NVDA Trade on Apr 28, 2023 12:57 from The_Trading_Apprentice: Tradervue User Stock Trades.

DESCRIPTION OF TRADE
Trade#: 2
Ticker: NVDA
$SPY Condition: Gapping up
Strategy: HODB
Price@LRC: Above
Price@BB: Below
Bookmap areas: 276.00, 278.00
5-Minute ATR: 1.00
Beginning Position Size: 50
Avgcost: 275.69
Technical Stop: PMH
Hard Stop: 274.69
Level1: 276.21 (DP)
Level2: 278.74 (LRC)
Level3: 280.00 (DP)
1st Profit Target: 276.50
Profit Taking: 276.50 (2/3)
Shares Added: 0
Exit: 276.33 (scaled out)
Trading Error: Price action to close to BBs prior to entry

*What was the result of the trade, what happened? This was a profitable trade. The market was gapping up at the time of entry. I took a HODB trade at 275.69 with 50 shares when the price action took out the PMH and HOD with above average volume. I set taking out the PMH 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 above the LRC and below the BBs. I had levels at 276.21 (DP), 278.74 (LRC), and 280.00 (DP). I set my 1st profit target at 276.50. The price action immediately got stuck in consolidation and below the upper BBs. It took some time for the price action to break the range it was in and I was able to take a 2/3 partial at 276.50 and scaled out the rest of my shares at 276.33 near the end of the trading session.

*FEELINGS- Describe what you thought and felt during the trade? Feeling ok, but doubtful about the trade.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: The price action broke the PMH and HOD. Bad: I entered the trade when the price action was right below the upper BBs. The price action also had a hard time breaking out a large are of liquidity at 276.00 on Bookmap.

*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 take profit but I had to wait some time to do so.

*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 pay greater attention to where the price action is on the LRC and BBs before taking a trade.

*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