How did I trade today? 20220318

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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 target

1–3 (3 being good)

3 Pre-mar­ket routines

1 Ses­sion PECS

1 Clar­i­ty — in tune with price

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DAX — What Mar­ket Nar­ra­tive Played Out? (Keep it short!)

• Tried a long based on Hypo 1. Didn’t take and closed off trade when price extend­ed to the oppos­ing side for ‑0.7R.
• Hypo 2 failed auc­tion, pos­si­ble 3‑I Day. 
• Couldn’t get in on the failed auc­tion. Per­haps a M5 entry would’ve been pos­si­ble. Will review tomorrow.
• Hypo 4 played out dur­ing G TPO with a quick move to near IB low which I missed. M5 wasn’t too strong and M15 closed as a con­sol­i­da­tion. This was one of the few times I wit­nessed a 3‑I day coin­cid­ing with an auc­tion ade dur­ing 2nd DTTZ. I’ll review it tomorrow. 
• Price then con­tin­ued low­er clos­ing as a H4 Bear Engulf clear­ing the range.

Gold — What Mar­ket Nar­ra­tive Played Out? (Keep it short!)

• Hypo 1 short VAL Rever­sal, Pos­si­ble Failed Auc­tion played out dur­ing D TPO but there was no way to get in plus with IBR being tight there was no good prof­it margin.
• Price extend­ed to the down­side form­ing a Neu­tral Day. 
• H4 closed as a Bull Engulf with longer buy­ing wick.

Did I take advan­tage of any opportunities?

• DAX
  • Tried a long as per hypo 1. Didn’t take. ‑0.7R
• Gold
  • Did not see a good enough oppor­tu­ni­ty to cap­i­tal­ize on

Things I did well:

• I did well to stay objec­tive when the trade went against me. Focused on what I did and did not want to see. Then act­ed on it. 
• Did well to stay out of Gold as noth­ing good materialized. 

Things I need to keep work­ing on:

• DAX: H4 bull engulf had not cleared the H4 con­sol­i­da­tion range and thus was not a strong direc­tion­al sign and thus the oppos­ing side should’ve been con­sid­ered more heav­i­ly. I will review this tomorrow. 
• Trust your gut. I saw an oppor­tunis­tic 2nd DTTZ pullback/countertrend oppor­tu­ni­ty and I let it go. Will review tomorrow. 

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

20220318 Pre­mar­ket Prep DAX

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20220318 Pre­mar­ket Prep Gold

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