How did I trade today? 20210510

10 May How did I trade today? 20210510

Sum­ma­ry: Not much going on

#fin­twit #order­flow #day­trad­ing #dai­lyre­port­card #trad­inglifestyle #day­trader­life #grasshop­per­sanony­mous #trad­ing­forex #trad­ing­com­modi­ties #NEXT

Every trad­ing day I recap my trades, includ­ing more than entries and exits. Why did I take the trade? How did I man­age the trade, my emo­tions and cog­ni­tive func­tion? All the good stuff as well as all the ugly of being a day trad­er. As always, feel free to reach out to me. 

My week­ly goal: 

• Min. 3 times hit­ting the gym + manda­to­ry cardio
• Trad­ing rules
  • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
  • Only price-action based exit rules (or if hit time stop comes earlier)
    • Oth­er­wise a Bart Simp­son exercise
    • Doing one right now

Good Pre-mar­ket routines

Good Ses­sion PECS

Good Trade selection

Good Trade siz­ing or SL placement

Good Trade Exe­cu­tion & Mgmt.

Good Risk Adjust­ed Returns

Yes Dai­ly review

Mup­pet meter (1 being best — 5 being worst): 1

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Summary

• GBPNZD
  • IB: Price trad­ed high­er to 10 pips below ADR exhaus­tion (91%)
  • C: Closed as a Bear Engulf
  • D: Closed neu­tral as a pos­si­ble Base but no IB exten­sion (yet)
  • E: Closed as a DBD with no IB extension
  • F: Closed as a Bull Engulf at M30 VWAP in UT, VAH 
  • G: Closed with­in IB after extend­ing 3 TPOs above IB
  • H: Closed not mak­ing HHs as a pos­si­ble con­sol­i­da­tion or slight bear engulf

• GOLD
  • IB: Closed lower
  • C: Closed as a Three Inside Up extend­ing above IB
  • D: Closed as an Inside Bar with longer buy­ing wick
  • E: Closed as a Doji
  • F: Closed as a Bull Engulf
  • G: Closed above IB extend­ing mak­ing HHs
  • H: Made HHs clos­ing on its high

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GBPNZD

• Which hypo played out and how did I hypoth­e­size it play­ing out? How did it actu­al­ly play out? What did the pro­file and price action show?
• Hypo 1 — Trend Con­tin­u­a­tion / Return to Value
  • Nar­ra­tive: Open sen­ti­ment. H4 sup­ply get­ting popped premarket. 
  • Pre­ferred: Strong Bull­ish PA with IB exten­sion up and sus­tained auc­tion exhaust­ing ADR / IB exten­sion down to failed auction
  • Con: Trend is Down. D1 Supply
  • 80% cor­rect

How accu­rate was my assess­ment of mar­ket con­text? What were the cir­cum­stances of the devel­op­ing nar­ra­tive? How did they devel­op accord­ing to DTTZ?

Instead of a momen­tum exten­sion up price pulled back to VAH with­out extend­ing IB to the down­side. Then F closed as a Bull Engulf at M30 VWAP in UT, VAH and extend­ed above IB dur­ing G. 

What was the play of the day?

It was a Return to Val­ue play that didn’t move much. 

Was I right on the out­come? Which Hypo played out and why was it not Hypo 1 (if any)?

Yes I was

Was there an oppor­tu­ni­ty and did I take it?

There was but I had decid­ed not to trade due to not feel­ing sharp today

What could I have done better?

I did well to stay out

How did I feel before, dur­ing, and after the trade?

No trade taken

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GOLD

• Which hypo played out and how did I hypoth­e­size it play­ing out? How did it actu­al­ly play out? What did the pro­file and price action show?
• None of my hypos came out as there was a trend con­tin­u­a­tion instead

What could I have done better?

Did well to stay out as there was no viable opportunity

How did I feel before, dur­ing, and after the trade?

No trade taken

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How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?

I felt very tired so did well to stay out.

What did I learn today?

That it is okay to not trade

What’s one thing I need to do more often?

Focus on my process

What’s one thing I need to do less often?

Wor­ry about trading

Under the cir­cum­stances, did I per­form at my best?

Yes I did

For my trade plan(s) on this par­tic­u­lar day, go here:

Pre­mar­ket Prep GBPNZD 20210510

Pre­mar­ket Prep Gold 20210510

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