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Trading Day Summary 20210923 - Bear Market Trader
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Trading Day Summary 20210923

Trading Day Summary 20210923

Sum­ma­ry: Grow­ing more con­fi­dent trade by trade

#DAX #DE30 #XAUUSD #fin­twit #order­flow #day­trad­ing #dai­lyre­port­card #trad­inglifestyle #day­trader­life #trad­ing­forex

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.

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


Notes

Gold

  • C extend­ed and closed above IB tak­ing out LTF sup­ply in a poten­tial sus­tained auc­tion move. A test of IB high might be a good entry for a sus­tained move. How­ev­er, VAL doesn’t pro­vide with 2R target.
  • When using ASR cal­cu­lat­ed off trad­ing win­dow I could get in a 20 pip stop and choose to do a 25 pip paper trade long. Decid­ed for a paper trade as this is my first time using such scal­ing and the long trade is against sen­ti­ment as well as trend. 
  • D test­ed IB high and closed high­er as a pos­si­ble base. E formed a RBR reach­ing VAL and 2R target.

DAX

  • IB trad­ed high­er so did C but no exten­sion of IB (yet)
  • E extend­ed and closed above IB. No reac­tion from D1 sup­ply (yet)
  • Final­ly the failed auc­tion is on but I can’t find an entry with good prof­it tar­get so let­ting this one go. 


Summary of the Trading Day

Click to Enlarge
  • Result
    • 2R (paper Trade)
  • Prod­uct
    • Gold
  • Open Sen­ti­ment
    • 0.56xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
  • IBR
    • 0.47xASR
  • Hypo
    • 3
    • Sus­tained Auc­tion Up, (very risky) late-sus­tained auc­tion entry preferred
  • Attempt­ed Setup
    • Sus­tained Auction
  • Entry Tech­nique
    • Re-test of IB high through Buy Lim­it order but a Break of IB would have been good as well due to expect­ed momen­tum in C break­ing high­er after B had formed a Bull Engulf
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 35 min­utes
  • Long/Short
    • Long
  • Trade Com­ments
    • Price opened trad­ing at H4 demand after a H4 QLO rejec­tion. IB retraced to H4 Base sup­ply lev­el indi­cat­ing a pos­si­ble con­tin­u­a­tion high­er. 0.56xASR Below Val­ue, Out­side Range with mod­er­ate to large imbal­ance it could go either way. Although B TPO formed a Bull Engulf and price extend­ed on momen­tum in C TPO. 
    • Used tighter scal­ing due to expect­ing a short term move by using AR account­ing till noon instead of the entire ses­sion. This enabled to have a 2R tar­get at VAL which is the most prob­a­ble target

Click to Enlarge

Actu­al Development

D TPO closed as a pos­si­ble Base and E took it high­er reach­ing VAL and 2R target.

Good points

  • Good that I spot­ted the trade
  • Good that I used the new scal­ing technique

Bad Points

  • I could have placed a real trade

Next Day Analysis

  • Tar­get hit?
    • yes
  • Time-based Exit?
    • 2.8R
  • Over­lap Noise?
    • 2.1R
  • End of Day?
    • -1R
  • High­est R multiple?
    • 3.6R

For‌ ‌my‌ ‌trade‌ ‌plan(s)‌ ‌on‌ ‌this‌ ‌particular‌ ‌day,‌ ‌go‌ ‌here:‌ ‌

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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