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01072019 Monday — Trade Plan & Journal

01072019 Monday — Trade Plan & Journal

01072019 Mon­day —  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 2 meals a day
  • How do you feel? Have you recent­ly had a break of dai­ly rou­tine (like a trip)?
    • Had a busy week­end and did have enough sleep last night.
  • How would you rate it (1–5)? 1 = don’t trade 2/3 =half posi­tion siz­ing 4/5 = full position
    • 3

Mar­ket Prep

Intra­day Fundamentals

  • API report
    • Tomor­row
  • EIA report
    • Wednes­day

Intra­day Tech­ni­cal Analysis

  • HTF
    • Define con­text
      • Where were the overnight highs and lows and PVA?
        • High    59.782
        • PVAH    59.569
        • PPOC    59.141
        • PVAL    58.996
        • Low    57.748
      • Where is the LIS?
        • PPOC area
      • What didn’t happen?
        • We broke HTF200MA but then gapped up at AS open
      • 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?
          • Tech­ni­cal­ly HTF R is still in effect how­ev­er we might be BO
  • TTF
    • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
      • HTF Over­bought or HTFUKCCAR
    • What has the Asian Ses­sion printed?
      • Gap up and then trad­ed slight­ly higher

Trade Idea 

  • Hypo 1 Short
    • HTFUKCCAR
    • Entry around 59.60
    • Tar­gets 59.30, extend­ed 59.05
  • Hypo 2 Long
    • HTF50MACAS
    • Entry around 59.30
    • Tar­gets 59.50, 59.70, extend­ed 60.20
  • Hypo 3 Short
    • TTF200MABD
    • Entry around 59.15
    • Tar­gets 58.90, 58.70, extend­ed 58.20

My goals for the day (Dai­ly Report Card)

  • Define win­ning
    • Only focus on A/A+ setups and work on con­sis­ten­cy in tak­ing them. To have a bet­ter sam­ple size I will need to go through a few cycles before I can think of the next lev­el. Do this for the next month at least. It would be 3 months by then and I can ana­lyze my trad­ing and reassess if need be. 

Read­ing the Tape

  • What is printing? 
    • 16:05
      • TTF UT going on but per­haps los­ing momentum
    • 16:35
      • Price BD from TTF UKC and VWAp now at 50MA, pos­si­ble fur­ther BD
    • 17:05
      • Noth­ing going on
    • 17:35
      • Noth­ing going on
    • 18:05
      • Not much going on. Haven’t reversed. TTF KC widened, LTF R going on
    • 18:35
      • PA still slug­gish and reached TTF LKC and BD from HTF UKC
    • 19:05
      • Pos­si­ble con­tin­u­a­tion of TTFLKCBD
    • 19:35
      • Con con­tin­u­a­tion how­ev­er we reversed and are about to test 50MA

Dai­ly Report Card

Trade Idea 

  • Hypo 1 Short
    • HTFUKCCAR
    • Entry around 59.60
    • Tar­gets 59.30, extend­ed 59.05
  • Hypo 2 Long
    • HTF50MACAS
    • Entry around 59.30
    • Tar­gets 59.50, 59.70, extend­ed 60.20
  • Hypo 3 Short
    • TTF200MABD
    • Entry around 59.15
    • Tar­gets 58.90, 58.70, extend­ed 58.20









Date:7/1/2019Week­ly GoalExe­cute A+ (TTF TC) / A setups (TTF NT)















Com­bined Score52











Process Report Card (10 each)
Per­for­mance Report Card (10 each)

2Ses­sion PECS20%2Real-time analy­sis

7Hypos4/57Setups Iden­ti­fied (inc. TEST)

1Trad­ing the process4/410Setups tak­en

10Dai­ly review1/47Erro­neous Entries

1Progress tow. week­ly goal2/45Erro­neous Exits

21Total
31








  • Week­ly Goal
    • Only focus on A/A+ setups and work on con­sis­ten­cy in tak­ing them. To have a bet­ter sam­ple size I will need to go through a few cycles before I can think of the next lev­el. Do this for the next month at least. It would be 3 months by then and I can ana­lyze my trad­ing and reassess if need be. 
  • Review
P/L ticksTradeEntry ErrorsExit ErrorsType TradeSiz­ingRea­son to coverProb­lemPro­posed solution
-25.7100(exper­i­men­tal) HTF Gap1SOStopped Out--
-5.7200TTF U TC2SOStopped Out--
-11.6300TTF U TC2SOStopped Out--
-45.5401(exper­i­men­tal) TTFLKCBD2SOStopped OutMoved stopTake a break after 3 loss­es and reassess if you’re in the right state of mind
-36.1511(exper­i­men­tal) TTFLKCBD2SOStopped OutAdded to pre­vi­ous los­ing position
  • First trade was dur­ing Asian Ses­sion and took the small­est amount I could trade.
  • The rest were dur­ing the EU session
    • Num­ber 2 and 3 were good setups but got stopped out
    • 4 and 5 was hor­ri­ble. Did not take my stop and moved it. Then decid­ed to put it extra wide not think­ing clear. On top of that num­ber 5 was an add to the pre­vi­ous los­er num­ber 4. I am tired and not think­ing straight today. I’ve had a good run of not mess­ing up for a while but today I messed up every­thing. One good thing is that I used small posi­tion sizes and did not increase siz­ing and over­all lost 2% of account (account­ing for all 5 trades). Trade 2 and 3 should have been tak­en on my 1st account but that didn’t work today for some rea­son. Already con­tact­ed bro­ker about this. So loss­es on 2nd (test) account should be slight­ly less
    • How will I work on pre­vent­ing this in the future? 
      • 2 things
        • 1) when I did my health assess­ment I should have been more crit­i­cal and adjust­ed my tem­plate to incor­po­rate a stricter val­u­a­tion of sleep. I had 2 nights of insuf­fi­cient sleep in a row and this has dras­ti­cal­ly low­ered my abil­i­ty to stay focused on my plan and basi­cal­ly start decid­ing things in the moment. Very wrong. Thus no more trad­ing if this is the case. 
        • 2) after I had tak­en 3 Loss­es I should have reassessed my men­tal state or at least tak­en a walk to try and clear my head. Stuck a post it to my screen. 
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 2 — 70%
      • We didn’t quite drop as low
    • Real-time analy­sis
      • 20% see above
  • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
    • P: Bad. Didn’t sleep enough the last 2 days.
    • E: I wasn’t too emo­tion­al just ‘unwill­ing’ to obey my rules
    • CS: Severe­ly impaired, see above
  • What’s one thing you learned today?
    • That I should be stricter with my sleep reg­i­ment and if I did not get enough sleep for 2 or more days I should not trade.
  • What’s one thing I need to do more often?
    • Get more sleep. I’m doing well dur­ing the week usu­al­ly but then some week­ends I go over­board. I had already talked to my gf on sup­port­ing me in mak­ing changes to bat­tle this yes­ter­day. Loe and behold today I mess up. 
  • What’s one thing I need to do less often?
    • Deny­ing what I know is going to help me get to the next level. 

Feed­back?

Any ques­tions or feed­back you might have please feel free to leave a com­ment or con­tact me directly. 

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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