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How did I trade today? 20210429

Sum­ma­ry: Progress. Not perfection. 

#fin­twit #order­flow #day­trad­ing #dai­lyre­port­card #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: 

Good Pre-mar­ket routines

Fair 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

How accu­rate was my assess­ment of mar­ket con­text? What were the cir­cum­stances of the devel­op­ing nar­ra­tive? How did they devel­op accord­ing to DTTZ?

As hypoth­e­sized with price show­ing LTF rever­sals at LTF SD and ADR levels.

What was the play of the day?

Bal­anc­ing Market

Was I right on the out­come? Which Hypo played out and why was it not Hypo 1 (if any)?

Yes I was

Was there an oppor­tu­ni­ty and did I take it?

Yes there were but no I did not. I decid­ed to take it easy today as it is also almost the end of the month. Plus being able to for­ward-test the bal­anc­ing mar­ket play­book set­up. Fur­ther­more, there was a clear­er set­up on Gold that I was stalk­ing and focused more on that. 

What could I have done better?

I did well to stay out. 

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

No trades taken.


GOLD

How accu­rate was my assess­ment of mar­ket con­text? What were the cir­cum­stances of the devel­op­ing nar­ra­tive? How did they devel­op accord­ing to DTTZ?

I didn’t feel com­fort­able trad­ing right into LTF demand so I had placed a Sell Lim­it Order slight­ly above xxx8.5. Price missed it by a pip or so and con­tin­ued down in a low/medium ini­tia­tive activ­i­ty sus­tained auc­tion down. That is until 2nd DTTZ formed a Bull­ish Inside Bar and price reversed accord­ing to Hypo 2 in over­lap noise. There was no buy­ing tail or TPO structure.

What was the play of the day?

A Mean Rever­sion play. Although C closed below IB with a Marubozu can­dle there was a huge lack of ini­tia­tive in the direc­tion. I was put off by this a bit. 

Was I right on the out­come? Which Hypo played out and why was it not Hypo 1 (if any)?

Yes I was

Was there an oppor­tu­ni­ty and did I take it?

Yes there were two oppor­tu­ni­ties although the 2nd one I would not have tak­en as it would have been trad­ing win­dow close. 

What could I have done better?

I did well to not chase the mar­ket when my order didn’t get trig­gered so I did well here. 

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

Didn’t feel bad my trade didn’t get triggered. 


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

Again, I felt a bit tired towards the mid­dle of the ses­sion there. I did not have a big meal although it was spicy which I nor­mal­ly don’t eat. I won­der if that was it. 

What did I learn today?

I learned that I am most­ly right on the direc­tion but am hes­i­tat­ing to pull the trig­ger more than I’d like to admit. I feel I am doing well by stay­ing out when in lack of con­fi­dence but at the same time I feel I should be tak­ing more trades a month. It is bet­ter to stay out when lack­ing con­fi­dence so I am think­ing this is just part of the phase I am in right now.  I will fur­ther eval­u­ate this in my month­ly report.

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

Try and stay objec­tive about my progress. 

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

Put myself down if I am not per­form­ing well. Although I didn’t real­ly do that today but I just got back from the gym and pos­si­bly even more tired now so easy to feel negative.

Under the cir­cum­stances, did I per­form at my best?

I think I did well 

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

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