Daily Report Card 06042020 - Bear Market Trader
Daily Report Card, CPT, Consistently Profitable Trader, day trading, swing trading, road to success, road to becoming a CPT,
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Daily Report Card 06042020

Daily Report Card

Daily Report Card 06042020

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): 2

Sum­ma­ry: Mean Reversion

  • Lon­don open below valueM30 Bear Engulf dur­ing IB, move away from H4 new sup­ply, IB exten­sion down tak­ing out M30 Demand
    • Entry short 1.94984 SL 1.95244 TP 1.94463
    • Return to new­ly formed H1 c sup­ply 1.95202 and M5 Evening star formed (2nd chance entry) but still trad­ing with­in IB
    • M30 DBD and TPO print­ing LLs and E open­ing in low­er extension
    • Stopped out at 1.95289
  • 2nd attempt short. Entry 1.95251 SL 1.95627 (above M30 sup­ply) TP 1.94712
    • Rea­sons for tak­ing the trade. 1 hour past with not tak­ing price high­er. M5 con­sol­i­da­tion and bear engulf just above H1 con­ter­mi­nous supply
    • Scratched trade at 1.95269

How accu­rate was my assess­ment of mar­ket context?

  • Did fair­ly well here but had to be point­ed out to the valid­i­ty of the M5 con­sol­i­da­tion being a valid entry point. I assumed since it had crossed over H1 c sup­ply I couldn’t act on it. But this com­bined with price not hav­ing moved in an hour I could go short. Which I did. 

How did I feel before, dur­ing, and after the trade?

  • I felt good before the trade going in with clear under­stand­ing of the setup
  • Dur­ing the trade I felt that more momen­tum on the trade would have been great and since there was a lack of I start­ed to think it would go against me. When VWAP was crossed I ‘knew’ it was going to against me but I stayed with the trade fol­low­ing TPO struc­ture as trade management
  • I feel good in hav­ing fol­lowed the rules

How well did I fol­low my process?

  • I did good here but was late to rec­og­nize the new­ly formed H1 C line and had to be point­ed out to that. I will make it part of my process to use OODA for going through sev­er­al time­frames and reassess my stance on my position. 

How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?

  • Did well here

What did I learn today?

  • The need to use OODA for scan­ning through time­frames. I added this to my process plan and will start tomor­row with imple­ment­ing it. 

What’s one thing I need to do more often?

  • Be patient in a trade to not grasshop­per around

What’s one thing I need to do less often?

  • Only focus on low­er time­frames + H4. Con­sid­er H1 as well. 

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


Day trader. Tech geek. Sim Racing Enthusiast.

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