Daily Report Card 11232020

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

Sum­ma­ry: Under­stand­ing Time Frame Dynam­ics in dif­fer­ent mar­ket regimes

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: 

• Don’t take trades where SL place­ment is sub­op­ti­mal. Instead, reassess for a bet­ter entry if possible. 

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
  • IB closed high­er near H4 C‑Sup, 95% ADR exhaustion.
  • C: Extend­ed IB high­er 4 TPOs, 96%, then trad­ed back with­in IB clos­ing as an Inside Bar below M30 QHi, M15 con­sol­i­da­tion and break down retrac­ing back to W1-C‑D 1.92065. H1/H4 still look­ing bull­ish though. 
  • D: Closed as an Inside Bar. M15 Bull Engulf At VWAP (on the hour), H1 Inside bar. 
  • E: Closed not mak­ing HHs or any move for that mat­ter. Gonna stop observ­ing the mar­ket today and focus on oth­er stuff. Any­thing bet­ter than watch­ing paint dry.
  • F: Closed as M30 Bear Engulf, H1 Three Inside Down.
    • No good entry oppor­tu­ni­ty. If there was one it would have been on the M15 ear­li­er but since I ‘missed’ that I am going to stay out. 
  • G: Closed extend­ing below IB
  • H: Closed as Bull Engulf. 

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 – Mean Reversion
    • Pre­ferred: IB extend­ing towards H4 C‑Sup fol­lowed by PA con­firm­ing a rever­sal and either an IB exten­sion down or failed auction. 
    • 100%
      • We did not end up hav­ing a M30 for­ma­tion (with M15 com­bi­na­tion) to enter on with good SL placement.
      • I thought there was a pos­si­bil­i­ty on the M15 to get in on which I want­ed to include in my play­book. But due to lack of clar­i­ty on the M30 (plus lack of good 2R and M30 VWAP in the way) I did not feel like get­ting involved and don’t feel it was a wor­thy opportunity. 

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

• I did okay here.

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

• No trades

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

What did I learn today?

• In times of con­tin­ued range bound mar­kets the M15/H1 com­bi­na­tion seems to be work­ing bet­ter. Will keep more taps on this. 

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

• Feel­ing okay not trad­ing. I was con­sid­er­ing that when I am fund­ed I real­ly don’t need many trades a month to make a liv­ing. Just need good clean trades espe­cial­ly when build­ing up a buffer.

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

• I feel I did well today

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 11232020

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