09082019 Friday — Trade Plan & Journal

09082019 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
• 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
  • No rice and noo­dles except for the first meal
• 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 even though I feel like I didn’t sleep too well. 
• 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
  • 5= full posi­tion = 1st 50 2nd 10

Mar­ket Prep

Intra­day Tech­ni­cal Analysis

• HHTF
  • What is the mar­ket narrative?
    • HHTF D TT 1.0 SD CAS
• HTF
  • Lev­els
    • Prev. High 52.983
    • PVAH 52.686
    • PPOC 52.486
    • PVAL 52.161
    • Prev. Low 51.826
  • What is the mar­ket nar­ra­tive and bias?
    • HTF Squeeze show­ing bounces pos­si­ble sup­port at the base of the bounces, trade idea inval­i­dat­ed with breach of the same level
    • Long biased because of the bounces
• TTF
  • Does the Asian ses­sion show clues that align with mar­ket narrative?
    • Exhaust­ed TTF R 200MABDF pos­si­bil­i­ty for upside from here on

Trade Idea

• Hypo 1 Long
  • HTF Squeeze 1.5 SD CAS
  • Entry around 52.50
  • Tar­gets 52.70, 52.90,  53.20
• Hypo 2 Short
  • HTF Squeeze BD
  • Entry around 52.10
  • Tar­gets 51.90, 51.60
• Hypo 3 Rotational
  • 52.20 — 52.90

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? 
  • 17:05
    • HTF
      • What is the mar­ket narrative?
        • HTF Squeeze CAR area
    • TTF
      • TTF R Over­bought posi­tion pos­si­ble reversal
    • Bias
      • Short on short-term but need more confirmation
    • Oppor­tu­ni­ty (if any)
      • What set­up am I going to stalk?
        • TTF R over­bought VWAP BD
  • 17:35
    • HTF
      • What is the mar­ket narrative?
        • Same
    • TTF
      • I’ve seen this pat­tern before and if I remem­ber cor­rect­ly (which I vague­ly do) this is going to have some more upside pos­si­ble BO from HTF UKC
    • Bias
      • Long
    • Oppor­tu­ni­ty (if any)
      • What set­up am I going to stalk?
  • 18:05
    • HTF
      • What is the mar­ket narrative?
        • Same but since we haven’t real­ly test­ed sup­port it looks like more upside from here
    • TTF
      • TTF R AD in Over­bought posi­tion with pos­si­ble U TC at VWAP
      • Since I am not entire­ly sure about this par­tic­u­lar nar­ra­tive I am going to doc­u­ment the ses­sion and stay out of any trades unless 90% con­fir­ma­tion of move
    • Bias
      • Long
    • Oppor­tu­ni­ty (if any)
      • What set­up am I going to stalk?
        • Stay­ing out for the moment
  • 18:35
    • HTF
      • What is the mar­ket narrative?
        • Move to HTF UKC pos­si­ble BO
    • TTF
      • TTF U TC @ VWAP with steep move up, exhaustion?
    • Bias
      • Long if there is con­tin­u­a­tion oth­er­wise a pos­si­ble HTF R UKCCAR and bias to short in that case
    • Oppor­tu­ni­ty (if any)
      • What set­up am I going to stalk?
        • Need more con­fir­ma­tion but pos­si­ble HTF R UKCCAR if we break down from 1.0 SD, but will have to wait for the back­side and not trade the front
  • 19:05
    • HTF
      • What is the mar­ket narrative?
        • HTF Squeeze BO pos­si­bly set­ting up for a PB
    • TTF
      • Dying off of momen­tum just below HTF200MA could be just a PB but we’ll see.
    • Bias
      • Long
    • Oppor­tu­ni­ty (if any)
      • What set­up am I going to stalk?
        • Pos­si­ble TTF U TC @ VWAP
  • 19:35
    • HTF
      • What is the mar­ket narrative?
        • We have the PB to HTF UKC how­ev­er TTF is show­ing a breach of VWAP and there­fore I lost con­fi­dence in more upside from here on. 
    • TTF
      • Brach VWAP gonna wait for either a BD from VWAP + PB to go short for long I am uncer­tain at this point
    • Bias
      • Not too con­vinc­ing­ly clear but slight­ly short
    • Oppor­tu­ni­ty (if any)
      • What set­up am I going to stalk?
      • HTF UKC BO +PB or HTF R Overbought

Dai­ly Report Card

Trade Idea

• Hypo 1 Long
  • HTF Squeeze 1.5 SD CAS
  • Entry around 52.50
  • Tar­gets 52.70, 52.90,  53.20
• Hypo 2 Short
  • HTF Squeeze BD
  • Entry around 52.10
  • Tar­gets 51.90, 51.60
• Hypo 3 Rotational
  • 52.20 — 52.90

	Dai­ly Report Card
Date:	8/9/2019
Week­ly Goal	Exe­cute A+ / A setups
Com­bined Score	100
Process Report Card (10 each)
	10	Ses­sion PECS
	10	Hypos
	10	Mar­ket Prep
	10	Dai­ly review
	10	Progress tow. week­ly goal
	50	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	Size	Rea­son to cover	Prob­lem	Pro­posed solution
-	-	-	-	-	-	-	-	-
1	0	0	HTF Squeeze CAS 1.5 SD	5	TP	Hit 2nd Target	-	-

• How accu­rate was my assess­ment of mar­ket context?
  • Hypo 1 — 100%
    • Did well here
  • Real-time analy­sis — 100%
    • Did well here
• 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?
  • I learned a lot about mar­ket nar­ra­tive today. Can’t wait to go back and review
• Positive(s)
  • I keep fol­low­ing my process and it has been work­ing well for me. Less is def­i­nite­ly MORE.
• Negative(s)
  • I’m just gonna enjoy this win and come back tomor­row to review. 

Feed­back?

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