How did I trade today? 02032021

Sum­ma­ry: I know bor­ing is good but come on! 🙂

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: M15 DBD con­tin­ued dur­ing IB although some long buy­ing wicks around at M15 QLo. B closed as a doji with slight­ly longer sell­ing wick.
  • C: Extend­ed below IB but closed with­in IB (fail­ing auc­tion although no rever­sal pat­tern yet) although closed slight­ly lower
  • D: M15 Bull Engulf with sell­ing wick (not on the hour) test­ing IB high, mon­i­tor­ing for a pos­si­ble tran­si­tion into M30. M15 Bear­ish Inside Bar. M30 closed as a con­sol­i­da­tion with long sell­ing wick. 
  • E: Closed as a Bear Engulf with­in IB with longer buy­ing wick after mak­ing a LL
  • F: Closed as an Inside Bar with slight­ly longer sell­ing wick / H1 DBD with longer buy­ing wick (did not close with­in demand) / Pos­si­ble M15 Three Inside Down (first two) 
  • G: Closed as a M30 Three Inside Up, no exten­sion to the upside (yet) though 
  • H: Closed as an INside Bar with longer buy­ing wick. Seems like noth­ing much hap­pened today. 

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 — Return to Value
  • Pre­ferred: Fail­ure to accept val­ue with bear­ish price action rever­sal at VAL. IB exten­sion down with sus­tained auc­tion tak­ing out LTF demand.
  • 60%
  • There was no move high­er towards VAL. Instead there was an exten­sion dur­ing C hit­ting H1 demand with­in H4 demand. Lots of push back and price closed back with­in IB mul­ti­ple times with­out much of a price action con­fir­ma­tion of a failed auc­tion and intend to push price high­er. Instead we had some respon­sive activ­i­ty. Due to the price trad­ing below the H4 Inside bar I did not doc­u­ment this as Hypo 3 — respon­sive activ­i­ty play­ing out. 

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

• I did well. Based on open sen­ti­ment and medi­um time­frame nar­ra­tive I hypoth­e­sized a move down by return to val­ue. Sad­ly, there was no push to the move. This was to be expect­ed due to under­ly­ing demand and Price mov­ing high­er from H4 QLo. Although D1 nar­ra­tive and open sen­ti­ment (and lack fo a val­ue accep­tance) I went for a slight­ly short bias. 

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

• No trades tak­en but I felt well

How well did I fol­low my process?

• Trade selec­tion
  • I was eye­ing an entry short based on hypo 1 but had liked to see a move high­er towards VAL. When this did not come I was con­flict­ed by the con­tra­dict­ing price action (plus there were a lot of buy­ing wicks on M15 indi­cat­ing buy­ers hang­ing around these lev­els) and hes­i­tat­ed to enter in on any trade. I did well here. 
• Trade Siz­ing & SL placement
  • N.A.
• Trade Exe­cu­tion & Mgmt
  • N.A. 

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

• I did well here

What did I learn today?

• I learned that I can stay objec­tive and fol­low my rules. 

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

• Fol­low the price 

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

• Wor­ry about my abil­i­ties to read nar­ra­tive, through price action and orderflow. 

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 02032021

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