Bear Market Trader | Premarket Prep DAX - London session
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20220207 Premarket Prep DAX

20220207 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DAX. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing just below last week’s body

Click to Enlarge

Sen­ti­ment

  • Nar­ra­tive
    • Price trad­ing at D1 QLo
    • H4 Bull Engulf at D1 QLo although fail­ing to close above H4 QLo
    • Prev. Day Exceed­ed ADR by 1.63
    • Trend is DOWN 2/3
    • ADR 0.5 Low just below VAL and above VAH
  • LN open
    • Open With­in Value
  • Mar­ket Profile
    • Very wide val­ue cre­at­ed in DT
  • Clar­i­ty (1–5, 5 being best)
    • 2
  • Hypo 1
    • Long
    • Failed Auc­tion
  • Hypo 2
    • Short
    • Failed Auc­tion
  • Hypo 3
    • Short/Long
    • Bal­anc­ing Mar­ket play, take ear­ly profits
  • Hypo 4
    • Short
    • Late-Sus­tained Auction

Addi­tion­al notes

  • N.A.

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay, although first day back after hol­i­days so take it easy

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
    • No ear­ly exits
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Process
    • Keep trade review com­ments short
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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