How did I trade today? 20210914

14 Sep How did I trade today? 20210914

Sum­ma­ry: Two traders can be right look­ing at the same price action

#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: 

• 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

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Notes

Gold

• 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. 

DAX

• 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.

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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. 

Clar­i­ty

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:

20210914 Pre­mar­ket Prep DAX

20210914 Pre­mar­ket Prep Gold

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