17 Sep How did I trade today? 20210917
Summary: Write preps and execute
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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
Bad Trade Execution & Mgmt.
Good Risk Adjusted Returns
Yes Clarity — in tune with price
Muppet Meter (1 being best — 5 being worst): 2
- B TPO closed as a bear engulf but due to yesterday exceeding ADR and a possible profit-taking since it is Friday I am more inclined for a long bias.
- If price can provide a 2R target to value edge I will try a sustained auction up play.
- C closed as an Inside Bar and D TPO is testing newly formed bear engulf in B. M5 is showing strength and I went long on a slight pullback.
- Long 1763.535, SL 1759.990 (at IB low), 1770.624 (2R target at VAL)
- Price made HH throughout E and F
- I took a screenshot of where I would normally take the trade off for some profit of 0.5R
- But the trade reversed and I got stopped out for ‑1R.
- Price accepted value on M15 but D TPO closed as a Bullish Inside Bar. Was considering to go long but didn’t like the PA on M15.
- Good thing I didn’t go long as price dropped quick rotating through value and sustaining the auction down.
How well did I manage my physical, emotional and cognitive states?
I did well here. I felt good that I tried the long and that I recognized it in the first place.
Sustained Auction Up
Even though the bearish sentiment I did well to include this as one of my options.
Price consolidated above IB even though making HHs before reversing and extending to the downside forming a Neutral Day.
- I recognized the possibility for a long play
- I took the trade
- I didn’t wait for an extension of IB first
What could I have done better?
- I could have waited for the extension first and then waited for a pullback to enter for a 2R target to VAL
For my trade plan(s) on this particular day, go here: