30 Aug How did I trade today? 20210830
Summary: Commit to your exit rules
#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
Good Trade Execution & Mgmt.
Good Risk Adjusted Returns
Yes Clarity — in tune with price
Muppet Meter (1 being best — 5 being worst): 1
- IB traded higher. C closed as a Marubozu candle above IB and Asia/Friday’s high.
- Trying a long off the break of IB:
- Long: 15892.30, SL 15864.80, TP 15947.30
- D made a HH already so now let’s wait and see if it can close higher as well. Otherwise a potential failed auction.
- D closed as a Dragonfly Doji, expecting a possible RBR. E made a HH but I’ll need a close above IB to stay with the trade for a sustained auction.
- E closed within IB even though after having made a HH but I choose to close off the trade for ‑0.3R.
- Now stalking a potential better entry on a Failed Auction setup.
- Waited for a pullback to the newly formed M15 Bear Engulf to go short. Caught a pullback and am now short
- Short 15887.83, SL 15902.85, TP 15844.13 (2.9R)
- F closed as a consolidation above IB. Sustained Auction might still be on potentially. H1 now closed as a Dragonfly Doji. No HH mad.
- G closed as a Inside Bar and H finally dropped and formed a H1 Evening Star.
- For some reason all the letters and numbers stopped working on my keyboard and am dealing with that now. Uninstalling/reinstalling keyboard drivers did not work. A simple reboot did however.
- I took 0.7R as I had gotten anxious for all the time price had ducked above IB (even without making a HH).
How well did I manage my physical, emotional and cognitive states?
I think I did well to stay objective. I got a bit anxious but I did well to go through OODA loops and commit to the trades.
Even the first trade I think I did well. Price extended and closed as a Marubozu candle above IB / Asia and Friday’s high. One thing I will take into my review tomorrow is that I believe I could’ve entered on a strength within IBR setup instead of waiting for break of IB.
Then fairly quickly I went short against the first trade. Even though I immediately regretted it tbh, because of the HH having been made previously and thinking I had cut the first trade too soon and E had closed kind of weak. I did well to commit to the trade and stick with it going through OODA loops.
What did I learn today?
I learned that I can, rather quickly, change my bias and go in the opposite direction.
What’s one (or more) thing(s) I need to do more often?
Take chances on trades. It’s okay to lose a trade as you can learn from them.
What’s one (or more) thing(s) I need to do less often?
Worry about taking a hit. Once in a trade stick to the trade and follow exit rules. Like today this helped me from grasshoppering out of the trade and taking a loss. This way I still ended up for the day.
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: