14 Sep How did I trade today? 20210914
Summary: Two traders can be right looking at the same price action
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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
BAD Session PECS
BAD Trade selection
Good Trade sizing or SL placement
Good Trade Execution & Mgmt.
Good Risk Adjusted Returns
NO Clarity — in tune with price
Muppet Meter (1 being best — 5 being worst): 5
- IB closed as a Bear Engulf and C extended down. M15 accepted value but M30 closed as a pinbar. Price is more likely to continue down. However at IB low there is no clear path to 2R target. So either a 2nd chance entry if it presents itself or staying out.
- Value got accepted during IB however there is a H4 supply right in the middle of value. C extended but closed within as a long-legged doji. I tried getting in long off a test of VAL but it missed my buy limit order. D closed higher after making a poor high.
- Price traded higher and above IB. Then pulled back to about ⅓ of IB after F closed as a Bear Engulf technically failing auction. Still trying a long after M15 Formed a Bull Engulf and a little subsequent base.
- Long 15719.02, SL 15689.51, TP 15778.03 (2R)
- Got stopped out. The location I picked wasn’t good.
- Price reached a round number and M30 QLo and formed a M5 Bull Engulf at VAL coinciding with M30 demand so trying another long
- Long 15697.90, SL 15667.99, TP 15756.92
- Got stopped out. Down ‑2Rfor the day.
How well did I manage my physical, emotional and cognitive states?
I did not do well today…. I thought I was…. I did not want to go long on DAX unless I could’ve found a good entry giving sufficient R‑multiples. The main reason for not wanting to go long on DAX was the following scenario:
Price exceeded ADR yesterday which increases the probability for a move down retracing yesterday’s move. There was a newly formed H4 Supply right in the middle of value (again another reason for a move down) to which F TPO formed a Bear Engulf, failing the auction. In line with this move. We’ve had quite some plays where a H4 SD level within value constitutes a return to value play with a probe of value before reversing.
Initially I had great clarity but then some psychological issues crept up after being called out for letting a live account interfere with my trading. So silly. After I had taken a good trade yesterday that I am normally very uncomfortable taking that went to 2R even. Whatever, it is still my own issue and I shouldn’t let whatever anyone says get to me. I’ll reflect on this.
What did I learn today?
I should trust my own voice and not let anyone get to me. Before voicing it too loud I should first show consistency in good results.
What’s one (or more) thing(s) I need to do more often?
Be too hard on myself. I have been doing things great for quite some time now. I just need to improve.
What’s one (or more) thing(s) I need to do less often?
Let others throw me off
Under the circumstances, did I perform at my best?
I did not
For my trade plan(s) on this particular day, go here: