Futures (Trades)

1. Open Imbalance

2&3. Intraday Continuation

Im gonna try something new.

1. How did my trades perform today? Did I meet my profit goals?

    - I had 3 trades and nearly all of them were kinda "iffy" on if they were truly setups that I have in my playbooks. On the first trade I definitely did not have a setup but I created one and its something I have had in the back of my head for a while but never really put into words. Here is that post: Playbook: Open Imbalance (tradejournal.co) On the 2nd and 3rd trades I kinda have a playbook for that in Playbook: Intraday Continuation (tradejournal.co) but i think this is almost too simple. Idk maybe thats a smart thing maybe its a dumb thing. I usually dont hear the pros ever say that the most simple strategies are the ones that work. I hear retail always saying that but thats surely one of the biggest logical fallacies to exist. Strategies can be simple on surface then very complex as you look below the waterline. In terms of my strategies they performed pretty well. I got an open imbalance trade that was very nice. I had a mid day intraday continuation short at the mid range. I hit my 10 point "goal" but I never really make that my "goal" I just like to make 10 points because in my head that is what a pro trader would do on a daily basis. Perhaps that is a stupid thing to assume and maybe its more like 25 points for the people who are truly highly skilled.

2. What was my winning percentage for the day? Did I follow my trading plan?

    - 66% so that is very good for me personally. I am happy with that. I dont really have a "plan" per say but more of a "if my strategy shows itself I will take the opportunity." And when the strategies presented themselves I took them. 

3. Did I stick to my risk management strategy? Did I take on too much risk?

    - Yes, I did stick to my risk management strategy. I had 1 loss and kept it very tight and my wins were about 2.5x my losses and I had 2 wins compared to loss. I kept it simple today because CPI in 2 days so range is very likely. I am very happy with my trades today since I took money out of a seemingly ugly day. 

4. Did I let my emotions impact my trading decisions? How can I improve my emotional discipline?

    - I surely did not let my emotions impact my decisions today. I was calm and ready to take the strategies that I have outlined in my playbooks. I think the best way to improve emotional discipline is to simply MAKE A PLAYBOOK. With a playbook the parameters are so simple and clear cut that you really feel like something is truly wrong when you are deviating from those strategies. I love it.

5. Did I miss any potential profitable trades? Why did I miss them?

    - There was a mid day breaking news trade where the market spiked lower and immediately recovered. I missed it because I was working but I definitely dont think I wouldve taken that trade if I was at my computer anyways. At least I hope I wouldnt have because I probably wouldve tried to short it hahha.

6. How can I improve my trading strategy for tomorrow?

    - I can go into my playbooks and write up every strategy I saw today and how well they worked. I already did this here:

Playbook: Intraday Continuation (tradejournal.co)

Playbook: Open Imbalance (tradejournal.co)

Playbook: Opening Range Breakout (tradejournal.co)

7. Did I learn anything new today? How can I use that knowledge to improve my trading?

    - Yes, writing up my playbook I found that maybe the ORB is not a good strategy when the market has multiple levels of support but I think the bigger problem with that strategy is that any time we have a strong likelihood of range, its much less effective. This is kinda a "duh" moment but I think any market condition where we have a lot of information coming out in the near future, just avoid this strategy altogether. I will use that in the future as maybe a gauge to do the INVERSE of that strategy. Perhaps when we have a 2 day hold from economic data, I could use the opening range as a level to play the range instead of playing the breakout of that range. Interesting

8. N/A

9. Did I manage my time effectively during my trading session? Did I waste time on non-productive activities?

    - I think that I really should cut down on the youtube before the market open and instead I need to create a solid plan for the day. Idk if making a plan is something I want to do though because I feel like if I study the chart too much I get biased and start trading the bias instead of the strategies. Maybe I could use my premarket youtube time as a time to read a book or be in the sun instead of consuming pointless content. Once the market is open I am glued to the market with zero outside influences so I am good once it opens but I think I could use my time more effectively in the premarket. 

10. Did I take enough breaks to maintain my focus and concentration?

    - I only traded for about 2.5 hours today so I dont really need a break when I have a job scheduled for my 2nd half of the day. Had the day been a full day where I am trading until 4, my 12pm workout break is absolutely essential for focus and concentration.