How did I trade today? 20210824

Sum­ma­ry: Trust your mentor’s judge­ment and believe in yourself

#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

Good Trade selection

Good Trade siz­ing or SL placement

Good Trade Exe­cu­tion & Mgmt.

Good Risk Adjust­ed Returns

Yes Clar­i­ty — in tune with price

Mup­pet Meter (1 being best — 5 being worst): 1

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Notes

DAX

• FF trad­ed high­er, LN IB trad­ed low­er. Price start­ed build­ing strength at the bot­tom of IB and I went long on a M30 Bull Engulf in line with Hypo 1
• Long: 15897.90, SL 15870.87, TP 15951.99
• Price trad­ed high­er test­ing IB high before closed as an Invert­ed Ham­mer dur­ing E. Nor­mal­ly due to going into F I could have cut the trade and per­haps even gone the oth­er direc­tion for a quick move. How­ev­er, as M30 wasn’t a devel­oped rever­sal pat­tern I decid­ed to stick with the trade as Ham­mers often get retraced.
• F closed down form­ing a Three Out­side Down. Again I decid­ed against tak­ing the trade off as price did not close with­in LTF demand and H1 seems to have a con­sol­i­da­tion or side­ways price­ac­tion going on. At least I could try and get to breakeven or per­haps more if price action clos­es bullish. 
• M15 Bull Engulf was formed on top of LTF demand. Let­ting the trade go on a lit­tle longer see if it tran­si­tions into a M30 Bull­ish Inside Bar perhaps. 
• M30 closed as a con­sol­i­da­tion some would say a Bull Engulf but I don’t agree. Then when price moved slight­ly high­er I thought it was enough. I wait­ed 2 hours for the move to hap­pen and I don’t think it will hap­pen this late in the ses­sion so I took 0.3R. We are look­ing at a pos­si­ble devel­op­ing H4 Base to pos­si­bly facil­i­tate a leg up but not dur­ing my trad­ing win­dow. H1 side­ways move­ment was hit­ting the high of the range. 
• H and I closed high­er but still trad­ing with­in IB.
• J closed as a Bear Engulf but with longer buy­ing wick. Fol­lowed by a M15 DBD.

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

I think I did well here. I stayed patient and let M30 guide me through the trade.

Clar­i­ty

I had great clar­i­ty through­out the ses­sion. I was in-tune and was visu­al­iz­ing well what could come next by mon­i­tor­ing price action through OODA. 

What did I learn today?

I learned that per­haps I need to trade into the over­lap noise as well as DAX still has good vol­ume when the Amer­i­cans wake up. 

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

Trust the process. I can take advice but in the end I need to make my own deci­sions and stick to them. Until then I need to go through the process and make all my own. 

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

Wor­ry about tak­ing a loss

Under the cir­cum­stances, did I per­form at my best?

I think I did well today

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

20210824 Pre­mar­ket Prep DAX

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