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

• 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

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

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
• 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.