Analysis of July 11, 2024

Key Points:

• Discipline: Waking up late due to staying up late affected your ability to trade with discipline.
• Missed Opportunity: Acknowledged that there were significant trading opportunities throughout the day.
• Trade of the Day Setup: Noted straightforward short opportunities both premarket and during the trading session.
• Observation on Patterns: Recognized that variations and trend shifts have shown a high hit rate and confirmation in trades.

Recommendations and Learnings

1. Discipline and Routine:

   • Maintain a disciplined sleep schedule to ensure you wake up well before trading hours.
   • Avoid activities that could disrupt your trading focus and schedule the night before.

2. Missed Opportunities:

   • While missed, use this as a motivation to stay disciplined and capitalize on future opportunities.
   • Review missed setups to identify patterns and refine your playbook strategy.

3. Trade of the Day Analysis:

   • Continue to identify and document Trade of the Day setups for playbook development.
   • Focus on variations and trend shifts as they have shown higher success rates.

4. Risk Management:

   • Emphasize the importance of risk management strategies, including position sizing and stop-loss placement.
   • Consider the potential impact of volatility on trade decisions and adjust strategies accordingly.

Integrating Learnings into Playbook Strategy

Playbook Development

1. Setup Identification:

   • Clearly define entry criteria for variations and trend shifts identified premarket and during trading hours.
   • Incorporate VWAP and other technical indicators to confirm setups.

2. Execution Guidelines:

   • Ensure timely execution based on identified Trade of the Day setups.
   • Validate setups against broader market conditions and economic data releases.

3. Review and Adapt:

   • Regularly review trade outcomes and adjust playbook strategies based on performance data.
   • Continuously refine entries, exits, and risk management protocols to improve consistency.

Checklist for Future Trades

1. Preparation:

   • Commit to a disciplined routine, including adequate rest and premarket analysis.
   • Document and analyze potential setups based on identified patterns and indicators.

2. Execution:

   • Execute trades based on predefined criteria and playbook strategies.
   • Monitor market conditions and adapt strategies as necessary during trading hours.

3. Reflection:

   • Reflect on each trading day to assess performance against predefined goals and strategies.
   • Capture insights and lessons learned to inform future trading decisions and adjustments.

By integrating these recommendations into your trading approach, you can enhance consistency and profitability while reducing the impact of emotional or impulsive decisions. If you have more trades or specific details to discuss, please share them so we can continue refining your playbook strategy and checklist.

No Trade Day for me, I was talking way too late with a baddie from Monkey, and I woke up around 11:45, It was bad discipline on my part, and for that reason, I didnt want to pull the trigger.

I did miss a pretty volatile day with plenty of opportunity, actually, probably the most opportunity of the week. But, I got myself out of drawdown this week so far, and I still have tomorrows trading day left, so I will try to make the win for the week in tomorrows trading session.

Other than that, here is the 'Trade Of The Day' setup, both premarket DATA & in session trading opportunities, fairly straghtforward shorts.

One thing I am definitely noticing is that a Variation & and Trend Shift, seems to have very high hit rate and win percentage statistics and higher confirmation overall.