18062019 Tuesday — 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 (for the past week)
- Weekly goal
- Eat less carbs. Especially after my trip to Tokyo will need some balance days.
- How do you feel?
- I feel better than yesterday
- How would you rate it (1–5)?
- 4
Market Prep
Intraday Fundamentals
- API report
- Coming out today
- EIA report
- Tomorrow
- Forecast: ‑2.033
Intraday Technical Analysis
- HTF
- Define context
- Where were the overnight highs and lows and PVA?
- High 52.968
- PVAH 52.694
- PPOC 52.480
- PVAL 52.046
- Low 51.744
- Where is the LIS?
- 52.20 area
- What didn’t happen?
- No TTF50MA & 200MABO
- 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?
- HTF R in effect still
- 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?
- TTF200MABO = HTF200MABO
- What has the Asian Session printed?
- Messy narrow PA just above HTFLKC
- 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 Long
- TTF200MABO
- Entry around 52.25
- Targets 52.65, 52.90
- Hypo 2 Rotational 52.95 — 52.20
- Hypo 3 Short
- TTF200MACAR
- Entry around 52.05
- Targets 51.95, 51.75, 51.20
My goals for the day (Daily Report Card)
- Define winning
- Size up and have patience in 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?
- 15:05
- Possible HTFLKCCAS below TTFLKC thus possible reversal
- Spread wider than usual at 49
- 15:35
- TTF A/D at HTFLKC possible absorption, possibly indicated by LTF R
- 16:05
- Spike up to TTF50MA but no confirmation of BO yet, possible PB to VWAP for a TTF NT
- 16:35
- Possible TTF200MABO
- 17:05
- TTF R in effect
- 17:35
- Stopped at TTFLKC
- 18:05
- Not much going on below TTF R 50MA
- 18:35
- HL @ TTF LKC no break down yet
- 19:05
- TTF R 50MABO low momentum possible reversal
- 19:35
- NO BO from KC yet. TTF R 50MACAS + possible 200MABO
- 15:05
Daily Report Card
Trade Idea
- Hypo 1 Long
- TTF200MABO
- Entry around 52.25
- Targets 52.65, 52.90
- Hypo 2 Rotational 52.95 — 52.20
- Hypo 3 Short
- TTF200MACAR
- Entry around 52.05
- Targets 51.95, 51.75, 51.20
| Date: | 6/18/2019 | Weekly Goal | Execute A+ (TTF TC) / A setups (TTF NT) | |||
| Combined Score | 50 | |||||
| Process Report Card (10 each) | Performance Report Card (10 each) | |||||
| 8 | Session PECS | 30% | 3 | Real-time analysis | ||
| 9 | Hypos | 0/2 | 0 | Setups Identified (inc. TEST) | ||
| 10 | Trading the process | 0/2 | 0 | Setups taken | ||
| 10 | Daily review | 2/2 | 0 | Erroneous Entries | ||
| 10 | Progress tow. weekly goal | 2/2 | 0 | Erroneous Exits | ||
| 47 | Total | 3 | ||||
- Weekly Goal
- Size up and have patience in 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 | |
| -24.3 | 1 | 1 | (experimental) TTF200MABO | 5 | NO | SO | stopped out | Didn’t realize TTF R was in play | Categorize days that TTF R was in play and rewatch videos and review TTF R PB setups |
| -15.9 | 1 | 1 | (experimental) TTF R LKCBO | 5 | NO | SO | stopped out | ||
| -4.8 | 1 | 1 | (experimental TTF R LKCCAS) | 5 | NO | SO | stopped out |
- When T1 did not happen I should have been on guard that something was up. I proposed a solution to battle this for next time.
- How accurate was my assessment of market context?
- HYPO 2 — 90%
- Instead of 52.95 we rotated between 51.65 and 52.20
- Real-time analysis was very poor today. I give myself a bit of points for recognizing when my trades were not valid anymore and I took my stops.
- HYPO 2 — 90%
- How well did I manage my physical, emotional and cognitive states?
- I thought I was OK but not as good as usual, better than yesterday though so didn’t trade yesterday. Because I didn’t feel optimal today I cut my sizing in half.
- What’s one thing you learned today?
- Re-affirmed that when market context isn’t clear that something is going on, also indicated by A/D patterns + PA not following levels
- What’s one thing I need to do more often?
- Get good rest. If not, be more careful.
- What’s one thing I need to do less often?
- Let social life get in my way of chasing my dream.
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.