How did I trade today? 01272021

Sum­ma­ry: Return to Value

Account (P&L): +1R (PT)

#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: A closed as Bear Engulf with equal long sell­ing and buy­ing wicks tra­vers­ing 0.5xASR. 
  • C: Extend­ed below IB but closed with­in IB although no con­firmed price action rever­sal, M15 did close as bull­ish inside bar (on the hour). Due to D1 DBD nar­ra­tive I believe this might get overridden. 
    • Paper Trade: Short 1845.050 SL 1849.545 TP (1R) 1840.555
  • D: Closed as spin­ning top with slight­ly longer sell­ing wick all with­in IB
  • E: Weak Bull Engulf
  • F: Slight move high­er with­in IB
  • G: Drop down below IB
  • H: Posi­tion would have hit 1R. Time-based it would have been 0.9R. HJ closed trad­ing low­er with longer buy­ing wick react­ing off W1 C‑dem

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 2 — Return to Value
  • Pre­ferred: Fail­ure to accept val­ue, price action con­firm­ing rever­sal, IB exten­sion down with sus­tained auction.
  • 80%
  • The sus­tained auc­tion came but after fail­ing auc­tion first albeit some­what weakly. 

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

• I did well here. Based on the D1 nar­ra­tive I came up with hypo 2 and watched price action play out some­what accord­ing­ly. I did not take a real trade as it posed some risk and I would only focus on tak­ing ‘clean­er’ setups. 

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

• I did well here

How well did I fol­low my process?

• Trade selec­tion
  • Trade was good and hit 1R tar­get dur­ing H
• Trade Siz­ing & SL placement
  • Based on the entry momen­tum was sur­mised and expect­ed (although with Jan­u­ary being such a weird month I did not expect it to be hon­est). So SL place­ment was okay as it was above the DPOC. 
• Trade Exe­cu­tion & Mgmt
  • 1R was hit so all good here. 

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

• I did okay here. I am oth­er­wise dis­tract­ed IRL 🙂 so I did well to be extra cautious. 

What did I learn today?

• I don’t need to make trades to feel like a trad­er. I am a day trad­er. My job is to make good deci­sions at the best of my abil­i­ties. My edge will take care of the rest. 

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

• Stay objec­tive. 

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

• 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 Gold 01272021

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