23 Jul 23072019 Tuesday — Trade Plan & Journal
23072019 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
- HHTF = Higher High Time Frame
- Hypo = HYPOthetical
Health review (for the past week)
- Weekly goal
- I did not get enough sleep over the weekend so did not trade yesterday and today I will take it easy.
- 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 OK. Definitely need another day top recoup.
- How would you rate it (1–5)? 1/2 = don’t trade 3= quarter position 4= half position 5= full position
- 3
Market Prep
Intraweek Fundamentals
- API report
- Today
- EIA report
- Tomorrow
Intraday Technical Analysis
- HHTF
- Possible Oversold are forming D TT @ 200MA
- HTF
- Prev. High 57.010
- PVAH 56.440
- PPOC 56.258
- PVAL 56.016
- Prev. Low 55.767
- TTF
- What has the Asian Session printed?
- Small PA possible HTF apex below 200MA, TTF crossed over 200MA but PA still within prev. VA
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
- HTF200MABO
- HTFLKCCAS
- What has the Asian Session printed?
Trade Idea (less clarity)
- Hypo 1 Long
- TTF200MACAS into U NT
- Entry around 56.25
- Targets 56.40, .55, .70, .95
- Hypo 2 Short
- TTF200MABD
- Entry around 56.15
- Targets 56.-, 55.80
- TTF200MABD
- Hypo 3 Rotational
- 56 — 56.40
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?
- 16:05
- HTF
- We had a HTF200MACAR just before open
- TTF Overbought before open into TTF R
- Opportunity (if any)
- HTF50MABO + PB
- HTF
- 16:35
- HTF
- Potential 50MABO
- TTF
- TTF R AD long-bodied candles looks like market is loading up for possible HTF50MABO?
- Opportunity (if any)
- HTF50MABO + PB
- 1st effort — scratched
- still valid opportunity — TTF R still valid
- HTF50MABO + PB
- HTF
- 17:05
- HTF
- Still above VWAP no reason to believe HTF50MA is not in effect anymore
- TTF
- TTF R AD testing 200MA right now if there is a BD I will stop out
- Opportunity (if any)
- Still HTF50MABO attempt
- 2nd effort in process, no SO yet, if there is failure then we might have a double touch HTF200MACAR meaning we could see a bigger move to possibly HTFLKC
- HTF
- 17:35
- HTF
- HTF R within SD
- TTF
- TTF R still in process no clear signs on market direction just yet
- Opportunity (if any)
- SO on HTF50MABO
- Possible HTF50MACAR to LKC, waiting for TTFLKCBD to start a TTF D NT or TC
- HTF
- 18:05
- HTF
- Possible HTF200MACAR and PA rejecting 50MA
- TTF
- TTF R 50MA CAR into big drop from 200MA possible BD
- Opportunity (if any)
- HTF50MACAR with TTF R D NT
- HTF
- 18:35
- HTF
- HTF showing bearish signs especially after the TTF50MACAR however we are still within TTF R
- TTF
- TTF R still in effect had a 50MACAR but still within bounds
- Opportunity (if any)
- HTF50MACAR with TTF R D NT through LKC BD
- HTF
- 19:05
- HTF
- Drop to HTF LKC as part of HTF R 50MACAR
- TTF
- TTF R 50MACAR to LKC BD
- Opportunity (if any)
- Even though PA dropped to HTF LKC in a very steep decline it is possible that there is a reversal coming up. Reason for thinking this is that VWAP is still above LKC and before we could have a TC we would need the VWAP to drop further
- HTF
- 16:05
Daily Report Card
Trade Idea (less clarity)
- Hypo 1 Long
- TTF200MACAS into U NT
- Entry around 56.25
- Targets 56.40, .55, .70, .95
- Hypo 2 Short
- TTF200MABD
- Entry around 56.15
- Targets 56.-, 55.80
- TTF200MABD
- Hypo 3 Rotational
- 56 — 56.40
Daily Report Card | ||
Date: | 7/23/2019 | |
Weekly Goal | Execute A+ / A setups | |
Combined Score | 88 | |
Process Report Card (10 each) | ||
7 | Session PECS | |
8 | Hypos | |
10 | Market Prep | |
10 | Daily review | |
8 | Progress tow. weekly goal | |
43 | Total | |
Performance Report Card (10 each) | ||
100% | 10 | Real-time analysis |
2/2 | 10 | Setups Identified (inc. TEST) |
2/2 | 10 | Setups taken |
1/2 | 5 | Erroneous Entries |
0/2 | 10 | Erroneous Exits |
45 | total | |
- 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 | TTF R 50MABO + PB | 2 | Scratched | No follow-through on BO | - | - |
2 | 0 | 0 | TTF R AD 200MACAS | 2 | SO | Stop out just below TTF R LKC | - | - |
3 | 1 | 0 | TTF R AD LKC BD | 2 | Scratched | realized I went long instead of short and scratched | Clicked wrong button | My CS was down after eating dinner probably too much carbs because I feel suddenly very tired — no more big meals during or before the session — light meals only |
4 | 0 | 0 | TTF D TC @ 1.0 SD | 5 | Scratched | crossed 1.0 SD | - | - |
- How accurate was my assessment of market context?
- Hypo 3 — 80%
- Traded below what I indicated
- Real-time analysis — 100%
- I did well here
- Hypo 3 — 80%
- How well did I manage my physical, emotional and cognitive states?
- P: Did well here
- E: DId well here
- CS: Had a moment of sudden tiredness that caused me to get out of flow
- What’s one thing you learned today?
- This was another SPD for me so took a lot of notes today for my PB
- Positive(s)
- Found another SPD for my PB
- When I messed up I stayed calm and reassessed if my entry would be good at this point and I decided against it.
- Negative(s)
- Messed up by going long instead of short when trying to follow my 2nd narrative
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.
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