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

• 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

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

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
  • SL
    • 53.54
  • TP
    • 54.19
  • Trade Man­age­ment
    • Scratched at 53.86 +3 ticks just before it dropped 20 ticks

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.
• 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
• 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.