05 Jul 05072019 Friday — Trade Plan & Journal
05072019 Friday — 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
- HHTF = Higher Higher Time Frame
- Hypo = HYPOthetical
Health review (for the past week)
- Weekly goal
- Follow health plan
- 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?
- Did not sleep too well last night but feel good.
- How would you rate it (1–5)? 1 = don’t trade 2/3 =half position sizing 4/5 = full position
- 5
Market Prep
Intraday Technical Analysis
- HTF
- Define context
- Where were the overnight highs and lows and PVA?
- High 57.597
- PVAH 57.273
- PPOC 57.028
- PVAL 59.819
- Low 56.507
- Where is the LIS?
- PPOC area
- What didn’t happen?
- We did not continue HHTF DT
- 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 in effect
- 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?
- Where were the overnight highs and lows and PVA?
- Define context
- TTF
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
- HTFLKCCAS
- What has the Asian Session printed?
- Walking the HTFLKC
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
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?
- 17:05
- Possible HTFLKCBD
- 17:35
- Push back on the BD possible reversal in line with HTF R LKCCAS
- 18:05
- Move to TTF200MABO
- 18:35
- No continuation to move yet
- 19:05
- Short term reversal at HTF upper VWAP 2.0 SD, no continuation to HTF R 50MABO
- 19:35
- Momentum dried up, PA sluggish
- 17:05
Daily Report Card
Date: | 7/5/2019 | Weekly Goal | Execute A+ (TTF TC) / A setups (TTF NT) | |||
Combined Score | 90 | |||||
Process Report Card (10 each) | Performance Report Card (10 each) | |||||
10 | Session PECS | 100% | 10 | Real-time analysis | ||
0 | Hypos | 1/1 | 10 | Setups Identified (inc. TEST) | ||
10 | Trading the process | 1/1 | 10 | Setups taken | ||
10 | Daily review | 0/1 | 10 | Erroneous Entries | ||
10 | Progress tow. weekly goal | 0/1 | 10 | Erroneous Exits | ||
40 | Total | 50 | ||||
- 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
- Today I tried out a new trade idea and after 2 wrong entries I timed it right and traded until my target hit and took 4 out of 5 off to see if it would run further.
- How accurate was my assessment of market context?
- Hypo
- Didn’t make hypos today because I was working on understanding more deeply the way I trade
- Real-time analysis
- Did well here
- Hypo
- How well did I manage my physical, emotional and cognitive states?
- P: Did well here although haven’t slept well I felt good.
- E: Did well here
- CS: Did well here
- What’s one thing you learned today?
- That I can stop out and not feel bad and immediately get back in.
- Positive(s)
- Understanding my approach better.
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.
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