How did I trade today? 20210708

Sum­ma­ry: Progress, not perfection

#fin­twit #order­flow #day­trad­ing #dai­lyre­port­card #trad­inglifestyle #day­trader­life #grasshop­per­sanony­mous #trad­ing­forex #trad­ing­com­modi­ties #NEXT

A small sum­ma­ry of how I did dur­ing the ses­sion. Things I did well. Things I need to keep work­ing on. Trade Reviews are part of my post-mortem but usu­al­ly I post those the next day.

My week­ly goals: 

• Min. 3 times work­ing out at home + manda­to­ry cardio
• Trad­ing rules
  • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• No social media / mes­sen­ger apps / phone calls allowed dur­ing the trad­ing window

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): 3

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Notes

Gold

• IB tra­versed high­er 1.08xASR accept­ing and rotat­ing through val­ue. B closed as a slight Bull Engulf with long sell­ing wick. 

DAX

• IB tra­versed down 0.95xASR. C extend­ed below but closed with­in. D failed to make a LL and a M15 Inside Bar was formed. I was hop­ing for a Bull­ish Inside Bar to get an ear­ly entry on a pos­si­ble FA. When this didn’t hap­pen I looked for an ini­tial push high­er, pos­si­ble an entry off M30 when it would close. When price pulled back to about where I was gonna go in, I went in anyway.
• Long 15500 SL 15464.50 TP 15572.58 (2R) but depend­ing on how it goes I’ll prob­a­bly take 1R
• M30 tran­si­tioned into a Bull­ish Inside Bar fail­ing auc­tion. Let­ting this go on for a bit. 
• Due to lack of buy­ing tail I lost the con­fi­dence in the trade and at a pull­back to entry lev­el I scratched the trade. This should have been TPO peri­ods duck­ing below IB.

GBPNZD

• IB trad­ed high­er exhaust­ing ADR. 

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

I did well here. I took what I thought was a good trade but then cut it. Luck­i­ly as the trade would have stopped me out. This way I scratched the trade at zero loss. 

What did I learn today?

I learned that a failed auc­tion should prefer­ably not have mul­ti­ple TPO peri­ods duck below IB. In that case the oppo­site direc­tion can be tak­en. Plus Asia had trad­ed down. So did Lon­don mak­ing a high­er prob­a­bil­i­ty for a uni­di­rec­tion­al day espe­cial­ly when at a D1 QHi. 

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

Take edu­cat­ed guess­es. Make mis­takes. Review and learn. 

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

Not for­get about the con­text of  the price structure. 

Under the cir­cum­stances, did I per­form at my best?

I did okay today. 

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

20210708 Pre­mar­ket Prep Gold

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Pre­mar­ket Prep GBPNZD 20210708

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20210708 Pre­mar­ket Prep DAX

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