Daily Report Card 10132020

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

Sum­ma­ry: Gain­ing Experience

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: 

• Only trade off M30/M15 for entries. M30, time-based, or look for exits after 2 hours (4 TPOs). Unless the entry is real­ly late.
• SL place­ment. Add spread for shorts, sub­tract for longs

Good Pre-mar­ket routines

Good Ses­sion PECS

Fair 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

Sum­ma­ry

• GBPNZD
  • B closed with­in val­ue, could have been more confidently 
  • C: Extend­ed down and went short 1.95874 SL 1.96295 TP 1.95095
    • Con­sol­i­da­tion on M5, M15 closed down, no LLs from 1.95775 yet. 
  • D: Price hit PPOC and failed to press beyond it so took the trade off for 0.5R prof­it at 1.95717
    • Closed as a Bull Engulf slight­ly out­side of val­ue with­in IB
  • E: Closed as a Bear Engulf back into value
  • F: Closed as an inside bar
  • G: Went and test­ed IB high

Hypos

• 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?
• GBPNZD
  • Hypo 1 – Val­ue Accep­tance (short)
    • If ‘deep close’ I will wait for a retest of edge. Not much demand under­neath until VAL.
    • 100%
      • Still hasn’t rotat­ed through at the time of writ­ing although got close (10 pips) 

How accu­rate was my assess­ment of mar­ket con­text? Was I aligned with mar­ket context?

• I did well here

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

• I did well here even though being tired

How well did I fol­low my process?

• I did well here

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

• I did well here espe­cial­ly con­sid­er­ing I feel tired because of inad­e­quate sleep

What did I learn today?

• I learned that I can keep trad­ing even when tired as long as I focus on the trad­ing rules. Plus work­ing out more def­i­nite­ly helps with stay­ing more ratio­nal so as soon as I am done I’m hit­ting the gym again 🙂 

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

• Keep learn­ing from track­ing behav­iour. My own and that of the market. 

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

• Think I’m there. I’m nev­er there. There is no there. Every­day gives a new puz­zle to solve. It is this puz­zle solv­ing that keeps mak­ing me come back.

Under the cir­cum­stances, did I per­form at my best?

• I did well here

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

Pre­mar­ket Prep GBPNZD 10132020

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