29 May Daily Report Card 05292020
My weekly goal
Only take trades when there are at least 4 confluences. Trade location. Market Profile. Price action confirmation. Follow hard entry and exit rules.
Good Pre-market routines
Good Session PECS
Good Trade selection
Good Trade Execution & Mgmt.
Good Risk Adjusted Returns
Yes Daily review
Muppet meter (1 being best — 5 being worst): 1
Summary: Inside Value Day
- London open within value and traded throughout my trading window inside value. When it broke out of it my window had passed.
How accurate was my assessment of market context?
How did I feel before, during, and after the trade?
- No trades taken today
How well did I follow my process?
How well did I manage my physical, emotional and cognitive states?
What did I learn today?
- I learned that on Fridays a potential move can come later in the session
- I learned that phase 1/3 won’t be likely to happen on medium/high time frames after a big move preceding it. Today it is more likely that the H4 price action (and MP bracketing) is due to a phase 1 accumulation since it came at the end of a big move and hence the more likely scenario is that price will go up (into phase 2). This is also in line with potential profit-taking at the end of the week.
What’s one thing I need to do more often?
- Keep coming back and learn more
What’s one thing I need to do less often?
- I did well today
For my trade plan(s) on this particular day, go here: