SQ Trade on Mar 23, 2023 13:02 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION
Trade#: 5
Ticker: SQ
Strategy: ()ORBU ()HODB ()ORBD ()LODB (X)Reversal ()After Hours
Market Condition: ()Gapping Up ()Gapping Down (X)Consolidating
5-Minute ATR: ().50 (X)1 ()1.50 ()2 ()2.50
Beginning Position Size: 100
Entry (AvgCost): 62.78
Technical Stop: 9EMA
Hard Stop: 63.98
LRC Break: 57.88
Bollinger Bands Break: 59.71
Level1: 56.50 (52-week low) ()DP ()MA * Level2: ()DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1(psy): VWAP * Profit Target2(psy): 60.00 * Profit Target3(psy): 59.00 * Profit Target4(psy):
Exit1: 62.18 * Exit2: 63.01 * Exit3: * Exit4: * Exit5:

*What was the result of the trade, what happened? This was a profitable trade. The market was consolidating at the time of entry. I took a reversal trade at 62.98 with 100 shares when the price action reversed but my enter was very extended from the reversal point. The LRC was at 57.88 and the Bollinger Bands was at 59.71. I set the break of the 9EMA with confirmation as my technical stop and a 1 hard stop based on the ATR of the 5-minute candle prior to entry. I had a daily pivot at 56.50 which was the 52-week low. I set profit targets at VWAP. The price action pulled back and I decided to test the 50SMA which it never broke and then continued its path downward. I took a 1/2 partial at 62.18 and set my stop to breakeven which is were I was stopped out.

*FEELINGS- Describe what you thought and felt during the trade? Felt I could have made a better decision on this trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action was gapping down. Bad: I entered this trade way too extended.

*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)? I entered this trade way too extended from the point the price action made a new HOD them reversed. I could have set my stop there and entered much earlier for a better risk to reward.

*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? Follow the reversal strategy as laid out.

*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