How did I trade today? 02152021

#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

• GBPNZD
  • IB: A accept­ed val­ue and closed as a Bear Engulf, B closed as a Spin­ning top, M15 Bull Engulf with long sell­ing wick, H1 Bear Engulf
  • C: Extend­ed 2 TPOs below and closed as an Inside bar with very long buy­ing wick, Entry off M15 Bull­ish Inside Bar would have been at 1.91839 and is trad­ing at 1R now.
  • D: Trad­ed high­er towards IB edge high no Neu­tral Day for­ma­tion (yet)
  • E: Extend­ed and closed above IB high
  • F: Closed as an Inside Bar
  • G: Closed as a RBR
  • H: Made HHs

Sum­ma­ry

• GOLD
  • IB: A closed as a bull engulf, Closed as an inside bar
  • C: Con­sol­i­da­tion continues. 
  • D: Con­sol­i­da­tion con­tin­ues with a slight Bear Engulf
  • E: Con­sol­i­da­tion con­tin­ues clos­ing as bull engulf with longer buy­ing wick
  • F: Con­sol­i­da­tion continues
  • G: Closed as Bull Engulf extend­ing over IB
  • H: closed as a spin­ning top with longer sell­ing wick

Hypos — GBPNZD

• 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 — Trend Continuation
  • Nar­ra­tive: Close above W1 QLo, mul­ti­ple tests of D1 sup­ply and thus D1 QHi
  • Pre­ferred: 2nd chance entry (test­ing val­ue) on Bull Engulf formed pre­mar­ket with a close above val­ue, IB exten­sion up with sus­tained auc­tion tak­ing out over­head supply.
  • 90% cor­rect
  • There was no 2nd chance entry off the Bull ENgulf pre­mar­ket. Instead there was an exten­sion down with imme­di­ate push high­er form­ing a Neu­tral Day.

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 — Val­ue Rejec­tion Up
  • Nar­ra­tive: W1 QLo, D1 c‑dem
  • Pre­ferred: Ear­ly close above val­ue, IB exten­sion up (momen­tum) with sus­tained auction.
  • 70%
  • Instead there was a lengthy con­sol­i­da­tion before a break high­er late in the session.

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

• I did well here although I did not take advan­tage of the oppor­tu­ni­ty. The advan­tage was a M5 entry with­out a com­plet­ed M15 or M30 pat­tern. Thus I hes­i­tat­ed and let it go even though I was think­ing it was the opportunity.

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

• No trades taken. 

How well did I fol­low my process?

• No trade tak­en, but doc­u­ment­ed the oppor­tu­ni­ty into my playbook. 

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

• I did well here. Even when I let the oppor­tu­ni­ty go I saw it would con­tin­ue high­er but as the R/R at those lev­els was sub­op­ti­mal I let it go and did not act out of FOMO.

What did I learn today?

• I learned how a larg­er time frame nar­ra­tive influ­ences a val­ue acceptance.

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

• Stay obser­vant and take notes. 

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

• Wor­ry about tak­ing trades. I am redis­cov­er­ing details of the things I learned under Dee and am for­ward-test­ing trade ideas which is great as I am increas­ing my con­fi­dence in them. 

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 02152021

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Pre­mar­ket Prep Gold 02152021

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