How did I trade today? 01252021

Sum­ma­ry: Being flat is okay

Account (P&L): FLAT

#fin­twit #order­flow #day­trad­ing #dai­lyre­port­card #day­trad­ing #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: 

• Only take trades accord­ing to a hypo unless mul­ti­ple con­di­tions are met

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

• GOLD
  • IB: Bear Engulf fol­lowed by Inside bar
  • C: Extend­ed over IB
  • D: Made HHs
  • E: Made Inside bar with slight­ly longer buy­ing wick
  • F: Shot up closed over VAH
  • G: Closed as spin­ning top with longer sell­ing wick, M15 con­sol­i­da­tion with bull­ish finisher
  • H: Closed as a Doji, M15 Bear Engulf, H4 closed as a huge Morn­ing Star formation

Hypos — 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?
• Hypo 1 — Bal­anc­ing Mar­ket / Val­ue Rejec­tion Failure
  • Place off near­by LTF SD, ADR levels
  • 100%
  • Price moved above VAH and start­ed fal­ter­ing at H1 QHi but it seems the move is hap­pen­ing after my win­dow closed. ALthough risky due to time of day and H4 sentiment. 

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. No urge to trade as Jan­u­ary is a bit of an odd one. 

How well did I fol­low my process?

• Trade selec­tion
  • Trade I eyed came at noon. 4 TPO struc­ture build up, M30 con­sol­i­da­tion, M15 Bear­ish Engulf­ing (on close). Entry would have been at 1862.940
• Trade Siz­ing & SL placement
  • Would have been right at 1866.151. TP at 1856.607
• Trade Exe­cu­tion & Mgmt
  • As I am writ­ing I see price drop­ping fair­ly quick (cur­rent­ly at 0.9R). Over­lap noise mak­ing sure of that. Will track and see if tak­ing a trade in over­lap noise might be worth it when I can risk more. 

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

• I did some­what okay here although feel­ing slow and am still under the weath­er…. Anoth­er good night sleep will prob­a­bly do it. 

What did I learn today?

• There is no need to trade. There is no loss in being flat. There will be when tak­ing a trade you shouldn’t be in on. When the trade comes. You know. You know when to act and take an oppor­tu­ni­ty. Every­thing else is just noise. 

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

• Stay patient

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

• I did well today. Noth­ing to mention. 

Under the cir­cum­stances, did I per­form at my best?

• I did well today

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

Pre­mar­ket Prep Gold 01252021

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