08 Jun How did I trade today? 20210608
Summary: Systematically go through OODA loops
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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:
- 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
- Price traded lower within value forming a DBD testing VAL (after testing VAH) after coming from a reversal at D1 C‑sup in premarket.
- C created a Bullish Inside bar with no IB extension. D formed a Base and E took it higher
- 2nd DTTZ
- F extended IB and went in long for a potential value rejection as per hypo 3. Long 1.96233, SL 1.96033, TP 1.1.96633 (2R) I’ll consider taking some off at 1R.
- Price pulled back to IB edge after making a HH in G. There is a H1 Three Inside Up that could hold if price can close above IB and bullish on M30.
- G closed right at IB edge as a Bearish Inside Bar but M4 did not close within M5 demand there could be another push. Especially considering G made a HH and not much of a selling tail.
- H traded higher forming a poor high and closed as a M30 consolidation although bullish. H4 closed as a Bull Engulf. Letting it go for a little longer. I TPO has tested poor high now.
- I TPO is testing IB edge again. Then took it out by one TPO and closed as a bullish hammer forming a RBR
- J tested IB again and automated cut off took my trade off at ‑0.5R (forgot I still have that on)
- 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 — Value Rejection Up
- Narrative: Trend is up, no significant break away from D1 Bearish inside Bar or close below D1 QHi, possible H4 VWAP BD to CAR ie move higher to test VWAP after it broke down on H4
- Preferred: Strong close above VAH coinciding with a break of IB, sustained auction testing deeper in D1 Supply
- Con: D1 Supply
- Variation: Fading the auction after a potential reversal at ADR 0.5 High
- 90% correct
- Hypo 1 — Value Rejection Up Failure
- Narrative: Open sentiment, further balancing, D1 c‑sup is above value, within range, Possible continuation to W1/D1 bearish narrative
- Preferred: test of D1 C‑sup preferably without an extension (otherwise there could be a rejection of value), strong bearish PA, possibly monitor for an extension down which could make for a value rejection down.
- Con: Old H4 demand below VAL, slightly outside of range
- 100% correct (outside of Trading Window)
What happened around the 1st DTTZ? Which Hypo played out (if any)?
Price traded higher but did not extend IB
What happened around the 2nd DTTZ? Which Hypo played out (if any)?
IB got extended to the upside technically rejecting value in F. Price then consolidated and formed a Poor High structure before reversing in J TPO.
What was the play of the day?
Value Rejection Up Failure. Even though price initially technically rejected value it failed to make HHs and reversed back down after my normal trading window closed.
Was I right on the outcome? Which Hypo played out and why was it not Hypo 1 (if any)?
Yes I was.
Was there an opportunity and did I take it?
There was an opportunity and I did take it.
DTTZ: 2nd DTTZ
Entry: IB break up
Profit Margin (ADR or congestion): 0.5R at D1 C‑sup
What would a price action exit rule have done?
Automatic cut off at ‑0.5R
How was SL placement and Sizing?
Good due to the expected momentum
What would time-based have done?
N.A. as I traded well into overlap noise
What could I have done better?
I think I did well to stick with the trade. Been a long time that I stuck with a trade this long so it felt really good going through the OODA loops systematically.
How did I feel before, during, and after the trade?
I felt okay actually. Still do. Happy I took the trade and stuck with it making objective decisions.
How well did I manage my physical, emotional and cognitive states?
I did well here focusing on OODA loops.
What did I learn today?
That I can remain calm focusing on OODA loop and it did not bother me the trade went against me as I was following trading rules.
What’s one (or more) thing(s) I need to do more often?
Follow my process. Keep a clear head going through OODA loops. Keep M30 and profile as my guide.
What’s one (or more) thing(s) I need to do less often?
Worry about one trade.
Under the circumstances, did I perform at my best?
I did well today
For my trade plan(s) on this particular day, go here: