25062019 Tuesday — Trade Plan & Journal

25 Jun 25062019 Tuesday — Trade Plan & Journal

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

• 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(?) 

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

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
• 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
• 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.