Latest Posts
Bear Market Trader | Daily Report Card
Daily Report Card, CPT, Consistently Profitable Trader, day trading, swing trading, road to success, road to becoming a CPT,
3797
post-template-default,single,single-post,postid-3797,single-format-standard,locale-en-us,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.11.2.1,vc_responsive
 

Daily Report Card 12012020

Daily Report Card 12012020

#dai­lyre­port­card #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #day­trad­ing #day­trader­life #trad­inglifestyle #grasshop­per­sanony­mous #trad­ing­forex #trad­ing­com­modi­ties #GBPNZD #NEXT

Sum­ma­ry: ASR too tight — Observ­ing and tak­ing notes

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: 

  • Don’t take trades where SL place­ment is sub­op­ti­mal. Instead, reassess for a bet­ter entry if possible. 

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

  • GBPNZD
    • C: Extend­ed down from IB clos­ing as Bear Engulf below IB. 
    • D: Closed low­er extend­ing about 1x IB range
    • E: Made LLs.
    • F: Made LLs then closed as a Bull Engulf and weak failed auction. 
    • G: Closed as an Inside Bar 
    • H: Three Inside Down

Hypos

  • 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?
  • GBPNZD
    • Hypo 1 – Swing Reversal
      • Pre­ferred: PA rever­sal con­firmed, IB exten­sion down. Mon­i­tor for val­ue acceptance. 
      • 100%

How accu­rate was my assess­ment of mar­ket con­text? Was I aligned with mar­ket context?

  • I did well to stay out. There is a rea­son why too tight aver­age ses­sion range is not con­ducive for my edge to play out. Although, I could have trad­ed I rather have ‘clean­er’ price action. 

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

  • No trades

How well did I fol­low my process?

  • I did well here

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

  • I did well here

What did I learn today?

  • Proof that there is a rea­son for a wider aver­age sea­son range before get­ting involved. I’ve observed this before but thought per­haps I can make some sense of it and find an opportunity.

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

  • Trade my edge and only my edge. All the rest is noise unless I have observed a con­di­tion many times over and spot­ted a prob­a­bilis­tic opportunity. 

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

  • Care about not trad­ing. The mar­ket giveth when­ev­er it giveth 🙂 

Under the cir­cum­stances, did I per­form at my best?

  • I did well here

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

No Comments

Post A Comment