Daily Report Card 11172020

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

Sum­ma­ry: Late VA Rejection

P&L: Flat

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: 

• In case SL place­ment goes through M30 for­ma­tion, look for a bet­ter entry. 

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

Sum­ma­ry

• GBPNZD
  • B react­ed off VAH / W1-C‑D (from inside) closed as a stronger Inside Bar, M15 Bear Engulf
  • C: Extend­ed below IB and closed below as well although leav­ing a buy­ing wick behind above M30 VWAP form­ing a M30 Three Inside Down. M15 Inside bar above D1-C‑D 1.91298.
  • D: Closed as M30 Inside bar above M30 VWAP and as a Failed Auc­tion. Fol­low-through on M15 Inside Bar at D1 C‑Dem.
  • E: Price got jumpy per­haps on some news event and burst price over the top of IB form­ing a Neu­tral Day. No idea on the event though.
    • Closed above IB
  • F: Closed as M30 Inside Bar back inside IB
  • G: Closed as M30 RBR
    • Didn’t expect a move out­side this late into the ses­sion but it looks like Hypo 1 was the cor­rect play of the day in essence.
  • H: Closed mak­ing HHs. H4 VWAP BO.

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 2 – VA rejec­tion Failure
    • ADR 0.5 High + LTF sup­ply + H4 VWAP (plus fail­ure to exit W1 demand, this is for exper­i­men­tal pur­pos­es). Near­by D1 C‑sup.
    • Pre­ferred: PA rever­sal after IB exten­sion up fol­lowed by failed auc­tion and quick fol­low-through on mov­ing through IB.
      • 90%
      • There was no IB exten­sion up but instead the PA rever­sal hap­pened with­in IB with con­se­quent IB exten­sion down tran­si­tion­ing into a pos­si­ble Hypo 3 — which failed as well.
  • Hypo 1 – VA Rejec­tion Up
    • H4 Phase 1 tran­si­tion phase 2 com­ing off D1 C‑Dem + over­all brack­et­ing mar­ket with expand­ing profiles.
    • Pre­ferred: Good close out­side VA, IB exten­sion up with sus­tained auction.
      • 70%
      • Hap­pened late in the ses­sion after form­ing a Neu­tral Day by extend­ing down first. D1 C‑Dem CAS. 

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

• I did okay. I fair­ly assessed medi­um time frame nar­ra­tive but didn’t expect the move to hap­pen lat­er on in the ses­sion. Which is okay and I took notes for my playbook. 

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

• No trades taken

How well did I fol­low my process?

• I did well here. There was no clear cut way for me to enter the moves. Although I did learn and per­haps I’ll use a M5 entry next time. Took notes for my playbook.

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

• I did well here

What did I learn today?

• The main move can hap­pen lat­er on in the session.

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

• Believe in my abil­i­ties to align with the mar­ket narrative

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

• Always find a way to enter. I mean it is good to under­stand pos­si­ble improve­ments and if test­ed sure you can try them out. Oth­er­wise, just move on to the next oppor­tu­ni­ty. Which I did do well today by the way. 

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 11172020

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