19072019 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
- LTF = Lower Time Frame
- TTF = Trading Time Frame
- HTF = Higher Time Frame
- Hypo = HYPOthetical
Health review (for the past week)
- 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?
- How would you rate it (1–5)? 1/2 = don’t trade 3= quarter position 4= half position 5= full position
Market Prep
NO MARKET PREP
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?
- TTF R no movement
Daily Report Card
No HYPOS
| Date: | 7/19/2019 | Weekly Goal | Execute A+ (TTF TC) / A setups (TTF NT) | |||
| Combined Score | 78 | |||||
| Process Report Card (10 each) | Performance Report Card (10 each) | |||||
| 10 | Session PECS | 100% | 10 | Real-time analysis | ||
| 0 | Hypos | 2/2 | 10 | Setups Identified (inc. TEST) | ||
| 0 | Market Prep | 2/2 | 10 | Setups taken | ||
| 10 | Daily review | 0/2 | 10 | Erroneous Entries | ||
| 8 | Progress tow. weekly goal | 0/2 | 10 | Erroneous Exits | ||
| 28 | Total | 50 | ||||
- Weekly Goal
- Only trade A/A+ trade ideas
- Forward test experimental trades
- Review
| Trade | Entry Errors | Exit Errors | Type Trade | Sizing | Reason to cover | Problem | Proposed solution | |
| 1 | 0 | 0 | (experimental) TTF50MACAR | 1 | SO | stopped out | - | - |
| 2 | 0 | 0 | (experimental) TTF R AD U NT | 1 | scratched | momentum died off | - | - |
| 3 | 0 | 0 | (experimental) TTF R AD U NT | 1 | TP | 2nd trend leg took profit at 1.0 SD | - | - |
- How accurate was my assessment of market context?
- Hypo
- Did not make any hypos today because I did not have any time to do my market prep
- Real-time analysis
- Did well here
- Hypo
- 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 focussing on clear patterns is key and rest is noise.
- Positive(s)
- Did well to switch gears from short to long.
- Negative(s)
- Could not get my market prep in due to work-related engagement (which is OK). Even without a trading plan for the day I stayed composed in trying to read the market narrative
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.