How did I trade today? 20210817

Sum­ma­ry: Do your work before the mar­ket opens. Then execute. 

#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

FAIR 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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Notes

DAX

• A closed low­er exhaust­ing ADR to the down­side. B closed as a Bull­ish Inside bar with C extend­ing above IB.
• C closed with­in IB leav­ing behind a sell­ing tail. M15 showed some con­sol­i­da­tion and a Bear Engulf so I went short as per hypo 2
• Short: 15859.80, SL 15886.20, TP 15825.97
• When there was no con­tin­u­a­tion but instead a M15 Bull­ish Inside Bar that didn’t close above the for­ma­tion I decid­ed to wait for anoth­er M15 bar to close out the M30 bar. When this closed bull­ish I decid­ed to take the trade off at ‑0.7R
• Then dur­ing E TPO a M15 bar closed with­in val­ue and I wait­ed for a pull­back. I saw on M5 there was a con­sol­i­da­tion and most like­ly a con­tin­u­a­tion to the move. I would have liked M5 to pull­back fur­ther to per­haps IB high before enter­ing. But as it didn’t I went long at:
• Long: 15886.80, SL 15862.30, TP 15937.30
• When price moved high­er hit­ting LTF sup­ply with­in val­ue I decid­ed to take the trade off at 0.6R

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

I did well here. I was a bit wor­ried about the first short trade as price had not made an effort to go low­er in line with a poten­tial failed auc­tion. How­ev­er, I stayed calm and decid­ed to wait for more evi­dence against my the­sis. When this came (as out­lined above) I decid­ed to cut the trade. I could have cut the trade on the first M15 Bull­ish Inside bar but I’ve seen DAX being some­what slug­gish in want­i­ng to go short and M30, with­out a close was some­what neu­tral. Wait­ed for anoth­er M15 and thus M30 close and closed the position. 

What did I learn today?

I learned that I can go short and then quick­ly reverse and go long but still fol­low my entry rules. It’s not like I up and decid­ed to change direc­tion. I wait­ed for con­fir­ma­tion and then act­ed. Good fuck­ing work and I’m giv­ing myself a pat on the shoul­der for that one. 

As far as the first trade, and sec­ond trade, I will review more in-depth tomorrow. 

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

Do my prep. Take actions based on my prep. Don’t be stuck to a bias. Read price action and let it lead the way.

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

Wor­ry about tak­ing trades. 

Under the cir­cum­stances, did I per­form at my best?

I did well I’d say

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

20210817 Pre­mar­ket Prep DAX

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