02072019 Tuesday — Trade Plan & Journal

02072019 Tues­day — Trade Plan & Journal

Ter­mi­nol­o­gy (par­tial­ly made up by yours truly)

• PA = Price Action
• BO = Break Out
• BD = Break Down
• CAR = Con­firm As Resistance
• CAS = Con­firm As Support
• UKC = Upper Kelt­ner Channel
• LKC = Low­er Kelt­ner Channel
• TV = Tick Volume
• WPP = Week­ly Piv­ot Point
• DPP = Dai­ly Piv­ot Point
• DR = Dai­ly Resis­tance (piv­ot)
• DS = Dai­ly Sup­port (piv­ot)
• WR = Week­ly Resis­tance (piv­ot)
• WS = Week­ly Sup­port (piv­ot)
• HL = High­er Low
• HH = High­er High
• LH = Low­er High
• LL = Low­er Low
• SD = Stan­dard Deviation
• VWAP = Vol­ume Weight­ed Aver­age Price
• AS = Asian Session
• LS = Lon­don Ses­sion (EU)
• NY = New York Ses­sion (US)
• R/R = Risk to Reward
• M2M = Move to Move
• T2H = Trade to Hold
• DT = DownTrend
• UT = UpTrend
• LTF = Low­er Time Frame
• TTF = Trad­ing Time Frame
• HTF = High­er Time Frame
• Hypo = HYPOthetical

Health review (for the past week)

• Week­ly goal
  • Eat less carbs by alter­nat­ing 2 meals a day
• How do you feel? Have you recent­ly had a break of dai­ly rou­tine (like a trip)? Did you have 2 (or more) nights of insuf­fi­cient sleep?
  • Had a good night of sleep after 2 days of insuf­fi­cient sleep but should still be a bit care­ful. 1 because I might still not be as sharp 2 I might think I need to make up for loss­es I incurred yesterday.
• How would you rate it (1–5)? 1 = don’t trade 2/3 =half posi­tion siz­ing 4/5 = full position
  • 4, but will go with a 3 so half position

Mar­ket Prep

Intra­day Fundamentals

• API report
  • Today
• EIA report
  • Tomor­row 

Intra­day Tech­ni­cal Analysis

• HTF
  • Define con­text
    • Where were the overnight highs and lows and PVA?
      • High 60.268
      • PVAH 60.240
      • PPOC 60.034
      • PVAL 59.116
      • Low 58.336
    • Where is the LIS?
      • PVAL area
    • What didn’t happen?
      • No HTF R LKCBD
    • Dialling in on opportunities
      • Is there a shift in value/excess migra­tion? What is the cur­rent mar­ket con­di­tion? Are we trend­ing, balancing/range bound? Where are we in the trend range axis?
        • HTF R still in effect + plus 50 and 200 run­ning flat

• TTF
  • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
    • HTFLKCCAS / TTF200MABO
  • What has the Asian Ses­sion printed?
    • HL under HTFLKC to a move inside KC to TTF200MA

Trade Idea (Less clarity)

• Hypo 1 Long
  • TTF200MABO
  • Entry around 59.15
  • Tar­gets 59.50, 59.90
• Hypo 2 Rota­tion­al 59.30 — 58.60
• Hypo 3 Long
  • TTFLKCCAS
  • Entry around 58.90
  • Tar­gets 59.50, 59.90

My goals for the day (Dai­ly Report Card)

• Define win­ning
  • Only focus on A/A+ setups and work on con­sis­ten­cy in tak­ing them. To have a bet­ter sam­ple size I will need to go through a few cycles before I can think of the next lev­el. Do this for the next month at least. It would be 3 months by then and I can ana­lyze my trad­ing and reassess if need be. 

Read­ing the Tape

• What is printing? 
  • 16:35
    • Dur­ing AS we had a TTF200MABO and then trad­ed back to TTFLKC/TTF200MA and are look­ing to CAS, pos­si­bly a TTF U NT
  • 17:05
    • Poten­tial TTF200MABD, pos­si­ble HTF 50/200MA cross down
  • 17:35
    • PA messy, not fol­low­ing nor­mal levels, 
  • 18:05
    • Just had a 25 tick drop from TTF200MA to HTFLKC area pos­si­ble rever­sal but it seems today PA goes the oth­er way than I assume
  • 18:35
    • I don’t feel very in-tune with the mar­ket today
  • 19:05
    • No fol­low-through on TTF200MABO, HTF50 cross­ing down 200MA

Dai­ly Report Card

Trade Idea (Less clarity)

• Hypo 1 Long
  • TTF200MABO
  • Entry around 59.15
  • Tar­gets 59.50, 59.90
• Hypo 2 Rota­tion­al 59.30 — 58.60
• Hypo 3 Long
  • TTFLKCCAS
  • Entry around 58.90
  • Tar­gets 59.50, 59.90

	Date:	7/2/2019	Week­ly Goal	Exe­cute A+ (TTF TC) / A setups (TTF NT)
	Com­bined Score	86
	Process Report Card (10 each)		Per­for­mance Report Card (10 each)
	8	Ses­sion PECS	90%	9	Real-time analy­sis
	9	Hypos	2/2	7	Setups Iden­ti­fied (inc. TEST)
	8	Trad­ing the process	2/2	10	Setups tak­en
	10	Dai­ly review	1/2	5	Erro­neous Entries
	10	Progress tow. week­ly goal	0/2	10	Erro­neous Exits
	45	Total		41

• Week­ly Goal
  • Only focus on A/A+ setups and work on con­sis­ten­cy in tak­ing them. To have a bet­ter sam­ple size I will need to go through a few cycles before I can think of the next lev­el. Do this for the next month at least. It would be 3 months by then and I can ana­lyze my trad­ing and reassess if need be.
• Review

P/L ticks	Trade	Entry Errors	Exit Errors	Type Trade	Siz­ing	Rea­son to cover	Prob­lem	Pro­posed solution
-3.4	1	1	0	TTF U NT	5	scratched	I real­ized I did not wait for the set­up to devel­op so imme­di­ate­ly scratched	Too Ear­ly	Because I had a bad day yes­ter­day and feel OK today but not as sharp I decid­ed to cut my siz­ing for the day. Still adjust­ing so will be more care­ful going for­ward today.
6	2	0	0	(exper­i­men­tal) TTF200MABO	2	scratched	too much push back	-	-
5.5

• 1) scratched
• 2) scratched  half first to see if I was wrong when I noticed I wasn’t I took the rest off as well.
• How accu­rate was my assess­ment of mar­ket context?
  • Hypo 3 — 90%
    • It wasn’t as clean
  • Real-time analy­sis
    • 90% — i did well for the most part but was a bit hes­i­tant to not make any mis­takes and be more care­ful. Still did good here.
• How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
  • P: Did well here. Slept enough plus took an extra nap.
  • E: Did good here. 
  • CS: Because of yesterday’s loss I felt a bit ‘hes­i­tant’ but that’s all good and was expected.
• What’s one thing you learned today?
  • More sac­ri­fices must be made in order to become a CPT.
• What’s one thing I need to do more often?
  • Be well-rest­ed in order to be more in-tune with my inner-voice.
• What’s one thing I need to do less often?
  • Let out­side fac­tors that don’t help me on my path hold me back. 

Feed­back?

Any ques­tions or feed­back you might have please feel free to leave a com­ment or con­tact me directly.