How did I trade today? 20210617

Sum­ma­ry: Take chances. Make mis­takes. And Learn. 

#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. 

Good Pre-mar­ket routines

Good Ses­sion PECS

BAD 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): 2

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Summary — New York

• GOLD
  • 1st DTTZ
    • A closed as a Bull­ish Inside Bar, B as a pos­si­ble base with longer buy­ing wick, IBR 0.62xASR a bit wide but might be pro­por­tion­al the huge gap down. 
    • C extend­ed above, placed a buy stop order at 1787.400, SL 1783.400, TP 1795.500 as per Hypo 1
    • Got stopped out ‑1R

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GOLD — New York

• 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
  • Auc­tion Fade Short, Hypo 1 plays out reach­ing near H4 Sup­ply Base with­out hit­ting it, tar­get IB high
  • 50% cor­rect (it was actu­al­ly a Failed Auction)

What hap­pened around the 1st DTTZ? Which Hypo played out (if any)?

An exten­sion in C that failed auc­tion and a move through IB and extend­ing below form­ing a Neu­tral Day.

What was the play of the day?

Failed Auc­tion play

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

Not real­ly. I had expect­ed a mean rever­sion but that did not come at all. 

Was there an oppor­tu­ni­ty and did I take it?

I did think to take a trade based on an exten­sion in C TPO. But failed to under­stand I was using a PA for­ma­tion from out­side of RTH togeth­er with an exten­sion pre-PNYC. Trade went in my favor about 0.8 before stop­ping me out. 

DTTZ: 1st

Entry: IB exten­sion, pos­si­bil­i­ty of a M30 RBR. 

Prof­it Mar­gin (ADR or con­ges­tion): Would have been 2+R if it was a good play. 

What would a price action exit rule have done?

Got stopped out ‑1R

How was SL place­ment and Siz­ing (Was there a need for scaling)?

SL place­ment was good, I placed it right below the formation. 

What would time-based have done?

N.A.

What could I have done better?

I could have not tak­en the trade due to faulty read­ing of PA and exten­sion before PNYC.

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

I felt okay actually. 

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

I did well today

What did I learn today?

I learned that I can take a gam­ble based on my own assump­tion (faulty as it may) and be okay with it. 

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

Take chances. Make mis­takes. And Learn. 

What’s one (or more) thing(s) I need to do less often?

Even though I took a bad trade I believe I did well here. I don’t have much expe­ri­ence trad­ing NY so there are some details I am not entire­ly clear on yet. But that will come. One trade at a time. 

Under the cir­cum­stances, did I per­form at my best?

Yes, I did. 

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

20210617 Pre­mar­ket Prep Gold NY

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20210617 Pre­mar­ket Prep WTI Crude NY

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