MSFT Trade on Mar 27, 2023 12:00 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 3
Ticker: MSFT
Market Condition: ()Gapping Up (X)Gapping Down ()Consolidating
Strategy: ()ORBU ()HODB ()ORBD (X)LODB ()Reversal ()After Hours
5-Minute ATR: ().50 (X)1.00 ()1.50 ()2 ()2.50
Beginning Position Size: 50
Avgcost: 278.10
Technical Stop: 9EMA
Hard Stop: 279.10
LRC Level: 275.49
Bollinger Bands Level: 276.93
Level1: 276.76 (X)DP ()MA * Level2: 272.38 (X)DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1: 277.00 * Profit Target2: 276.00 * Profit Target3: * Profit Target4:
Profit Taking: ()1/4@ ()1/2@ (X)2/

()scaled out@ ()stopped out@ * Shares added (X)50 ()75 ()100 ()
Profit Taking: ()1/4@ (X)1/ ()2/3@ ()scaled out@ ()stopped out@ * Shares added ()50 ()75 ()100 ()200@
Profit Taking: ()1/4@ (X)1/ ()2/3@ ()scaled out@ ()stopped out@ * Shares added ()50 ()75 ()100 ()200@
Profit Taking: ()1/4@ ()1/2@ ()2/3@ (X)scaled ()stopped out@ * Shares added ()50 ()75 ()100 ()200@

*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 LODB trade at 278.10 with 50 shares when the price action took out the LOD with above average volume. I set taking out 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. The LRC was at 275.49 and the Bollinger Bands was at 276.93. I had a daily pivot at 276.76 and 272.38. I set profit targets at 277.00 and 276.00. The price action continued its downward and I took a 2/3 partial at 277.86. I added 50 shares at 276.91 and set to breakeven. I took 1/2 partial at 276.00 and another 1/2 at 276.22. I scaled out the rest of my shares at 276.86.

*FEELINGS- Describe what you thought and felt during the trade? Feeling good 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 price action broke the LOD with above average momentum. Bad: The price action reversed and broke the 9EMA with confirmation.

*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 execution worked and I took profit.

*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 (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 (X)Go ()No Go