24 Apr Daily Report Card 04232020
My weekly goal
Only take trades when there are at least 3 confluences. Trade location. Market Profile. Price action confirmation.
Combined Score 85
Process Report Card (10 each)
10 Pre-market routines
10 Session PECS
10 Trading the process
0 Daily review
10 Progress toward Weekly goal
Performance Report Card (10 each)
10 Real-time analysis
5 Trade selection
10 Trade Execution & Mgmt.
10 Risk Adjusted Returns
How accurate was my assessment of market context?
None of my hypos played out. I should have paid more emphasis on the M30 chart showing a strong possibility of more buyers coming in. Took this into my review and will incorporate it into my playbook tomorrow.
Hypo2 played out about 80%. We stayed in balance and thus there were no opportunities to trade today.
How well did I follow my process?
I did well following my process. Although I should have put more emphasis on the lower time frames indicating more buying coming. Nonetheless, I did great in letting the trade play out. Sadly it hit my stop loss. Part of the game.
How well did I manage my physical, emotional and cognitive states?
I did great here.
What’s one thing you learned today?
I am OK with taking a loss. It doesn’t matter when treating one trade as part of a larger data set.
What’s one thing I need to do more often?
Follow my routine. Take my stops.
What’s one thing I need to do less often?
Focus just on higher time frames. If the lower time frame tells a different story then go with that.
For my trade plan(s) on this particular day with comments below, go here: