AMD Trade on Mar 29, 2023 10:38 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 1
Ticker: AMD
Market Condition: ()Gapping Up ()Gapping Down (X)Consolidating
Strategy: ()ORBU ()HODB (X)ORBD ()LODB ()Reversal ()After Hours
5-Minute ATR: ().50 (X)1.00 ()1.50 ()2.00 ()2.50
Beginning Position Size: 50
Avgcost: 95.48
Technical Stop: 9EMA
Hard Stop: 96.48
LRC Level: 93.15
Bollinger Bands Level: 94.82
Level1: 93.67 (X)DP ()MA * Level2: ()DP ()MA * Level3: ()DP ()MA * Level4: ()DP ()MA
Profit Target1: .50 above Avgcost * Profit Target2: 1.00 above Avgcost * Profit Target3: * Profit Target4:
Profit Taking: ()1/4@ ()1/2@ ()2/3@ (X)scaled

out@95.97
()stopped out@ * Shares added ()50@ ()75@ ()100@ ()200@
Profit Taking: ()1/4@ ()1/2@ ()2/3@ (X)scaled
out@96.09
()stopped out@ * Shares added ()50@ ()75@ ()100@ ()200@
Profit Taking: ()1/4@ ()1/2@ ()2/3@ ()scaled out@ ()stopped out@ * Shares added ()50@ ()75@ ()100@ ()200@
Profit Taking: ()1/4@ ()1/2@ ()2/3@ ()scaled out@ ()stopped out@ * Shares added ()50@ ()75@ ()100@ ()200@

*What was the result of the trade, what happened? This was a failed trade. The market was consolidating at the time of entry. I took a ORBD trade at 95.48 with 50 shares when the price action took out the ORH with above average volume. I set taking out the ORL 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 95.48 and the Bollinger Bands was at -94.82. I had a daily pivot at 93.67. I set profit targets at .50 and 1.00 above Avgcost. The price action gapped down and made a new LOD then reversed gapping up with rising volume. I exited my position way above the moving averages.

*FEELINGS- Describe what you thought and felt during the trade? Feeling I was not reacting fast enough to pull this failing trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the ORL with above average volume. Bad: The premarket low and PCL was in the way of my 2nd profit target. The price action reversed after making a new LOD. I exited my position way past my technical stop.

*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 I should have avoided since the premarket low and PCL was in the way of my 2nd 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? I will not enter a trade if there is a major support or resistance level in the way of profit targets.

*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 (X)Go ()No Go * Profit Targets/Stop Respected ()Go (X)No Go

image


Execution detail:

Date/time Symbol Side Price Position
2023-03-29 10:38:03 AMD sell $95.480 short
2023-03-29 10:40:47 AMD buy $95.970 short
2023-03-29 10:41:07 AMD buy $96.090 0


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