June 3, 2025 (2 Trades) (+$83.75)
Overall Grade: B+
Day Summary: Wow it's been a while since my last trade review. There's been some back and forth as usual, but I am now on a mission to observe price action and then stick to my set ups. That is the way I want to be trading going forward. I recently realized how the win rates of my set ups changed based on the price action going into those set ups, so I started looking at that. I have since had two set ups that I didn't really feel confident with but were following my system, and I didn't take them. And guess what? They both worked out. That got me thinking that I need to be strictly system based and take the trade when my startegy indicates, not when I feel it's a good trade. That way it is more of just a system that I am executing. (Note that does not mean I can't scale up or add to the trades where the system says Go and my intuition is also supportive)
I had just noticed that a had a lot of good trades mixed in with scattered, random trades. Those trades were additional losers for no reason. And I am trying to cut out the lower quality set ups based on the price action prior to the set up. So, the new plan: Observe Price Action. Find A Bias. Find A Set Up. Execute.
DAILY - ES
5 MIN - ES
TRADES
Trade 1: Short 2 MES @ 21 EMA Trap + Price Action + Key Level(s)
Grade: B
- Let's start by saying this is a more risky 21 EMA Trap set up (in a range vs trending)
- This was also taken just a few minutes before 10am news - risky
- I closed this trade at 09:59:51 because of news (good thing), but normally I would have held this trade for continuation lower
- good, patient entry with a set up - very good
- tight stop (close above yesterdays HOD / open price)
- price action into set up was conducive - great!
Trade 2 - Long 2 MES @ 21 EMA Bounce + Price Action + Order Flow
Grade: B+
- just noticing right now the Open Price (blue line) got moved from where it was supposed to be (see Trade 1)
- this trade felt scary but I trusted the price action
- order flow confirmed my intuition
- good job holding the winner for more
- trading with the trend - good
- tight stop again - good