Bear Market Trader | Daily Report Card
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Daily Report Card 08182020

Daily Report Card 08182020

#dai­lyre­port­card #day­trad­ing #trad­inglifestyle #day­trader­life #grasshop­per­sanony­mous #trad­ing­forex #trad­ing­com­modi­ties #NEXT

Sum­ma­ry: The proof is in the pudding.

Every trad­ing day I recap my trades, includ­ing more than entries and exits. Why did I take the trade? How did I man­age the trade, my emo­tions and cog­ni­tive func­tion? All the good stuff as well as all the ugly of being a day trad­er. As always, feel free to reach out to me. 

My week­ly goal: Align with Mar­ket Narrative

Good Pre-mar­ket routines

Good Ses­sion PECS

Good Trade selec­tion

Good Trade siz­ing or SL placement

Good Trade Exe­cu­tion & Mgmt.

Good Risk Adjust­ed Returns

Yes Dai­ly review

Mup­pet meter (1 being best — 5 being worst): 1

Sum­ma­ry: The proof is in the pudding.

  • GBPNZD (Nor­mal Day Type)
  • LN Open above val­ue out­side range, hit ADR exhaus­tion and H4 C‑Sup dur­ing IB, IB closed as M30 Bear Engulf how­ev­er due to a low­er time frame demand ZOI right at VAH and ADR being exhaust­ed quite near val­ue I lack clar­i­ty as well as a good prof­it tar­get for a short. Hence NO TRADE
  • C: closed below the bear engulf as a pos­si­ble base, M15 bear engulf, 
  • D: Slight IB exten­sion down clos­ing as M30 DBD, M15 con­sol­i­da­tion and Bear Engulf, H1 Inside bar and con­tin­u­a­tion down indi­cat­ing a pos­si­ble play for val­ue accep­tance although with val­ue being tight (and with low­er time­frame demand right at VAH) com­bined with larg­er time frame bull­ish sen­ti­ment it could very well be a failed auction
  • E: E made a buy­ing tail at VAH and closed with­in IB, How­ev­er M30 does not show a bull engulf M15 does (on the hour). A weak­er failed auc­tion imo. Fur­ther­more, there are low­er time frame sup­plies caus­ing con­ges­tion so not a clear trade long. Even though the posi­tion­ing and sen­ti­ment could sug­gest a return to val­ue play with ADR exhaus­tion dur­ing LN indi­cat­ing a pos­si­ble con­tin­u­a­tion on pro­file sen­ti­ment even though the medi­um imbal­ance (open out­side of val­ue and range)
  • F: Even though F closed not mak­ing a LL it also closed as a weak M30 bear engulf as fourth can­dle in a con­sol­i­da­tion, H1 weak doji (pos­si­ble base or rever­sal) 5 TPO struc­ture made at the bot­tom of IB range
  • G: M30 price action not real­ly con­firm­ing a rever­sal around this lev­el but instead a con­tin­u­a­tion of the con­sol­i­da­tion so don’t think much will hap­pen the remain­der of the session. 
  • H:H closed as M30 and H4 Bear Engulf 

Week­ly Goal Achieve­ment: Align with Mar­ket Narrative

  • I did well here. Even though my hypo on ADR exhaus­tion and mean rever­sion played out it was not far way from val­ue to make for a good prof­it tar­get. Anoth­er hin­drance here was the low­er time frame con­ges­tion espe­cial­ly at VAH. 

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

  • No trades tak­en. I felt good though. 

How well did I fol­low my process?

  • Did well here

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

  • Did well here

What did I learn today?

  • From now on I will sum­ma­rize hypos and track which one played out to build up stats

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

  • Stay the course. Trust your­self. You know what is going on. Always stay hon­est with your­self. No mat­ter how ugly it is. Truth is my men­tal clar­i­ty is as good as back. Words are cheap though. The proof is in the pudding.

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

  • Wor­ry about the speed of which I am progressing. 

Under the cir­cum­stances, did I per­form at my best?

  • Did well here

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


Day trader. Tech geek. Sim Racing Enthusiast.

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