BA Trade on Jun 22, 2023 09:36 from The_Trading_Apprentice: Tradervue User Stock Trades.

Description:

Trade#: 1. Ticker: BA. The market was gapping up at the time of entry. I took a ORBD trade at 203.88 with 50 shares when the price action took out the ORL and premarket low with volume rising on the 2-minute chart. I set taking out the ORL with confirmation as my technical stop and a 2.00 hard stop. The price action was above the LRC and below the BBs. I had levels at 203.69 (DP), 203.86 (LRC), and 198.15. I set my 1st profit target at 202.86.

*What was the result of the trade, what happened? This was a losing trade. The price action made a new LOD then quickly reversed. I allowed the price action to test several levels of resistance before deciding to stop out at 207.54 which was a stop of 3.66 from entry.

*FEELINGS- Describe what you thought and felt during the trade? I felt I managed this traded very poorly and anticipated the execution instead of conforming the setup.

*EVALUATION- What was good or bad about the trade (what worked according to plan in the trade)? Good: Not much. Bad: I executed without confirming the setup. I did not have a catalyst to trade against the overall upward market trend. I traded into daily support. I traded into the LRC support. I did not set an appropriate hard stop. I did not respect my technical and hard stops.

*ANALYSIS- Does the trade make sense to you now that it is over? No, I did a poor job of confirming a setup to execute and the overall market was gapping up in a strong fashion which did not support my hypothesis to short $BA without a catalyst.

*CONCLUSION- What is the final judgment of the trade (draw conclusions)? This trade was poorly executed without confirmation of a setup and catalyst to short against a strong upward market trend. I continue to ignore my max hard stops which I will need to examine in greater depth to understand what is behind this trading error.

*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 work on being less anticipatory with my executions and confirm all setups.

*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 ()Go (X)No Go