24 Jul 24072019 Wednesday — Trade Plan & Journal
24072019 Wednesday — 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
- Weekly goal
- Perform daily health and performance tasks
- Yesterday tried going to bed as per health plan but could not manage to follow to the tee. I went to bed 15 minutes later than I should. Will focus on this.
- Perform daily health and performance tasks
- 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 good even though last night after I went to bed a little late I woke up an hour and a half later and had trouble falling asleep again so took a sleeping aid.
- How would you rate it (1–5)? 1/2 = don’t trade 3= quarter position 4= half position 5= full position
- 4
- 1st account: 25 contracts
- 2nd account (testing account): 5 contracts
- 4
Market Prep
Intraday Technical Analysis
- HHTF
- Moved back into KC after we had a D TT around 200MA area — KC sloping down though so might be more downside on the longer term
- HTF
- Levels
- Prev. High 57.425
- PVAH 56.423
- PPOC 56.195
- PVAL 55.891
- Prev. Low 55.723
- We had a HTF R U NT that went into HTF R Overbought and retreated to UKC/VWAP area and this morning traded slightly below VWAP — possible more downside on medium term — 200MA sloping down
- Levels
- TTF
- What has the Asian Session printed?
- After overbought position towards last night’s session we traded in TTF R sloping downwards above 200MA which is sloping upwards, possible move back to test 200MA
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
- HTF UKC BD
- What has the Asian Session printed?
Trade Idea
- Hypo 1 Short
- HTF UKC BD
- Entry around 56.85
- Targets 56.70, 56.55
- Hypo 2 Short
- TTF R Overbought
- Entry around 57.10
- Targets 56.90, 56.75, 56.55
- Hypo 3 Long
- HTF U TC @ 50MA
- Entry around 56.75
- Targets 57.20, 57.40
- Hypo 4 Rotational
- 56.85 — 57.25
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
- HHTF
- HHTF D TT @ LKC
- HTF
- HTF U TT @ UKCCAS
- TTF
- TTF R UKCCAS
- Opportunity (if any)
- TTF R UKCCAS
- HHTF
- 16:35
- Same as above
- 17:05
- HHTF
- Same
- HTF
- HTF U TT @ UKCCAS
- After we made a HTF LH
- TTF
- 2 times TTF R Overbought position, looks like HTF might BO bullish but no push behind the move yet
- Opportunity (if any)
- Unclear
- HHTF
- 17:35
- HHTF
- same
- HTF
- Squeeze going on
- TTF
- AD above 200MA possible short/medium term long move
- Opportunity (if any)
- HHTF
- 18:05
- HHTF
- same
- HTF
- same
- TTF
- TTF R LH
- Opportunity (if any)
- Potential 200MABD
- HHTF
- 18:35
- HHTF
- HHTF PB to 200MA
- HTF
- HTF R UKCCAS squeeze
- TTF
- TTF R 50MACAR
- Opportunity (if any)
- TTF200MABD
- HHTF
- 19:05
- HHTF
- Same
- HTF
- Same
- TTF
- Took position on TTF200MABD and closed off @ TTF LKC
- Reversal quickly happened after and this turned into a TTF R Oversold position instead of a valid TTF20MMABD
- However there is still a possibility of a PB to TTF200MACAR
- Opportunity (if any)
- TTF200MACAR
- TTF R Oversold @ LKCCAS
- HHTF
- 19:35
- HHTF
- HHTF PB to 200MACAS
- HTF
- HTF50MACAS to potentially UKCCAR
- TTF
- TTF200MABDF reversed into a move up over 200MA now looking for potential support
- Opportunity (if any)
- Unclear at the moment — 25 minutes until NY open
- HHTF
- 20:05
- HHTF
- HTF
- TTF
- Opportunity (if any)
- 16:05
Daily Report Card
Trade Idea
- Hypo 1 Short
- HTF UKC BD
- Entry around 56.85
- Targets 56.70, 56.55
- Hypo 2 Short
- TTF R Overbought
- Entry around 57.10
- Targets 56.90, 56.75, 56.55
- Hypo 3 Long
- HTF U TC @ 50MA
- Entry around 56.75
- Targets 57.20, 57.40
- Hypo 4 Rotational
- 56.85 — 57.25
Daily Report Card | ||
Date: | 7/24/2019 | |
Weekly Goal | Execute A+ / A setups | |
Combined Score | 99 | |
Process Report Card (10 each) | ||
10 | Session PECS | |
10 | Hypos | |
10 | Market Prep | |
10 | Daily review | |
9 | Progress tow. weekly goal | |
49 | Total | |
Performance Report Card (10 each) | ||
100% | 10 | Real-time analysis |
1/1 | 10 | Setups Identified (inc. TEST) |
1/1 | 10 | Setups taken |
0/1 | 10 | Erroneous Entries |
0/1 | 10 | Erroneous Exits |
50 | 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 UKCCAR | 10 | Scratched | Took risk off | - | - |
Took risk off | - | - | ||||||
Closed out position | - | - | ||||||
2 | 0 | 0 | 5 | Scratched | 2nd attempt | - | - |
- How accurate was my assessment of market context?
- Hypo 2 — 100%
- DId well here
- Real-time analysis — 100%
- Did well here
- Hypo 2 — 100%
- How well did I manage my physical, emotional and cognitive states?
- P: Did well here. Slept enough.
- E: Did well here.
- CS: Did well here. No dip.
- What’s one thing you learned today?
- I learned more about market context patterns.
- Positive(s)
- Did well to let HTF narrative lead
- Stayed calm and let trade have room to develop but scratched when it didn’t
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.
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