20220207 Premarket Prep DAX

07 Feb 20220207 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DAX. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

• Price trad­ing just below last week’s body

Sen­ti­ment

• Nar­ra­tive
  • Price trad­ing at D1 QLo
  • H4 Bull Engulf at D1 QLo although fail­ing to close above H4 QLo
  • Prev. Day Exceed­ed ADR by 1.63
  • Trend is DOWN 2/3
  • ADR 0.5 Low just below VAL and above VAH
• LN open
  • Open With­in Value
• Mar­ket Profile
  • Very wide val­ue cre­at­ed in DT
• Clar­i­ty (1–5, 5 being best)
  • 2
• Hypo 1
  • Long
  • Failed Auc­tion
• Hypo 2
  • Short
  • Failed Auc­tion
• Hypo 3
  • Short/Long
  • Bal­anc­ing Mar­ket play, take ear­ly profits
• Hypo 4
  • Short
  • Late-Sus­tained Auction

Addi­tion­al notes

• N.A.

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay, although first day back after hol­i­days so take it easy

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
  • No ear­ly exits
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

• Twit­ter
• Insta­gram