03 Jun How did I trade today? 20210603
Summary: Trend Continuation with moderate to large imbalance at the open
#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 working out at home + mandatory cardio
- Trading rules
- Focus on taking ONE trade a day. If I missed the first DTTZ then a trade needs to be taken on the 2nd DTTZ unless there is a high/medium initiative activity day.
- Only price-action based exit rules (or if hit time stop comes earlier)
- M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
- Buffer trades (profit target >1R) are allowed and encouraged
- 13 trades by the end of the month
- No social media / messenger apps / phone calls allowed during the trading window
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
- IIB traded lower only traversing 0.17xASR. C closed above IB as a Bul Engulf in for now a sustained move although due to open sentiment price could reverse in mean reversion fashion. Will wait for one more TPO to assess.
- D made HHs taking out the old H4 Supply. E made HHs and it looks like a sustained auction
- 2nd DTTZ
- F did not make HH but G did by one TPO for now.
- 1st DTTZ
- 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 3 — Trend Continuation
- Narrative: Direct continuation to H4 narrative,
- Preferred: IB extension Up, possible Late-sustained auction entry
- Con: Suspect to say the least due to open sentiment although 0.57xASR could fall within the possibility of strength behind the move if IB backs up the narrative.
- 100% correct
What happened around the 1st DTTZ? Which Hypo played out (if any)?
There was an extension in C TPO then D briefly tested IB high before continuing higher.
What happened around the 2nd DTTZ? Which Hypo played out (if any)?
Low initiative sustained auction higher throughout the rest of the session.
What was the play of the day?
Was I right on the outcome? Which Hypo played out and why was it not Hypo 1 (if any)?
It was hypo 3 that played out. Due to the open sentiment I thought it would be less likely but I stand corrected.
Was there an opportunity and did I take it?
There was an opportunity but due to the open sentiment I did not want to go long off of an IB break. I was looking to join the auction with a late-sustained auction entry. Although the only test of IB edge was during D and I had decided to wait for one more TPO to gain more understanding if there would be a sustained auction.
What could I have done better?
I think I did well today
How did I feel before, during, and after the trade?
No trades taken
How well did I manage my physical, emotional and cognitive states?
I did well today
What did I learn today?
That due to D1/H4 bullish narrative (with trend being up) there can still be a trend continuation with a moderate to large imbalance at the open.
Also with a tight IBR a failed auction play would be a subpar setup
What’s one (or more) thing(s) I need to do more often?
Trade my plan.
What’s one (or more) thing(s) I need to do less often?
I did well today
Under the circumstances, did I perform at my best?
For my trade plan(s) on this particular day, go here: