MSFT Trade on Apr 13, 2023 11:31 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 2
Ticker: MSFT
Market Condition: Consolidating
Strategy: Reversal
5-Minute ATR: 1.00
Beginning Position Size: 50
Avgcost: 287.40
Technical Stop: HOD
Hard Stop: 287.91
LRC Level: 287.31
Bollinger Bands Level: 286.83
Level1: 284.46 (DP)
Profit Target1: 287.00 * Profit Target2: 286.00
Profit Taking: Stopped

*What was the result of the trade, what happened? This was a losing trade. The market was consolidating at the time of entry. I took a reversal trade at 287.40 with 50 shares when the price action reversed with strong momentum and rising volume on the 1-minute chart. I set taking out the HOD with confirmation as my technical stop and a 287.91 hard stop based on the ATR of the 5-minute candle prior to entry. The LRC was at 287.31 and the Bollinger Bands was at 286.83. I had a daily pivot at 287.00. I set profit targets at 287.00 and 288.00. The price action started to consolidate above the 9EMA on the 5-minute chart and two large orders on the ask side at 288.00 and 289.00 appeared which I had not noticed before entering. I also confirmed this on my trial version of Bookmap which showed large areas of liquidity on the upside. I exited my position when the price action broke through the HOD and viewing movement towards the large orders as previously mentioned.

*FEELINGS- Describe what you thought and felt during the trade? Frustrated with my execution.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Rising volume and downward price action movement. Large orders on the ask side.

*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 executed this trade without examining the overall movement of the market which was consolidating at the time, and I should have taken into consideration large areas of liquidity on the upside.

*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 take into consideration more input from the market as it relates to the direction of the price action.

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