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06082019 Tuesday — Trade Plan & Journal

06082019 Tuesday — Trade Plan & Journal

06082019 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
  • R = Range
  • LTF = Low­er Time Frame
  • TTF = Trad­ing Time Frame
  • HTF = High­er Time Frame
  • HHTF = High­er High Time Frame
  • Hypo = HYPOthetical
  • AD = Accu­mu­la­tion Distribution

Health review

  • Week­ly goal
    • Eat 2 meals only
  • 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?
    • Still feel sick but bet­ter after I slept a lot and drink­ing a lot of water.
  • How would you rate it (1–5)? 1/2 = don’t trade 3= quar­ter posi­tion 1st 12 2nd 2, 4= half posi­tion = 1st 25 2nd 5, 5= full posi­tion = 1st 50 2nd 10
    • 4= half posi­tion = 1st 25 2nd 5

Mar­ket Prep

Intra­day Tech­ni­cal Analysis

  • HHTF
    • What is the mar­ket narrative?
      • We had a D TT and then instead of going into R we made a HL look­ing for sol­id sup­port to now poten­tial­ly cre­ate more upside
  • HTF
    • Lev­els
      • Prev. High 55.503
      • PVAH 55.292
      • PPOC 55.005
      • PVAL 54.698
      • Prev. Low 54.203
    • What is the mar­ket nar­ra­tive and bias?
      • HTF went into Over­sold posi­tion and reject­ed once more (HHTF HL look­ing for sup­port) and have now trad­ed up over 50MA to poten­tial­ly PB and test 200MA, but we would have to look for more cues around UKC
  • TTF
    • Does the Asian ses­sion show clues that align with mar­ket narrative?
      • Bif TTF R Over­sold into NT into D TT with poten­tial­ly break­ing down from 50MA but we are above 200MA so is the 50MA so let’s see where we can find sup­port on the TTF to con­firm or negate the mar­ket nar­ra­tive bias

Trade Idea

  • Hypo 1 Long
    • HTF R 50MABO+PB
    • Entry around 54.90
    • Tar­gets 55.40, extend­ed 55.80, 56.05
  • Hypo 2 Rotational
    • 54.80 — 55.50
  • Hypo 3 Short
    • HTF R UKCCAR
    • Entry around 55.40
    • Tar­gets 55.10, 54.90, extend­ed 54.60

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? 
    • 15:35
      • HTF
        • What is the mar­ket narrative?
        • Hypo 1 could be in play, wait­ing for con­fir­ma­tion on the PB to 50MA
      • TTF
        • Poten­tial­ly TTF R Over­sold to test 200MA in line with Hypo 1
        • TTF UKCCAS or TTF200MACAS
      • Bias
        • Long if Hypo1 is confirmed
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • HTF R 50MABO+PB
          • Wait for con­fir­ma­tion on LTF in the form of an NT or TC
    • 16:05
      • HTF
        • What is the mar­ket narrative?
        • Pos­si­ble PB in process
      • TTF
        • Pos­si­ble TTF200MACAS in process. Stop below in case of failure
      • Bias
        • Long
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
        • HTF R50MABO+PB / TTF200MACAS
    • 16:35
      • HTF
        • What is the mar­ket narrative?
        • PB still in effect but work­ing on con­fir­ma­tion on TTF
      • TTF
        • We had 1 TTF200MACAS and now a poten­tial dou­ble touch in process
      • Bias
        • Long
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
        • TTF R 50MABO as con­fir­ma­tion of HTF R 50MABO+PB
    • 17:05
      • HTF
        • What is the mar­ket narrative?
        • PB to 50MACAS is still in effect
      • TTF
        • No sign of 50MABO just yet per­haps some more down­side first. Stay­ing clear at the moment because of some AD going on around LKC
      • Bias
        • Long but lack clar­i­ty on a setup
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
    • 17:35
      • HTF
        • What is the mar­ket narrative?
        • HTF R 50MABO+PB invalidated
      • TTF
        • Poten­tial TTF R Over­sold or TTF R 200MABD for short bias
      • Bias
        • TTF R Over­sold long TTF R 200MABD Short
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear at the moment. Per­haps a drop to HTF 1.0 SD to CAS or a move all the way down to HTFLKC if TTF R 200MABD is confirmed
    • 18:05
      • HTF
        • What is the mar­ket narrative?
          • Pos­si­ble HTF R 50MABD or this is used for AD to load up for a big move up, will need more con­fir­ma­tion first
      • TTF
        • TTF T above 200MA still in process no move has been made yet, AD still in process
      • Bias
        • Unclear
          • Long above 55 short below 54.65
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Still same as before, unclear
    • 18:35
      • HTF
        • No real development
    • 19:05
      • HTF
        • No real development
    • 19:35
      • HTF
        • No real development
    • 20:05
      • HTF
        • What is the mar­ket narrative?
          • We trad­ed below HTF R 50MA and are now in the process of mak­ing a PB to CAR
      • TTF
        • TTF R 200MACAS with move up to UKC
      • Bias
        • Unclear
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear 

Dai­ly Report Card

Trade Idea

  • Hypo 1 Long
    • HTF R 50MABO+PB
    • Entry around 54.90
    • Tar­gets 55.40, extend­ed 55.80, 56.05
  • Hypo 2 Rotational
    • 54.80 — 55.50
  • Hypo 3 Short
    • HTF R UKCCAR
    • Entry around 55.40
    • Tar­gets 55.10, 54.90, extend­ed 54.60





Dai­ly Report Card



Date:8/6/2019



Week­ly GoalExe­cute A+ / A setups



Com­bined Score98



Process Report Card (10 each)

10Ses­sion PECS

8Hypos

10Mar­ket Prep

10Dai­ly review

10Progress tow. week­ly goal

48Total






Per­for­mance Report Card (10 each)
100%10Real-time analy­sis
1/110Setups Iden­ti­fied (inc. TEST)
1/110Setups tak­en
0/110Erro­neous Entries
0/110Erro­neous Exits

50total



  • Week­ly Goal
    • Only trade A/A+ trade ideas
    • For­ward test exper­i­men­tal trades
  • Review
TradeEntry ErrorsExit ErrorsType TradeSiz­ingRea­son to coverProb­lemPro­posed solution
Ses­sion--------
100HTF R 50MA BO+PB (front)5SScratched when momen­tum died off--
100HTF R 50MA BO+PB5TPHit 1st Target--
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 1 — 80%
      • Even though I trad­ed based on this nar­ra­tive there was no fol­low-through on the move and PA died off plus entry was 10 ticks low­er which is not too bad. Trade Idea was good based on the infor­ma­tion pre-market. 
    • Real-time analy­sis — 100%
      • I feel I was in sync with the mar­ket, too bad there weren’t more opportunities
  • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
    • P: I am still feel­ing sick but bet­ter than yesterday
    • E: Did well here
    • CS: Did well here
  • What’s one thing you learned today?
    • Patience and humil­i­ty is inte­gral to improvement
  • Positive(s)
    • Did well to focus on under­stand­ing mar­ket nar­ra­tive and look for cues to see it unfold with­out forc­ing my bias
  • Negative(s)
    • Did well today. Enjoy it.

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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