Summary: D1 narrative trumps open sentiment
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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:
- Trading rules
- Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
- No early exits, either hit SL or 2R target
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
Notes
Gold
- IB extended down in C and I am looking for a potential late-sustained auction entry through a sell limit order below IB at 1817.
- Took the sell limit order off as E has made a Poor Low and no attempt to break high of D TPO.
- Price continued lower the sustained auction and I considered an entry off M5 in line with a potential M30 DBD but I decided against it and to record it for my forward-testing notes.
DAX
- C extended below IB probing value almost rotating through value but then closed within IB.
- Used a M15 Supply zone for an early entry expecting a sustained auction down in line with a possible retracement of yesterday’s move.
- Short 15908.28, SL 15925.82 (tighter sl at 1750 pips), TP 15873.14 (2R)
- D closed as a possible base within IB. M15 Bearish Inside Bar
- Price hit 1.9R and I almost took it off but letting my stop get hit is the exercise so that is what I will do.
- Price hit 2R
How well did I manage my physical, emotional and cognitive states?
I did well today. The exercise is helping me manage my emotions as well. It’s simple. Either hit 1R loss or hit 2R profit. Nothing in between.
Clarity
Hypo 1
VAA, Sustained Auction Down, preferred late-sustained auction entry
I did well today. I decided the D1 narrative trumped waiting for an acceptance of value to go short. SO I got in early at a M15 supply for a better entry.
What did I learn today?
I reaffirmed that I can read the narrative and execute on my hypo.
What’s one (or more) thing(s) I need to do more often?
Execute on taking trades and let exit rules play out so that I can collect data on if my trades are actually worth taking without any optimization.
What’s one (or more) thing(s) I need to do less often?
Worry about the outcome.
Under the circumstances, did I perform at my best?
I did well today.
For my trade plan(s) on this particular day, go here: