06 Aug 06082019 Tuesday — Trade Plan & Journal
06082019 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
- R = Range
- LTF = Lower Time Frame
- TTF = Trading Time Frame
- HTF = Higher Time Frame
- HHTF = Higher High Time Frame
- Hypo = HYPOthetical
- AD = Accumulation Distribution
Health review
- Weekly goal
- Eat 2 meals only
- 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?
- Still feel sick but better after I slept a lot and drinking a lot of water.
- How would you rate it (1–5)? 1/2 = don’t trade 3= quarter position 1st 12 2nd 2, 4= half position = 1st 25 2nd 5, 5= full position = 1st 50 2nd 10
- 4= half position = 1st 25 2nd 5
Market Prep
Intraday Technical Analysis
- HHTF
- What is the market narrative?
- We had a D TT and then instead of going into R we made a HL looking for solid support to now potentially create more upside
- What is the market narrative?
- HTF
- Levels
- Prev. High 55.503
- PVAH 55.292
- PPOC 55.005
- PVAL 54.698
- Prev. Low 54.203
- What is the market narrative and bias?
- HTF went into Oversold position and rejected once more (HHTF HL looking for support) and have now traded up over 50MA to potentially PB and test 200MA, but we would have to look for more cues around UKC
- Levels
- TTF
- Does the Asian session show clues that align with market narrative?
- Bif TTF R Oversold into NT into D TT with potentially breaking down from 50MA but we are above 200MA so is the 50MA so let’s see where we can find support on the TTF to confirm or negate the market narrative bias
- Does the Asian session show clues that align with market narrative?
Trade Idea
- Hypo 1 Long
- HTF R 50MABO+PB
- Entry around 54.90
- Targets 55.40, extended 55.80, 56.05
- Hypo 2 Rotational
- 54.80 — 55.50
- Hypo 3 Short
- HTF R UKCCAR
- Entry around 55.40
- Targets 55.10, 54.90, extended 54.60
My goals for the day (Daily Report Card)
- Define winning
- Only trade A/A+ trade ideas
- Forward test experimental trades
Reading the Tape
- What is printing?
- 15:35
- HTF
- What is the market narrative?
- Hypo 1 could be in play, waiting for confirmation on the PB to 50MA
- TTF
- Potentially TTF R Oversold to test 200MA in line with Hypo 1
- TTF UKCCAS or TTF200MACAS
- Bias
- Long if Hypo1 is confirmed
- Opportunity (if any)
- What setup am I going to stalk?
- HTF R 50MABO+PB
- Wait for confirmation on LTF in the form of an NT or TC
- What setup am I going to stalk?
- HTF
- 16:05
- HTF
- What is the market narrative?
- Possible PB in process
- TTF
- Possible TTF200MACAS in process. Stop below in case of failure
- Bias
- Long
- Opportunity (if any)
- What setup am I going to stalk?
- HTF R50MABO+PB / TTF200MACAS
- HTF
- 16:35
- HTF
- What is the market narrative?
- PB still in effect but working on confirmation on TTF
- TTF
- We had 1 TTF200MACAS and now a potential double touch in process
- Bias
- Long
- Opportunity (if any)
- What setup am I going to stalk?
- TTF R 50MABO as confirmation of HTF R 50MABO+PB
- HTF
- 17:05
- HTF
- What is the market narrative?
- PB to 50MACAS is still in effect
- TTF
- No sign of 50MABO just yet perhaps some more downside first. Staying clear at the moment because of some AD going on around LKC
- Bias
- Long but lack clarity on a setup
- Opportunity (if any)
- What setup am I going to stalk?
- HTF
- 17:35
- HTF
- What is the market narrative?
- HTF R 50MABO+PB invalidated
- TTF
- Potential TTF R Oversold or TTF R 200MABD for short bias
- Bias
- TTF R Oversold long TTF R 200MABD Short
- Opportunity (if any)
- What setup am I going to stalk?
- Unclear at the moment. Perhaps a drop to HTF 1.0 SD to CAS or a move all the way down to HTFLKC if TTF R 200MABD is confirmed
- What setup am I going to stalk?
- HTF
- 18:05
- HTF
- What is the market narrative?
- Possible HTF R 50MABD or this is used for AD to load up for a big move up, will need more confirmation first
- What is the market narrative?
- TTF
- TTF T above 200MA still in process no move has been made yet, AD still in process
- Bias
- Unclear
- Long above 55 short below 54.65
- Unclear
- Opportunity (if any)
- What setup am I going to stalk?
- Still same as before, unclear
- What setup am I going to stalk?
- HTF
- 18:35
- HTF
- No real development
- HTF
- 19:05
- HTF
- No real development
- HTF
- 19:35
- HTF
- No real development
- HTF
- 20:05
- HTF
- What is the market narrative?
- We traded below HTF R 50MA and are now in the process of making a PB to CAR
- What is the market narrative?
- TTF
- TTF R 200MACAS with move up to UKC
- Bias
- Unclear
- Opportunity (if any)
- What setup am I going to stalk?
- Unclear
- What setup am I going to stalk?
- HTF
- 15:35
Daily Report Card
Trade Idea
- Hypo 1 Long
- HTF R 50MABO+PB
- Entry around 54.90
- Targets 55.40, extended 55.80, 56.05
- Hypo 2 Rotational
- 54.80 — 55.50
- Hypo 3 Short
- HTF R UKCCAR
- Entry around 55.40
- Targets 55.10, 54.90, extended 54.60
Daily Report Card | ||
Date: | 8/6/2019 | |
Weekly Goal | Execute A+ / A setups | |
Combined Score | 98 | |
Process Report Card (10 each) | ||
10 | Session PECS | |
8 | Hypos | |
10 | Market Prep | |
10 | Daily review | |
10 | Progress tow. weekly goal | |
48 | Total | |
Performance Report Card (10 each) | ||
100% | 10 | Real-time analysis |
1/1 | 10 | Setups Identified (inc. TEST) |
1/1 | 10 | Setups taken |
0/1 | 10 | Erroneous Entries |
0/1 | 10 | Erroneous Exits |
50 | total | |
- Weekly Goal
- Only trade A/A+ trade ideas
- Forward test experimental trades
- Review
Trade | Entry Errors | Exit Errors | Type Trade | Sizing | Reason to cover | Problem | Proposed solution | |
Session | - | - | - | - | - | - | - | - |
1 | 0 | 0 | HTF R 50MA BO+PB (front) | 5 | S | Scratched when momentum died off | - | - |
1 | 0 | 0 | HTF R 50MA BO+PB | 5 | TP | Hit 1st Target | - | - |
- How accurate was my assessment of market context?
- Hypo 1 — 80%
- Even though I traded based on this narrative there was no follow-through on the move and PA died off plus entry was 10 ticks lower which is not too bad. Trade Idea was good based on the information pre-market.
- Real-time analysis — 100%
- I feel I was in sync with the market, too bad there weren’t more opportunities
- Hypo 1 — 80%
- How well did I manage my physical, emotional and cognitive states?
- P: I am still feeling sick but better than yesterday
- E: Did well here
- CS: Did well here
- What’s one thing you learned today?
- Patience and humility is integral to improvement
- Positive(s)
- Did well to focus on understanding market narrative and look for cues to see it unfold without forcing my bias
- Negative(s)
- Did well today. Enjoy it.
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.
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