22 Sep Daily Report Card 09222020
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Summary: Be more mindful of HTF ZOIs
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: Formulate hypos in order of likelihood and track with actual development on the day
Good Pre-market routines
Good Session PECS
Bad 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): 2
- C: Momentum based entry: Long 1.92299 SL 1.91998 TP 1.92898 based on Hypo 2, looking for sustained auction
- D: Took out single prints in C returning to IB high and M5 consolidation plus break down (M15 inside bar) so manually took the trade off for ‑0.3.
- A con is the poor high that was formed
- D closed above IB high forming an inside bar
- E: Three Inside Down closing within IB, failed auction. Didn’t close right into the newly formed bull engulf so thinking we might have a pullback for a better entry for a short.
- F: F moved lower through IB but not fully yet though. Closed returning to VAH but no value acceptance.
- G: Closed as an inside bar at VAH
- Which hypo played out and how did I hypothesize it playing out? How did it actually play out? What did the profile and price action show?
- Hypo 2
- Hypo 2 – Return to Value
- Failed value acceptance, price action confirming reversal
- Big rejection of value followed by a M30 Bull Engulf extending IB up. Followed by no follow-through and failed auction formed with a Three Inside Down.
- Hypo 2
How accurate was my assessment of market context? Was I aligned with market context?
- I did well here
How did I feel before, during, and after the trade?
- I felt a bit jumpy during the trade I was in so started lifting some weights.
How well did I follow my process?
- I did okay I’d say. Although my entry on the momentum play could have been better. I did it manually instead of a buy stop order. I think the reason for this was that I initially had a bearish sentiment due to H4 c‑sup and a return to previously formed H4 base at 1.91561. When rotating through I expected a further follow-through down on the move just not entirely when. I failed to realize that it had already rotated to its origin point and I should have dismissed this. I took notes of this and will pay more attention next time.
- I thought I did well to not take the trade short on the Three Inside Down due to my SL cutting through the candle formation. It is in my experience that when that happens 9 out of 10 I should not be in the trade. Then I realized later that a failed auction is a form of momentum trade as well meaning either it moves through IB within 2 TPOs or it is not going to happen.
How well did I manage my physical, emotional and cognitive states?
- I did well here
What did I learn today?
- Price was extra fast today. In my experience this happens when we are at HTF level and LTF people get shaken out.
What’s one thing I need to do more often?
- Keep learning. Progress, not perfection.
What’s one thing I need to do less often?
- Doubt my observations.
Under the circumstances, did I perform at my best?
- I did okay
For my trade plan(s) on this particular day, go here: