17 Aug How did I trade today? 20210817
Summary: Do your work before the market opens. Then execute.
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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
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
- A closed lower exhausting ADR to the downside. B closed as a Bullish Inside bar with C extending above IB.
- C closed within IB leaving behind a selling tail. M15 showed some consolidation and a Bear Engulf so I went short as per hypo 2
- Short: 15859.80, SL 15886.20, TP 15825.97
- When there was no continuation but instead a M15 Bullish Inside Bar that didn’t close above the formation I decided to wait for another M15 bar to close out the M30 bar. When this closed bullish I decided to take the trade off at ‑0.7R
- Then during E TPO a M15 bar closed within value and I waited for a pullback. I saw on M5 there was a consolidation and most likely a continuation to the move. I would have liked M5 to pullback further to perhaps IB high before entering. But as it didn’t I went long at:
- Long: 15886.80, SL 15862.30, TP 15937.30
- When price moved higher hitting LTF supply within value I decided to take the trade off at 0.6R
How well did I manage my physical, emotional and cognitive states?
I did well here. I was a bit worried about the first short trade as price had not made an effort to go lower in line with a potential failed auction. However, I stayed calm and decided to wait for more evidence against my thesis. When this came (as outlined above) I decided to cut the trade. I could have cut the trade on the first M15 Bullish Inside bar but I’ve seen DAX being somewhat sluggish in wanting to go short and M30, without a close was somewhat neutral. Waited for another M15 and thus M30 close and closed the position.
What did I learn today?
I learned that I can go short and then quickly reverse and go long but still follow my entry rules. It’s not like I up and decided to change direction. I waited for confirmation and then acted. Good fucking work and I’m giving myself a pat on the shoulder for that one.
As far as the first trade, and second trade, I will review more in-depth tomorrow.
What’s one (or more) thing(s) I need to do more often?
Do my prep. Take actions based on my prep. Don’t be stuck to a bias. Read price action and let it lead the way.
What’s one (or more) thing(s) I need to do less often?
Worry about taking trades.
Under the circumstances, did I perform at my best?
I did well I’d say
For my trade plan(s) on this particular day, go here: