27 Jan How did I trade today? 01272021
Summary: Return to Value
Account (P&L): +1R (PT)
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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:
- Only take trades according to a hypo unless multiple conditions are met
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
- IB: A closed as Bear Engulf with equal long selling and buying wicks traversing 0.5xASR.
- C: Extended below IB but closed within IB although no confirmed price action reversal, M15 did close as bullish inside bar (on the hour). Due to D1 DBD narrative I believe this might get overridden.
- Paper Trade: Short 1845.050 SL 1849.545 TP (1R) 1840.555
- D: Closed as spinning top with slightly longer selling wick all within IB
- E: Weak Bull Engulf
- F: Slight move higher within IB
- G: Drop down below IB
- H: Position would have hit 1R. Time-based it would have been 0.9R. HJ closed trading lower with longer buying wick reacting off W1 C‑dem
Hypos — GOLD
- 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 — Return to Value
- Preferred: Failure to accept value, price action confirming reversal, IB extension down with sustained auction.
- The sustained auction came but after failing auction first albeit somewhat weakly.
How accurate was my assessment of market context? Was I aligned with market context?
- I did well here. Based on the D1 narrative I came up with hypo 2 and watched price action play out somewhat accordingly. I did not take a real trade as it posed some risk and I would only focus on taking ‘cleaner’ setups.
How did I feel before, during, and after the trade?
- I did well here
How well did I follow my process?
- Trade selection
- Trade was good and hit 1R target during H
- Trade Sizing & SL placement
- Based on the entry momentum was surmised and expected (although with January being such a weird month I did not expect it to be honest). So SL placement was okay as it was above the DPOC.
- Trade Execution & Mgmt
- 1R was hit so all good here.
How well did I manage my physical, emotional and cognitive states?
- I did okay here. I am otherwise distracted IRL 🙂 so I did well to be extra cautious.
What did I learn today?
- I don’t need to make trades to feel like a trader. I am a day trader. My job is to make good decisions at the best of my abilities. My edge will take care of the rest.
What’s one thing I need to do more often?
- Stay objective.
What’s one thing I need to do less often?
- I did well today.
Under the circumstances, did I perform at my best?
- I did well here
For my trade plan(s) on this particular day, go here: