09 Sep How did I trade today? 20210909
Summary: Process, Patience, Persistence
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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:
- Trading rules
- Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
- No early exits, either hit SL or 2R target
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
- C closed above IB but not with subpar profit target to value edge a sustained auction is a no-go
- Looks like a sustained auction up
- C closed as an inverted hammer so there might be more upside first. ALthough M15 closed as an inverted hammer as well and M5 Three Outside Down.
- M15 closed down again. Eventually transitioned to D closing as a Bear Engulf failing the auction. I still feel I made a good decision not taking the trade as it would be trading directly into HTF demand and it being equities.
- E closed as a Bullish Inside Bar with buying wick / M15 bull engulf on a sudden faster pace. Possible move higher.
- M15 Gravestone Doji, possible base. F reached and took out selling tail for the most part but still some left.
- G almost made a HH but closed near the high. H made a HH.
How well did I manage my physical, emotional and cognitive states?
I did well today. I didn’t see anything I liked and fit my risk parameters and I stayed out. Nothing wrong with that.
Strength from within IBR
In hindsight I had good clarity in DAX and did not go in on the Failed Auction setup and thought to enter long. But due to the lack of confidence in the narrative I opted to stay out as I didn’t think the risk was worth it.
What did I learn today?
I learned that I should trust my instincts more. There is a reason why I am thinking too much about a trade. When this happens it is usually not something I should be in. Usually in a few considerations I should know if I want to enter or not.
What’s one (or more) thing(s) I need to do more often?
Keep focusing on Process, Patience, and Persistence.
What’s one (or more) thing(s) I need to do less often?
I think I did well today.
Under the circumstances, did I perform at my best?
Yes I did.
For my trade plan(s) on this particular day, go here: