23 Aug How did I trade today? 20210823
Summary: Let your winners run
#fintwit #orderflow #daytrading #dailyreportcard #tradinglifestyle #daytraderlife #grasshoppersanonymous #tradingforex #tradingcommodities #NEXT
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
Good Trade selection
Good Trade sizing or SL placement
BAD Trade Execution & Mgmt.
Good Risk Adjusted Returns
Yes Clarity — in tune with price
Muppet Meter (1 being best — 5 being worst): 4
- IB traded down after Asia and FF traded higher. There was a slight extension in C during D there was a M15 Bull Engulf which I took for a long. I actually went slightly early based on the M5 consolidation at D1 demand.
- Long: 15825.90, SL 15801.90, TP 15876.90
- Decided to take 0.5R due to not having much of a buying tail and failure to close above M5 VWAP
- Price proceeded to close as a M15 Bear Engulf, then inverted hammer, coinciding with a potential M30 base after the M30 Bullish Inside Bar.
- F closed as a M30 RBR in line with the FA
- There was some slight follow-through before forming a Bear Engulf in I TPO although weak.
How well did I manage my physical, emotional and cognitive states?
I did well here.
I had good clarity to understand the failed auction. I stalked the opportunity and even got in a little early based off a M5 consolidation and waited for the transition to M15 Bull Engulf. When price failed to close above M5 VWAP I decided to take the trade off. In hindsight I could have let this go on longer as I have come full circle and turned back into a grasshopper. I jump out of trades too early again and don’t allow them to do their thing.
What did I learn today?
I learned that I need to face my inner-grasshopper again. I need to focus on getting 2R trades for at least 37% of my trades.
What’s one (or more) thing(s) I need to do more often?
Execute on my plan and take trades
What’s one (or more) thing(s) I need to do less often?
Cut trades too early
Under the circumstances, did I perform at my best?
I could’ve done better on letting the trade go longer.
For my trade plan(s) on this particular day, go here: