How did I trade today? 20210618

Sum­ma­ry: Process is king

#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 goals: 

• Min. 3 times work­ing out at home + manda­to­ry cardio
  • I did all my work­outs this week
• Trad­ing rules
  • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
    • I did well here
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
    • I am get­ting bet­ter at scal­ing SL
• No social media / mes­sen­ger apps / phone calls allowed dur­ing the trad­ing window
  • Doing well with this for the most part but could be better. 

Good Pre-mar­ket routines

Good Ses­sion PECS

Fair 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): 2

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Summary — London

• DAX
  • 1st DTTZ
    • Price accept­ed and rotat­ed through val­ue tra­vers­ing 0.58xASR. Then extend­ed down in C before clos­ing with­in IB
  • 2nd DTTZ
    • Price closed twice with­in IB, M15 Con­sol­i­da­tion and RBR so I tried a long based on a failed auction.
    • Long 15700, SL 15685, TP 15730
    • Got stopped out imme­di­ate­ly. ‑1R. I’m done for the day. 

• GOLD
  • 1st DTTZ
    • IB trad­ed 0.58xASR to VAL, C extend­ed above IB clos­ing as a pos­si­ble base with­in IB right at the edge.
    • D TPO closed with­in IB as a Bear Engulf leav­ing a weak sell­ing tail in C at VAL, going short as per Hypo 3
      • Short 1791.090, SL 1795.080, TP 1785.10 1.5R above LTF demand at IB low
  • 2nd DTTZ
    • F extend­ed above IB in what looks like a pop and took out my SL ‑1R. 

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DAX — London

• 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
  • Val­ue Accep­tance (short), demand with­in val­ue, not good TP
  • 100% cor­rect
• Hypo 3 
  • Failed Auc­tion Long, after hypo 2
  • 100% cor­rect
• Hypo 4
  • Auc­tion Fade Long at H4 demand
  • 100% cor­rect

What hap­pened around the 1st DTTZ? Which Hypo played out (if any)?

Price accept­ed val­ue dur­ing IB and rotat­ed through. C extend­ed below and then failed auc­tion some­what weakly.

What hap­pened around the 2nd DTTZ? Which Hypo played out (if any)?

Price shot down and kept going but had a slight pull­back before continuation. 

What was the play of the day?

Sus­tained Auc­tion down

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

Yes and no. The failed auc­tion well failed and sus­tained auc­tion to the downside. 

Was there an oppor­tu­ni­ty and did I take it?

There was and I did. Down ‑1R with SL hit. 

DTTZ: 2nd

Entry: M15 con­sol­i­da­tion and break higher

Prof­it Mar­gin (ADR or con­ges­tion): Plen­ty at IB high but would have tak­en M30 VWAP. 

What would a price action exit rule have done?

N.A.

How was SL place­ment and Siz­ing (Was there a need for scaling)?

I scaled below M15 for­ma­tion which was okay. 

What would time-based have done?

N.A.

What could I have done better?

I think I did okay for try­ing a failed auc­tion play. At least I’m tak­ing more trades now and don’t seem to be anx­ious too much. 

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

I felt good. Not much to note. 

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GOLD — London

• 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
  • Failed Auc­tion Short, probe of value
  • 70% Cor­rect

What hap­pened around the 1st DTTZ? Which Hypo played out (if any)?

Price trad­ed high­er to VAL and extend­ed in C then formed a Bear Engulf with a weak sell­ing tail in C. 

What hap­pened around the 2nd DTTZ? Which Hypo played out (if any)?

Price trad­ed high­er before return­ing back to IB.

What was the play of the day?

A very flim­sy failed auction

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

Hypo 3 kin­da played out. 

Was there an oppor­tu­ni­ty and did I take it?

I did but then got stopped out ‑1R.

What would a price action exit rule have done?

N.A.

How was SL place­ment and Siz­ing (Was there a need for scaling)?

Above for­ma­tion. Good. 

What would time-based have done?

N.A.

What could I have done better?

I think I did okay to try and take the trade. 

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

I felt good. Noth­ing much to note.

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

I did well here. I stayed calm and col­lect­ed going through my OODA loops and stuck with my trade. 

What did I learn today?

That I can take trades and stay objec­tive with­out grasshoppering. 

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

Take trades and go through OODA loops. 

What’s one (or more) thing(s) I need to do less often?

Wor­ry about out­come of any sin­gle trade.

Under the cir­cum­stances, did I per­form at my best?

I think I did okay. 

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

20210618 Pre­mar­ket Prep Gold

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20210618 Pre­mar­ket Prep DAX

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