18 Aug How did I trade today? 20210818
Summary: Stay objective and make incremental improvements
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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): 4
- IB traversed down and accepted value
- I considered going short on a re-test of VAH but with SL placement + accounting for spread the SL size would be 24 pips which gave me 1.1R at the LTF demand within value near VAL. I deemed that it was not worth it and let it go.
- There was however a 2nd retest of VAH which in hindsight could have been another entry point using a tighter SL although at the time M15 Had made a Three Outside Up (although with longer selling wick)
- Price had moved below IB during 3 TPOs now so a sustained auction down is more probable and a Failed Auction less likely. Even though a M30 Bullish Inside Bar was formed at the close of D.
- As I hesitated going in on a Failed Auction I did not go long. I will review more details on this tomorrow in my Missed Trade Review.
How well did I manage my physical, emotional and cognitive states?
II did well here
What did I learn today?
I learned that even though IB was extended multiple TPOs below a Failed Auction is still possible due to the right time of day and Frankie Fakeout.
What’s one (or more) thing(s) I need to do more often?
Stay objective. Making mistakes or in this case not taking a trade is okay that is how we learn. Better safe than sorry although don’t get too safe there huh. No Scooby Doo here.
What’s one (or more) thing(s) I need to do less often?
I think I did well… I had objective doubts about the play and did well overall.
Under the circumstances, did I perform at my best?
Yes especially on letting the Short trade go. That was golden. Although missing the long trade then again wasn’t.
For my trade plan(s) on this particular day, go here: