
28 Jan 01282019 Trade Plan — sluggish session
01282019 Trade Plan
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
Personal Checklist
5 positive 1 negative | Thu | Fri | Sat | Sun | Mon |
- | 1/24 | 1/25 | 1/26 | 1/27 | 1/28 |
Beers night before | 2 | 2 | 6 | 10 | 6 |
Time bed yesterday | 23:42 | 0:28 | 1:55 | 6:27 | 4:20 |
woke up | 8:29 | 8:46 | 11:26 | 12:04 | 13:38 |
Hours sleep | 8:47 | 8:18 | 9:31 | 5:37 | 9:18 |
Awake | 1:11 | 1:17 | 1:20 | 0:47 | 1:31 |
REM | 1:20 | 1:47 | 1:39 | 0:50 | 1:20 |
Light | 5:06 | 3:59 | 4:45 | 3:08 | 4:31 |
Deep | 1:10 | 1:25 | 1:47 | 0:52 | 1:56 |
Sleep well? | 4 | 4 | 4 | 2 | 3 |
Melatonin | 0 | 0 | 0 | 0 | 0 |
Negative thoughts? | 1 | 1 | 1 | 2 | 3 |
Exercise yester(to)day | 4 | 3 | 3 | 3 | 3 |
Gratitude | 5 | 5 | 5 | 5 | 4 |
Joy | 5 | 5 | 5 | 5 | 4 |
Anger | 1 | 2 | 1 | 1 | 1 |
Fear | 1 | 1 | 1 | 1 | 3 |
Focus | 4 | 3 | 3 | 2 | 2 |
Coffees today | 1 TC morning (1 scp), 1 Espresso (half) | 1 espresso spread over 1 hours afternoon | 1 espresso spread over 1 hours afternoon | 1 espresso spread over 1 hours afternoon | 1TC in afternoon 1 scoop |
Intermittent fasting | no | no | no | no | no |
Water L | 3 | 3 | 3 | 3 | 3 |
Vitamins | yes | yes | no | yes | yes |
Cigarettes | 5 | 10 | 10 | 10 | 0 |
Health review (for the past week)
- How would you describe your overall health?
- Besides not getting enough sleep over the weekend it’s fairly good.
- How do you feel?
- A bit tired but OK.
- How would you rate it (1–5)?
- 2
The Big Picture (daily)
- What happened yesterday? Where are the technical levels?
- On friday we made swings high into the excess area around 53.90 and then swung down to 53 area
- Basically the whole session was spend in this range
- On friday we made swings high into the excess area around 53.90 and then swung down to 53 area
Intraday Fundamentals
- API report
- Coming out tomorrow January 29th
- EIA report
- Coming out Wednesday January 30th
Intraday Technical Analysis
- HTF
- Define context
- Where were the overnight highs and lows?
- High 53.982
- Low 52.969
- Where is the LIS?
- 53.20 area
- What didn’t happen?
- We didn’t make a swing high on the HTF
- Where do you think it should go?
- Possibly more downside
- Where’s the best R/R? Opportunities?
- BD from LIS would warrant a big shorting opportunity
- Where were the overnight highs and lows?
- Define context
- TTF
- Dialling in on opportunities
- Where are the areas of established “value” and “excess”?
- Excess area 53.80
- Value area 52.45
- 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?
- The market balance after a level change up and we are now looking to see if we can hold this level or not
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
- CAR the LIS could give us shorting opportunities
- BO from LIS could give long opportunities
- Where are the areas of established “value” and “excess”?
- Dialling in on opportunities
- LTF
- What has the Asian Session printed?
- The AS made a TTF LH and is now testing the prev low
- The LTF shows an arching pattern at prev low and could be a reversal although I am more short biased still but let’s wait and see
- What has the Asian Session printed?
Trade Idea
- Hypo 1 Short
- Move from prev low to LIS to CAR and drop from there
- Short around 53.20/.30
- PT Prev low
- Stretched PT 52.50
- Move from prev low to LIS to CAR and drop from there
- Hypo 2 Short
- BD from prev low
- Short around 52.90
- PT 52.50
- Stretched PT 52.30
- BD from prev low
- Hypo 3 Long
- BO from LIS
- Long around 53.35
- PT 53.70
- Stretched PT 53.90
- BO from LIS
My goals for the day (Daily Report Card)
- Define winning
- Perform well by EXECUTING playbook setups and be happy by doing what I love and understanding that I give myself over to the randomness of the market
Reading the Tape
- What is printing? Look for PA with higher TV and S/R levels.
- We continued testing the prev low after London opened
- T1 Win 10.2 ticks
- PA is very sluggish and uneventful sofar
- Done trading for today.
Trade Management
Explain what trade you put on (include price, SL, TP) and what your thoughts are during the trade
- T1
- Why? What do I see?
- TTF
- Where are we as opposed to the value, excess and LIS areas?
- We are below the prev low and looks like we CAR and are in a DT
- What technical level are we at?
- Below the prev low 25 ticks above value area
- Where are we as opposed to the value, excess and LIS areas?
- LTF
- Is LTF confirming?
- We hadn’t made an extended move into 2.0 SD so when PA moved back to VWAP/LKC I decided to go short
- What risk am I going to put on?
- 13% of Daily Risk
- Entry: 52.853
- Is LTF confirming?
- TTF
- SL
- Hard 53 soft 52.95
- TP
- 52.5
- Trade Management
- Covered at touching of the 2.0 SD since price didn’t pick up in momentum. It was kinda sluggish to reach that point so I got out
- Covered at 52.751
- Win 10.2 ticks
- Covered at touching of the 2.0 SD since price didn’t pick up in momentum. It was kinda sluggish to reach that point so I got out
- Why? What do I see?
Trade Review
- Did you let your trade play out or did you cover or stop out sooner? If so, why?
- I am getting better at this. I waited for PA to hit the 2.0 SD before I covered
- P/L for the day
Ticket | Open Time | Type | Size | Item | Price | S / L | T / P | Close Time | Price | |
2068357426 | 2019.01.28 10:59:20 | sell | 2 | wti | 52.853 | 53.003 | 52.496 | 2019.01.28 11:14:40 | 52.751 | 10.20 |
Daily Report Card
Date: | 1/28/2019 | Weekly Goal | Execute playbook trades |
Combined Score | 79 | ||
Process Report Card (10 each) | Performance Report Card (10 each) | ||
7 | Pre-market routines | 8 | Hypos |
7 | Session PECS | 9 | Real-time analysis |
8 | Trading the process | 10 | Trade selection |
7 | Daily review | 8 | Trade Execution & Mgmt. |
8 | Progress toward Weekly goal | 7 | Risk Adjusted Returns |
37 | Total | 42 | |
- Perform well by EXECUTING playbook setups and be happy by doing what I love and understanding that I give myself over to the randomness of the market
- How accurate was my assessment of market context?
- I would say it was fairly accurate. HYPO2 played out.
- How well did I manage my physical, emotional and cognitive states?
- Uneventful. I did well.
- What did I do well?
- I did well to recognize the lack of speed in the market and thus less follow-through on moves.
- What do I need to improve?
- I need to understand my trend-following setup more. I will work on this on the weekend.
- What’s one thing you learned today?
- I learned that I need to be patient and hit my targets when they arise. If not? I just wait.
- What’s one thing I need to do more often?
- Be more patient
- What’s one thing I need to do less often?
- Take too many trades. I only took one solid trade today and I’m happy with that.
- How accurate was my assessment of market context?
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.
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