11 Jun 11062019 Tuesday — Trade Plan & Journal
11062019 Tuesday — Trade Plan
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 (for the past week)
- Weekly goal
- Eat less carbs. Gonna get back on it this week.
- How do you feel?
- I feel good although still not too sharp.
- How would you rate it (1–5)?
- 4
Market Prep
Intraday Fundamentals
- API report
- Coming out today.
- EIA report
- Coming out tomorrow.
Intraday Technical Analysis
- HTF
- Define context
- Where were the overnight highs and lows and PVA?
- High 54.933
- PVAH 54.529
- PPOC 54.369
- PVAL 53.932
- Low 53.141
- Where is the LIS?
- PVAL area
- What didn’t happen?
- No HTF200MABD
- 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?
- The HTF200MACAS could be in line with the HHTF break of DT
- 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?
- Where were the overnight highs and lows and PVA?
- Define context
- TTF
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
- TTF50MABO
- What has the Asian Session printed?
- AS has kept moving away from HTF200MA slowly crossing the VWAP
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
Trade Idea
- Hypo 1 Short
- TTF200MABOF / HTF50MADCAR
- Entry around 53.90
- Targets 53.70, 53.40
- Hypo 2 Long
- TTF200MABO
- Entry around 53.90
- Targets 54.40
- Hypo 3 Short
- TTF200MACAR
- Entry around 53.60
- Targets 53.15
My goals for the day (Daily Report Card)
- Define winning
- Size up and only take A+ (TTF TC) and A (TTF NT) setups to build a track record to analyze later but be open to experiment with TTF R setups
Reading the Tape
- What is printing?
- 16:05
- We had a TTF200MABO earlier and a consequent LH and returned to TTF200MA let’s see if it’s a CAS or BD
- 16:35
- TTF200MACAS into LH below UKC, TTF R in effect
- 17:05
- TTF R below VWAP but still no move
- 17:35
- TTF R 200MACAS into possible 50MABO
- HTF R 50MABO attempt
- 18:05
- TTF200MABOF
- 18:35
- Still no move away from TTF50MA LTF200MA
- LTF50MA200MACO
- 19:05
- 19:35
- 20:05
- 16:05
Trade Management
Explain what trade you put on (include price, SL, TP) and what your thoughts are during the trade
- T1 (experimental)
- Why? What do I see?
- HTF
- HTF R 50MABO attempt
- TTF
- TTF R U TC 50MAPB
- Entry 10 around 53.83
- LTF
- LTF200MABO + PB
- HTF
- SL
- 53.54
- TP
- 54.19
- Trade Management
- Scratched at 53.86 +3 ticks just before it dropped 20 ticks
- Why? What do I see?
Daily Report Card
Trade Idea
- Hypo 1 Short
- TTF200MABOF / HTF50MACAR
- Entry around 53.90
- Targets 53.70, 53.40
- Hypo 2 Long
- TTF200MABO
- Entry around 53.90
- Targets 54.40
- Hypo 3 Short
- TTF200MACAR
- Entry around 53.60
- Targets 53.15
Date: | 6/11/2019 | Weekly Goal | Execute A+ (TTF TC) / A setups (TTF NT) | |||
Combined Score | 83 | |||||
Process Report Card (10 each) | Performance Report Card (10 each) | |||||
9 | Session PECS | 90% | 9 | Real-time analysis | ||
5 | Hypos | 1/2 | 5 | Setups Identified (TEST) | ||
10 | Trading the process | 1/2 | 5 | Setups taken | ||
10 | Daily review | 0 | 10 | Erroneous Entries | ||
10 | Progress tow. weekly goal | 0 | 10 | Erroneous Exits | ||
44 | Total | 39 | ||||
- Weekly Goal
- Size up and only take A+ (TTF TC) and A (TTF NT) setups to build a track record to analyze later but be open to experiment with TTF R setups
- I did well experimenting although there were 2 setups I could have taken but only took 1 but didn’t have a chance to size up on my A/A+ setups since there wasn’t any.
- Size up and only take A+ (TTF TC) and A (TTF NT) setups to build a track record to analyze later but be open to experiment with TTF R setups
- Review
P/L ticks | Entry Errors | Exit Errors | Type Trade | Sizing | Hit Target? | Reason to cover | Problem | Proposed solution | |
- | - | - | TTF R D TC (NOT TAKEN) | - | - | - | - | Didn’t take it because 200MA was right under it so second-guessed myself | I’ll write it up in my PB but not gonna stress too much about not taking this trade |
3 | 0 | 0 | TTF R U TC | 10 | NO | Scratched | No momentum move in direction so covered | - | - |
- If I’m completely honest I could have taken 2 experimental setups but missed one. Even though it would have not been a solid trade it was technically my experimental setup.
- The trade I did take didn’t move as fast as I had liked. There was no momentum left to push the move. As soon as I scratched price dropped 20 ticks. Keep listening to that voice. It knows when something is up.
- How accurate was my assessment of market context?
- Hypo 2 — 50%
- We BO was before EU session started and the session spend time in CAS mode
- Hypo 2 — 50%
- How well did I manage my physical, emotional and cognitive states?
- I was feeling tired and not as sharp but did well today to stay out of trouble.
- What’s one thing you learned today?
- That I understand how my multiple time frame analysis works within the bounds of my perspective on technical analysis
- What’s one thing I need to do more often?
- Stay patient
- What’s one thing I need to do less often?
- Second-guess myself
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.
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