NVDA Trade on Apr 27, 2023 09:41 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 1
Ticker: NVDA
$SPY Condition: Gapping down
Strategy: LODB
Price@LRC: Below
Price@BBs: Below
Bookmap areas: 270.00
5-Minute ATR: 1.00
Beginning Position Size: 50
Avgcost: 270.81
Technical Stop: ORL
Hard Stop: 269.81
Level1: 268.35 (LRC)
Level2: 267.33 (BBs)
Level3: 263.95 (DP)
1st Profit Target: 269.00
Profit Taking: 269.00, 268.61, 267.50
Shares Added:
Exit: 268.50 (scaled out)
Trading Error:

*What was the result of the trade, what happened? This was a winning trade. The market was gapping down at the time of entry. I took a LODB trade at 270.81 with 50 shares when the price action took out the ORL and premarket low 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 price action was below the LRC and below the BBs. I had levels at 268.35 (LRC), 267.33 (BBs) and 263.95 (DP). I set my 1st profit target at 269.00. The price action gapped down strong, and I took a 2/3 partial at 269.00. I took additional partials at 268.61, 267.50, and scaled the rest of my shares at 268.50.

*FEELINGS- Describe what you thought and felt during the trade? I was feeling proud with my execution and trade management, especially after the terrible trading day I had yesterday.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action took out the ORL and premarket low with above average volume. The price action was below the LRC and BBs. Bad: The price action made a new LOD then revered.

*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 was able to reset from the difficult trading day I had yesterday and focus on my trade book process with excellent execution and without P&L trading. In the process, I recovered over half of my losses from yesterday's trading.

*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 focus on the trading process and execute my trading plan without regard to profits.

*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