How did I trade today? 20210519 - Bear Market Trader
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How did I trade today? 20210519

How did I trade today? 20210519

Sum­ma­ry: Trend Con­tin­u­a­tion right into W1 Sup­ply exhaust­ing ADR

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

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: 

  • Min. 3 times hit­ting the gym + manda­to­ry cardio
    • In lock­down now
  • Trad­ing rules
    • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
    • Only price-action based exit rules (or if hit time stop comes earlier)
      • Oth­er­wise a Bart Simp­son exercise

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

    • 1st DTTZ
      • W1/D1 Sup­ply popped in C TPO then closed high­er just below W1-C‑S 1.96840
      • D closed as a sus­tained auc­tion above IB clos­ing as a Ham­mer with buy­ing wick test­ing IB high. H4 Marubozu bull­ish can­dle. E formed a poor High then soon after got tak­en out. Still don’t feel con­fi­dent trad­ing into a W1 sup­ply. E closed test­ing IB high as anoth­er Hammer
    • 2nd DTTZ
      • Pos­si­ble some­what weak Sell­ing tail in F if F can close down fail­ing auc­tion com­bined with a 4 TPO struc­ture there could be that rever­sal I’ve been wait­ing for. Nope. There was a RBR slight­ly exhaust­ing ADR. 
      • G formed a M15 Bear Engulf (not on the hour) and tran­si­tioned to M30 Bear Engulf. H took it slight­ly lower 

  • 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 1 — Trend Continuation
    • Nar­ra­tive: H4 closed high­er, open sen­ti­ment, larg­er time­frame bull­ish sentiment
    • Pre­ferred: Strong Bull­ish PA with IB exten­sion up, sus­tained auc­tion exhaust­ing ADR. Oth­er­wise a pull back towards val­ue edge before poten­tial­ly fail­ing auc­tion and move higher.
    • Con: W1 Sup­ply not far away
    • 100% cor­rect

How accu­rate was my assess­ment of mar­ket con­text? What were the cir­cum­stances of the devel­op­ing nar­ra­tive? How did they devel­op accord­ing to DTTZ?

I did well on my hypo even though there was a near­by W1 sup­ply the direc­tion was right. IB exten­sion up in C with a sus­tained auc­tion although price did­n’t tra­verse far.

What was the play of the day?

Trend Con­tin­u­a­tion

Was I right on the out­come? Which Hypo played out and why was it not Hypo 1 (if any)?

Yes I was right on Hypo 1

Was there an oppor­tu­ni­ty and did I take it?

I did not feel com­fort­able to trade right into W1 sup­ply and thus I let the trade go as it did not give a good prof­it target.

What could I have done better?

I did well to stay out even though I was eye­ing a poten­tial late-sus­tained auc­tion entry off IB high. 

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

No trade taken

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

I did well here. 

What did I learn today?

That I can be right on the out­come but pre­serv­ing men­tal cap­i­tal is impor­tant as well. The oppor­tu­ni­ty as it stands now would not have yield­ed much. 

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

Fol­low my process. 

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

Wor­ry about tak­ing trades. I know when to exe­cute most of the times and I should trust my trad­ing skills to iden­ti­fy good oppor­tu­ni­ties. If there was indeed an oppor­tu­ni­ty that I missed I have process­es in place to try and catch them next time. 

Under the cir­cum­stances, did I per­form at my best?

I did

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


Day trader. Tech geek. Sim Racing Enthusiast.

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