05 Aug How did I trade today? 20210805
Summary: Keep in mind the right strategy for the right conditions
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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
Fair Trade selection
Fair Trade sizing or SL placement
Fair Trade Execution & Mgmt.
Good Risk Adjusted Returns
Yes Daily review
Muppet Meter (1 being best — 5 being worst): 2
- IB Traded higher above VAH, C closed slightly higher but no break of IB
- Buy Stop Order 15728, SL 15698, TP (2R) 15788
- Buy Stop Order triggered, monitoring for a bullish close sustaining the auction. Could potentially be a low initiative activity day
- D closed bullish but within IBR, monitoring for a HH in E.
- E closed as a Bear Engulf and I took trade off at ‑0.7R
- I waited for a pullback to newly formed M30 supply and went short
- Short 15710.80, SL 15730.30, TP 15672
- When Price hit H1 demand and M5 LKC after a Break down I took profit at 1.2R
- Also M30 demand at at VAH thought it could bounce from here.
How well did I manage my physical, emotional and cognitive states?
I did well for the most part although I did get a bit jumpy as I was losing confidence in the long trade. I walked away and focused on looking back in at 15 minute intervals. This helped. Started lifting some weights as well.
What did I learn today?
I learned that I should not have used a momentum based entry on an open inside day.
What’s one (or more) thing(s) I need to do more often?
What’s one (or more) thing(s) I need to do less often?
Take momentum trades on open inside day
Under the circumstances, did I perform at my best?
I did okay. Screwed up on the first trade but then collected myself and understood what was actually going on. Waited for a better entry and took my shot. All I can ask for.
For my trade plan(s) on this particular day, go here: