What You Did Well

1. Self-Discipline: Opting not to trade after waking up late shows strong self-discipline. Recognizing when you're not in the best state to trade can prevent unnecessary losses.
2. Reflection: You took the time to analyze the missed opportunity and drew valuable insights from it.
3. Strategy Insight: Identified that default timeframes provided a better R/R trading opportunity compared to custom timeframes.

Areas for Improvement

1. Morning Routine: Waking up on time is crucial, especially on days with significant data releases. Ensure your alarm setup is reliable and consider setting multiple alarms if necessary.

Key Takeaways

1. Adaptability: Understanding that default timeframes may offer better R/R opportunities is valuable. Adjusting your strategy to capitalize on these insights will enhance your trading performance.
2. Trend Confirmation: Recognizing the importance of H4 timeframe in play while also understanding the role of H6 and H12 for overall market context shows your growing analytical skills.

Action Plan

1. Alarm and Wake-Up Strategy:

   • Set multiple alarms and place your alarm device at a distance to ensure you wake up on time.
   • Consider going to bed earlier on trading days with important data releases.

2. Default Timeframe Focus:

   • Shift your focus to executing trades on default timeframes for better R/R.
   • Use H6 and H12 timeframes for overall market context and direction but prioritize H1 and H4 for entry points.

3. Consistent Review:

   • Continue to review and analyze missed opportunities. This helps you stay prepared for future similar scenarios.
   • Keep refining your strategy based on these insights.

Example Day Plan

1. Morning Routine:

   • Wake up at least 1 hour before any data release (preferably 2 hours before market open).
   • Perform your premarket analysis, focusing on default timeframes.

2. Market Analysis:

   • Identify the prevailing trend using H6 and H12 for market context.
   • Look for high R/R opportunities using H1 and H4 for precise entries.

3. Trading Session:

   • Execute trades based on your refined strategy, prioritizing default timeframes.
   • Avoid trading if you miss your morning routine to maintain discipline.

By incorporating these insights and adjustments, you can enhance your trading performance and stay disciplined in your approach. Keep up the good work with your journaling and continuous improvement.

NO TRADE DAY for me.

I woke up at 10:45, slept past my alarm, and I dont think Im going to take any trades on the day, because I missed the best opportunity.

Instead, I will post a picture of the long opportunity presented OTD, that happened just prior to the 9:30 data release on inflation

This trade was basically immediately ITM and experienced almost no drawdown upon entry. 

THINGS DONE WRONG

- Woke up late (Should be up at least 1 hour in the future prior to data releases)

THINGS DONE CORRECT

- Deciding not to take any trades on the day after waking up late

One thing that I noticed on this trade is that the default timeframes provided a higher R/R trading opportunity compared to my custom timeframes in terms on trend.

The H4 timeframe was the timeframe in play, and had I waited for H6 and H12 confirmation, I would have got a significantly lower R/R for the trade.

With that being said, I think that H6 & H12 can be used in specific scenarios for overall market context and direction, but I am starting to think that once I have reference from the H6 & H12 charts, to look for the lowest timeframe entries for the draw on liquidity.

I am really enjoying this candle high/candle low & trend trading strategy, its very simple, and seems to be performing well conceptually.

STRATEGY TWEEKS 

* ENTRIES WILL ONLY BE PERFORMED ON DEFAULT TIMEFRAMES TO CAPTURE BIGGER R/R TRADES.