08072019 Monday — Trade Plan & Journal

08 Jul 08072019 Monday — Trade Plan & Journal

08072019 Mon­day —  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

5 pos­i­tive 1 negative	Mon
-	8/7
Time bed yesterday	0:36
woke up	8:18
Hours sleep	7:42
Accord­ing to Fitbit	6:38
Awake	1:04
Times awake	39x
REM	0:36
Light	4:49
Deep	1:13
Sleep well?	4
Sleep Aid?	no
Alco­hol yesterday?	0
Wore Fit­bit?	yes
Per­formed Dai­ly Tasks?	yes
Per­formed Health Tasks?	no
Exer­cise yesterday?	no
Cof­fees yesterday	2
Inter­mit­tent fasting	no
Water L	2
Vit­a­mins	no
Cig­a­rettes	3

• 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?
  • I feel good. Over the week­end I slept well Fri­day night and a bit less Sat­ur­day night (about 7) although not too bad. Last night I slept fine, almost 8 hours. 
• How would you rate it (1–5)? 1/2 = don’t trade 3= quar­ter posi­tion 4= half posi­tion 5= full position
  • 5

Mar­ket Prep

Intra­day Fundamentals

• API report
  • Tomor­row
• EIA report
  • Wednes­day

Intra­day Tech­ni­cal Analysis

• HTF
  • Define con­text
    • Where were the overnight highs and lows and PVA?
      • High 57.804
      • PVAH 57.305
      • PPOC 56.833
      • PVAL 56.443
      • Low 56.330
    • Where is the LIS?
      • PVAH area
    • What didn’t happen?
      • No hard HTF200MABO rather a hard reject fol­lowed by small PA that crossed the 200MA
    • 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?
        • We crossed out of HTF R resis­tance pos­si­ble fol­low-through on move how­ev­er be open for a move back in

• TTF
  • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
    • HTF200MACAS
  • What has the Asian Ses­sion printed?
    • HTF VWAP PB and PA moved back into HTF KC

Trade Idea

• Hypo 1 Long
  • HTF200MACAS
  • Entry around 57.50
  • Tar­gets 56.70
• Hypo 2 Short
  • TTFUKCCAR
  • Entry around 57.70
  • Tar­gets 57.50
• Hypo 3 Rota­tion­al 57.50 — 57.80

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
    • TTF R Over­bought after a HM move up, now back into KC
    • HTF has bro­ken out from HTF R resis­tance it seems, so pos­si­ble con­tin­u­a­tion on HTF UT
    • TTF R AD above 50MA/HTF VWAP
  • 17:35
    • Pos­si­ble TTF Over­sold that is at HTF 50MA (which is cross­ing up over the 200MA)
  • 18:05
    • Short term rever­sal after TTF R OVer­sold how­ev­er uncon­vinc­ing move up pos­si­ble con­tin­u­a­tion to down­side, won’t take any trades until there is more clarity
  • 18:35
    • No clar­i­ty yet. Pos­si­ble HTF50MACAS or per­haps a BD
    • Good day to doc­u­ment a HTF 50MA cross up over 200MA
  • 19:05
    • No signs of BD or rever­sal at this level
  • 19:35
    • Mar­ket has not made a move, HTF AD above 50MA

Dai­ly Report Card

Trade Idea

• Hypo 1 Long
  • HTF200MACAS
  • Entry around 57.50
  • Tar­gets 56.70
• Hypo 2 Short
  • TTFUKCCAR
  • Entry around 57.70
  • Tar­gets 57.50
• Hypo 3 Rota­tion­al 57.50 — 57.80

	Date:	7/8/2019	Week­ly Goal	Exe­cute A+ (TTF TC) / A setups (TTF NT)
	Com­bined Score	92
	Process Report Card (10 each)		Per­for­mance Report Card (10 each)
	5	Ses­sion PECS	90%	9	Real-time analy­sis
	8	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
	43	Total		49

• 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.
    • Did well here. Focussing on tak­ing less trades even for the exper­i­men­tal ones and changed my log­ging for­mat a bit in a more quan­ti­ta­tive way. 
• Review
  • Had one real trade idea and took it. 
• How accu­rate was my assess­ment of mar­ket context?
  • Hypo 2 — 80% 
    • The move turned out to be more over­bought then a CAR
  • Real-time analy­sis
    • Did fair­ly OK here. 
• How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
  • P: Thought I wouldn’t be this tired but I am. Took extra caution.
  • E: Did well here.
  • CS: At times it was hard to con­cen­trate because of being tired but I did well to fol­low my plan.
• Positive(s)
  • Did well to stay com­posed even though being a bit tired.
• Negative(s)
  • Even though I felt fine in the morn­ing and ear­ly after­noon I start­ed to feel tired dur­ing the ses­sion. I’ve logged in my jour­nal about this.

Feed­back?

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