NVDA Trade on Jun 21, 2023 10:49 from The_Trading_Apprentice: Tradervue User Stock Trades.

Description:

Trade#: 3. Ticker: NVDA. The market was gapping down at the time of entry. I took a LODB trade at 422.07 with 25 shares when the price action took out the LOD. I set taking out the 9EMA with confirmation as my technical stop and a 2.00 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 a level at 419.38. I had significant area of liquidity on Bookmap at 420.00. I set my 1st profit target at 420.00.

*What was the result of the trade, what happened? This was a losing trade. The price action made a new LOD and reversed to the upside. The price action took out the 9EMA with confirmation, so I stopped out.

*FEELINGS- Describe what you thought and felt during the trade? Feeling that I was revenge trading.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Not much. Bad: I did not wait for confirmation of a continuation trend to the downside. I went past my maximum hard stop. I was revenge trading.

*ANALYSIS- Does the trade make sense to you now that it is over? No. I entered the traded based on feelings and not on the technicals.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? This was not a good setup to execute and I was not following rules.

*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 reset and no longer trade for the day. I will study my rules and follow them.

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