March 3, 2025 (2 Trades) (-$12.50)

Overall Grade: C

Day Summary: After a disastrous end to February, it was time yet again to scale back down and focus on the process. I took a very good trade on Friday (my first day using 1 contract again) but didn't do a review so I'll post that trade screenshot now.

Set Up: Wedge Fakeout + Order Flow + Key Level (Yesterday's LOD & target Line)

Grade: A

Day Summary Cont: Today I took two trades, both with just 1 contract and a heavy focus on order flow. Although I was able to determine that there were more sellers overall in the market, I still placed C quality trades based on the fact that I didn't really have an actual candle stick set up for them, especially the second trade. That made me realize the importance of looking for everything, not just order flow alone. From here on out, in an ideal world, my trades all should meet the following criteria:

1) One of the 4 Targets in play

2) A candlestick set up (preferably a retail trap set up)

3) Order Flow supporting my thesis

With these 3 criteria, it should allow me to have more confidence in my trades

 

DAILY - ES

5 MIN - ES

TRADES

Trade 1 - Short 1 Contract @ 21 EMA Trap + Order Flow

Grade: C

  • This trade technically did have a candle stick set up but no real order flow confirmation
  • Didn't fully stick to planned stop on this - close above entry candle open
  • saw decent sell orders, but nothing big enough to prove to me that big sellers were there
  • price action was not confirming order flow (HLs)
  • I'm willing to take the L on this trade, losers are part of the game, at least I traded an actual set up here

FIX: Always STOP out where you planned. Look for better order flow confirmation.

 

Trade 2 - Short 1 Contract @ Order flow

Grade: C+

  • Order flow was confirming big sellers in this area, but I didn't have a candle stick set up that allowed me to hold this winner with confidence
  • I was also trading from the red which didn't help my cause
  • closed right before the actual move, even when order flow was showing me aggressive sellers
  • entry could have been better
  • shows the importance of having the 3 criteria I talked about above to be able to hold my winning trades with more confidence
  • confidence is key to having bigger winners

Fix: Make sure you have a candle stick set up along with order flow and one of the 4 Targets in play

 

Emotions: My emotions were a bit shaky to start the week today, and that is probably why I didn't put on the best trades. I need to remember that on days like that, it is probably just better to take the day off. It will be much better for me in the long run. Only trade when I have a winning attitude and when i feel like I am arriving, not striving. I know what it feels like to have full confidnce in one of your trades and if I don't have that, it's better to stay out of the market. That being said, I still did a good job of managing my risk today so i'm happy with that.