08 Aug 08082019 Thursday — Trade Plan & Journal
08082019 Thursday — 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
- 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 although feeling a little lack of energy somehow.
- 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?
- Drop to Daily support level with immediate bounce back
- What is the market narrative?
- HTF
- Levels
- Prev. High 53.733
- PVAH 53.733
- PPOC 53.461
- PVAL 51.394
- Prev. Low 50.468
- What is the market narrative and bias?
- Yesterday there was a D TC that got pushed back hard and now we’re trading back in KC with small PA crossing the 50MA without any interaction. Lack of clarity here on the narrative.
- Levels
- TTF
- Does the Asian session show clues that align with market narrative?
- PA is trading high in KC sloping up with small PA, the small PA is kinda making me think we will have a counter-move but will need to wait for confirmation
- Does the Asian session show clues that align with market narrative?
Trade Idea (lack of clarity)
- Hypo 1 Long
- HTF R 50MABO+PB
- Entry around 52.65
- Targets 53.05, 53.45
- Hypo 2 Short
- HTF UKCCAR
- Entry around 52.90
- Targets 52.40, 51.80
- Hypo 3 Rotational
- 51.90–52.80
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?
- 15:05
- HTF
- What is the market narrative?
- WE had a D TT yesterday that looks exhausted and small PA sloping up not interacting with 50MA, something is up. VWAP is possible crossing over 50MA and PA is about to touch it
- What is the market narrative?
- TTF
- TTF rolling over into R
- Bias
- Unclear at the moment
- Opportunity (if any)
- What setup am I going to stalk?
- None ATM
- What setup am I going to stalk?
- HTF
- 15:35
- HTF
- What is the market narrative?
- Possible HTF50MABD
- What is the market narrative?
- TTF
- TTF made a move below LKC, Oversold territory, no signs of continuation just yet
- Bias
- Slightly short but need more confirmation
- Opportunity (if any)
- What setup am I going to stalk?
- None ATM
- What setup am I going to stalk?
- HTF
- 16:35
- HTF
- What is the market narrative?
- Still same
- What is the market narrative?
- HTF
- 17:35
- HTF
- What is the market narrative?
- Same
- What is the market narrative?
- TTF
- Bounces below 50MA could be worth researching to see if there’s an edge
- Bias
- Short but not going to trade on it. Just sitting back and logging market structure
- Opportunity (if any)
- What setup am I going to stalk?
- HTF
- 15:05
Daily Report Card
Trade Idea (lack of clarity)
- Hypo 1 Long
- HTF R 50MABO+PB
- Entry around 52.65
- Targets 53.05, 53.45
- Hypo 2 Short
- HTF UKCCAR
- Entry around 52.90
- Targets 52.40, 51.80
- Hypo 3 Rotational
- 51.90–52.80
Daily Report Card | ||
Date: | 8/8/2019 | |
Weekly Goal | Execute A+ / A setups | |
Combined Score | 97 | |
Process Report Card (10 each) | ||
10 | Session PECS | |
7 | Hypos | |
10 | Market Prep | |
10 | Daily review | |
10 | Progress tow. weekly goal | |
47 | Total | |
Performance Report Card (10 each) | ||
100% | 10 | Real-time analysis |
0/0 | 10 | Setups Identified (inc. TEST) |
0/0 | 10 | Setups taken |
0/0 | 10 | Erroneous Entries |
0/0 | 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 | Size | Reason to cover | Problem | Proposed solution | |
- | - | - | - | - | - | - | - | - |
1 | - | - | Quick scalp | 5 | - | - | - | - |
- How accurate was my assessment of market context?
- Hypo 2 — 70%
- Did OK here
- Real-time analysis — 100 %
- Did well here
- Hypo 2 — 70%
- How well did I manage my physical, emotional and cognitive states?
- P: Did well here
- E: Did well here
- CS: Did well here
- What’s one thing you learned today?
- That I am coming to grips with the way my approach works.
- Positive(s)
- I only took one scalp because I saw an opportunity and I took it. I normally don’t do this.
- I stayed away from taking a directional position because I it was a new market narrative that I was not too familiar with.
- I logged the details of the session into my PB
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.
No Comments