24 Aug How did I trade today? 20210824
Summary: Trust your mentor’s judgement and believe in yourself
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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
Good Trade selection
Good Trade sizing or SL placement
Good Trade Execution & Mgmt.
Good Risk Adjusted Returns
Yes Clarity — in tune with price
Muppet Meter (1 being best — 5 being worst): 1
- FF traded higher, LN IB traded lower. Price started building strength at the bottom of IB and I went long on a M30 Bull Engulf in line with Hypo 1
- Long: 15897.90, SL 15870.87, TP 15951.99
- Price traded higher testing IB high before closed as an Inverted Hammer during E. Normally due to going into F I could have cut the trade and perhaps even gone the other direction for a quick move. However, as M30 wasn’t a developed reversal pattern I decided to stick with the trade as Hammers often get retraced.
- F closed down forming a Three Outside Down. Again I decided against taking the trade off as price did not close within LTF demand and H1 seems to have a consolidation or sideways priceaction going on. At least I could try and get to breakeven or perhaps more if price action closes bullish.
- M15 Bull Engulf was formed on top of LTF demand. Letting the trade go on a little longer see if it transitions into a M30 Bullish Inside Bar perhaps.
- M30 closed as a consolidation some would say a Bull Engulf but I don’t agree. Then when price moved slightly higher I thought it was enough. I waited 2 hours for the move to happen and I don’t think it will happen this late in the session so I took 0.3R. We are looking at a possible developing H4 Base to possibly facilitate a leg up but not during my trading window. H1 sideways movement was hitting the high of the range.
- H and I closed higher but still trading within IB.
- J closed as a Bear Engulf but with longer buying wick. Followed by a M15 DBD.
How well did I manage my physical, emotional and cognitive states?
I think I did well here. I stayed patient and let M30 guide me through the trade.
I had great clarity throughout the session. I was in-tune and was visualizing well what could come next by monitoring price action through OODA.
What did I learn today?
I learned that perhaps I need to trade into the overlap noise as well as DAX still has good volume when the Americans wake up.
What’s one (or more) thing(s) I need to do more often?
Trust the process. I can take advice but in the end I need to make my own decisions and stick to them. Until then I need to go through the process and make all my own.
What’s one (or more) thing(s) I need to do less often?
Worry about taking a loss
Under the circumstances, did I perform at my best?
I think I did well today
For my trade plan(s) on this particular day, go here: