08 Jul How did I trade today? 20210708
Summary: Progress, not perfection
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A small summary of how I did during the session. Things I did well. Things I need to keep working on. Trade Reviews are part of my post-mortem but usually I post those the next day.
My weekly goals:
- Min. 3 times working out at home + mandatory cardio
- Trading rules
- M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
- Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
- No social media / messenger apps / phone calls allowed during the trading window
Good Pre-market routines
Good Session PECS
Bad 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): 3
- IB traversed higher 1.08xASR accepting and rotating through value. B closed as a slight Bull Engulf with long selling wick.
- IB traversed down 0.95xASR. C extended below but closed within. D failed to make a LL and a M15 Inside Bar was formed. I was hoping for a Bullish Inside Bar to get an early entry on a possible FA. When this didn’t happen I looked for an initial push higher, possible an entry off M30 when it would close. When price pulled back to about where I was gonna go in, I went in anyway.
- Long 15500 SL 15464.50 TP 15572.58 (2R) but depending on how it goes I’ll probably take 1R
- M30 transitioned into a Bullish Inside Bar failing auction. Letting this go on for a bit.
- Due to lack of buying tail I lost the confidence in the trade and at a pullback to entry level I scratched the trade. This should have been TPO periods ducking below IB.
- IB traded higher exhausting ADR.
How well did I manage my physical, emotional and cognitive states?
I did well here. I took what I thought was a good trade but then cut it. Luckily as the trade would have stopped me out. This way I scratched the trade at zero loss.
What did I learn today?
I learned that a failed auction should preferably not have multiple TPO periods duck below IB. In that case the opposite direction can be taken. Plus Asia had traded down. So did London making a higher probability for a unidirectional day especially when at a D1 QHi.
What’s one (or more) thing(s) I need to do more often?
Take educated guesses. Make mistakes. Review and learn.
What’s one (or more) thing(s) I need to do less often?
Not forget about the context of the price structure.
Under the circumstances, did I perform at my best?
I did okay today.
For my trade plan(s) on this particular day, go here: