How did I trade today? 20210830

Sum­ma­ry: Com­mit to your exit rules 

#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

• IB trad­ed high­er. C closed as a Marubozu can­dle above IB and Asia/Friday’s high. 
• Try­ing a long off the break of IB:
• Long: 15892.30, SL 15864.80, TP 15947.30
• D made a HH already so now let’s wait and see if it can close high­er as well. Oth­er­wise a poten­tial failed auction. 
• D closed as a Drag­on­fly Doji, expect­ing a pos­si­ble RBR. E made a HH but I’ll need a close above IB to stay with the trade for a sus­tained auction. 
• E closed with­in IB even though after hav­ing made a HH but I choose to close off the trade for ‑0.3R.
• Now stalk­ing a poten­tial bet­ter entry on a Failed Auc­tion setup. 
• Wait­ed for a pull­back to the new­ly formed M15 Bear Engulf to go short. Caught a pull­back and am now short
• Short 15887.83, SL 15902.85, TP 15844.13 (2.9R)
• F closed as a con­sol­i­da­tion above IB. Sus­tained Auc­tion might still be on poten­tial­ly. H1 now closed as a Drag­on­fly Doji. No HH mad.
• G closed as a Inside Bar and H final­ly dropped and formed a H1 Evening Star.
• For some rea­son all the let­ters and num­bers stopped work­ing on my key­board and am deal­ing with that now. Uninstalling/reinstalling key­board dri­vers did not work. A sim­ple reboot did however.
• I took 0.7R as I had got­ten anx­ious for all the time price had ducked above IB (even with­out mak­ing a HH).

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

I think I did well to stay objec­tive. I got a bit anx­ious but I did well to go through OODA loops and com­mit to the trades.

Clar­i­ty

Even the first trade I think I did well. Price extend­ed and closed as a Marubozu can­dle above IB / Asia and Friday’s high. One thing I will take into my review tomor­row is that I believe I could’ve entered on a strength with­in IBR set­up instead of wait­ing for break of IB.

Then fair­ly quick­ly I went short against the first trade. Even though I imme­di­ate­ly regret­ted it tbh, because of the HH hav­ing been made pre­vi­ous­ly and think­ing I had cut the first trade too soon and E had closed kind of weak. I did well to com­mit to the trade and stick with it going through OODA loops. 

What did I learn today?

I learned that I can, rather quick­ly, change my bias and go in the oppo­site direction. 

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

Take chances on trades. It’s okay to lose a trade as you can learn from them. 

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

Wor­ry about tak­ing a hit. Once in a trade stick to the trade and fol­low exit rules. Like today this helped me from grasshop­per­ing out of the trade and tak­ing a loss. This way I still end­ed up for the day. 

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:

20210830 Pre­mar­ket Prep DAX

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