ORBD ()LODB (X)Reversal ()After Hours
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
5-Minute ATR: ().50 ()1 ()1.50 (X)2 ()2.50
Beginning Position Size: 50
Entry (AvgCost): 275.98
Technical Stop: VWAP
Hard Stop: 278.98
LRC Break: 272.47
Bollinger Bands Break: 274.01
Level1: 272.38 (X)DP ()MA * Level2: ()DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1(psy): 275.00 * Profit Target2(psy): 274.50 * Profit Target3(psy): * Profit Target4(psy):
Exit1: 275.00 * Exit2: 276.04 * Exit3: * Exit4: * Exit5:

*What was the result of the trade, what happened? This was a profitable trade. The market was gapping down at the time of entry. I took a reversal trade at 275.98 with 50 shares when the price action broke VWAP with slightly above average volume. The LRC was at 272.47 and the Bollinger Bands was at 274.01. I set the loss of VWAP with confirmation as my technical stop and a 2.00 hard stop based on the ATR of the 5-minute candle prior to entry. I had a daily pivot at 272.38. I set profit targets at 275.00 and 274.50. The price action continues to gap down, and I took a 2/3 partial at 275.00. I saw volume start falling and broke above the 5-minute 100SMA so I decided to exit my trade.

*FEELINGS- Describe what you thought and felt during the trade? I felt fine.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The market was gapping down and the price action broke VWAP. Bad: I did not have 4 green candles to confirm a reversal setup and the entry was very extended from the point of the start of the reversal. The price action made a new LOD and reversed.

*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)? Today was a difficult day to trade since there was FOMC announcement and Fed Chairman speech.

*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 practice excellent risk management.

*TRADE MANAGEMENT: Strategy ()Go (X)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