25062019 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 only 2 meals a day
- How do you feel? Have you recently had a break of daily routine (like a trip)?
- I feel OK but sluggish even though I slept enough I feel like I might be getting sick
- How would you rate it (1–5)? 1 = don’t trade 2/3 =half position sizing 4/5 = full position
- 4
Market Prep
Intraday Fundamentals
- API report
- Today
- EIA report
- Tomorrow
Intraday Technical Analysis
- HTF
- Define context
- Where were the overnight highs and lows and PVA?
- High 58.196
- PVAH 58.162
- PPOC 57.813
- PVAL 57.528
- Low 56.735
- Where is the LIS?
- PVAL area
- What didn’t happen?
- We didn’t have a reversal instead we are balancing at this level
- 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?
- Balancing with potential for more upside on the medium to long term
- 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
- What has the Asian Session printed?
- LTF D NT with no TC instead TT indicating possible momentum build up (or push) on higher time frame due to shorter cycles(?)
- 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 57.60
- Targets 58.15
- Hypo 2 Short
- TTF200MACAR
- Entry around 57.50
- Targets 56.80
- Hypo 3 Prev Low CAS
- Entry around 56.90
- Targets 57.40
My goals for the day (Daily Report Card)
- Define winning
- Have patience in only taking 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 on 2nd account. Earn the right to size up.
Reading the Tape
- What is printing?
- 15:05
- HTF R U NT, TTF200MABO + TTF200MAUKCCAS
- 15:35
- No real move to HTF UKC, but still above HTF50MA / TTF UKC
- 16:05
- Still same, market hasn’t made a move yet
- 16:35
- market hasn’t made a move yet
- 17:05
- market hasn’t made a move yet
- 17:35
- market hasn’t made a move yet
- 18:05
- ttf50MABD to TTF200MA / HTF50MA might find support
- 18:35
- Move down to TTFLKC
- 19:05
- TTFLKCCAS
- 15:05
Daily Report Card
Trade Idea
- Hypo 1 Long
- TTF200MABO
- Entry around 57.60
- Targets 58.15
- Hypo 2 Short
- TTF200MACAR
- Entry around 57.50
- Targets 56.80
- Hypo 3 Prev Low CAS
- Entry around 56.90
- Targets 57.40
| Date: | 6/25/2019 | Weekly Goal | Execute A+ (TTF TC) / A setups (TTF NT) | |||
| Combined Score | 94 | |||||
| Process Report Card (10 each) | Performance Report Card (10 each) | |||||
| 7 | Session PECS | 100% | 10 | Real-time analysis | ||
| 7 | Hypos | 1/1 | 10 | Setups Identified (inc. TEST) | ||
| 10 | Trading the process | 1/1 | 10 | Setups taken | ||
| 10 | Daily review | 0/1 | 10 | Erroneous Entries | ||
| 10 | Progress tow. weekly goal | 0/1 | 10 | Erroneous Exits | ||
| 44 | Total | 50 | ||||
- Weekly Goal
- Have patience in only taking 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 on 2nd account. Earn the right to size up.
- Did well here
- Have patience in only taking 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 on 2nd account. Earn the right to size up.
- Review
| P/L ticks | Trade | Entry Errors | Exit Errors | Type Trade | Sizing | Reason to cover | Problem | Proposed solution | |
| 9.4 | 1 | 0 | 0 | (experimental) HTF R U NT | 1 | Hit target | Conservative target of 1.0SD | - | - |
- How accurate was my assessment of market context?
- Hypo 1 — 70%
- Happened before the session started
- Real-time analysis
- Did well here
- Hypo 1 — 70%
- How well did I manage my physical, emotional and cognitive states?
- P: feel sluggish still and might be coming down with something. Throat is scratchy as well.
- E: DId well here.
- CS: Can definitely be sharper. Get some extra sleep tonight and see how I feel tomorrow.
- What’s one thing you learned today?
- That I should consider trading my setup on all time frames but perhaps probably with different sizing. I’ll think about this some more.
- What’s one thing I need to do more often?
- Keep analyzing and writing setups for PB
- What’s one thing I need to do less often?
- Thinking that I need to trade more. Just focus on taking a scientific approach. All the rest is just ways to NOT get to where you want to be. Stay in the zone by listening to that scientist’s voice.
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.