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08082019 Thursday — Trade Plan & Journal

08082019 Thursday — Trade Plan & Journal

08082019 Thurs­day — 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
    • 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?
      • I feel good although feel­ing a lit­tle lack of ener­gy somehow.
    • 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?
        • Drop to Dai­ly sup­port lev­el with imme­di­ate bounce back
    • HTF
      • Lev­els
        • Prev. High 53.733
        • PVAH 53.733
        • PPOC 53.461
        • PVAL 51.394
        • Prev. Low 50.468
      • What is the mar­ket nar­ra­tive and bias?
        • Yes­ter­day there was a D TC that got pushed back hard and now we’re trad­ing back in KC with small PA cross­ing the 50MA with­out any inter­ac­tion. Lack of clar­i­ty here on the narrative.
    • TTF
      • Does the Asian ses­sion show clues that align with mar­ket narrative?
        • PA is trad­ing high in KC slop­ing up with small PA, the small PA is kin­da mak­ing me think we will have a counter-move but will need to wait for confirmation

    Trade Idea (lack of clarity)

    • Hypo 1 Long
      • HTF R 50MABO+PB
      • Entry around 52.65
      • Tar­gets 53.05, 53.45
    • Hypo 2 Short
      • HTF UKCCAR
      • Entry around 52.90
      • Tar­gets 52.40, 51.80
    • Hypo 3 Rotational
      • 51.90–52.80

    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? 
      • 15:05
        • HTF
          • What is the mar­ket narrative?
            • WE had a D TT yes­ter­day that looks exhaust­ed and small PA slop­ing up not inter­act­ing with 50MA, some­thing is up. VWAP is pos­si­ble cross­ing over 50MA and PA is about to touch it
        • TTF
          • TTF rolling over into R
        • Bias
          • Unclear at the moment
        • Oppor­tu­ni­ty (if any)
          • What set­up am I going to stalk?
            • None ATM
      • 15:35
        • HTF
          • What is the mar­ket narrative?
            • Pos­si­ble HTF50MABD
        • TTF
          • TTF made a move below LKC, Over­sold ter­ri­to­ry, no signs of con­tin­u­a­tion just yet
        • Bias
          • Slight­ly short but need more confirmation
        • Oppor­tu­ni­ty (if any)
          • What set­up am I going to stalk?
            • None ATM
      • 16:35
        • HTF
          • What is the mar­ket narrative?
            • Still same
      • 17:35
        • HTF
          • What is the mar­ket narrative?
            • Same
        • TTF
          • Bounces below 50MA could be worth research­ing to see if there’s an edge
        • Bias
          • Short but not going to trade on it. Just sit­ting back and log­ging mar­ket structure
        • Oppor­tu­ni­ty (if any)
          • What set­up am I going to stalk?

    Dai­ly Report Card

    Trade Idea (lack of clarity)

    • Hypo 1 Long
      • HTF R 50MABO+PB
      • Entry around 52.65
      • Tar­gets 53.05, 53.45
    • Hypo 2 Short
      • HTF UKCCAR
      • Entry around 52.90
      • Tar­gets 52.40, 51.80
    • Hypo 3 Rotational
      • 51.90–52.80





    Dai­ly Report Card



    Date:8/8/2019



    Week­ly GoalExe­cute A+ / A setups



    Com­bined Score97



    Process Report Card (10 each)

    10Ses­sion PECS

    7Hypos

    10Mar­ket Prep

    10Dai­ly review

    10Progress tow. week­ly goal

    47Total






    Per­for­mance Report Card (10 each)
    100%10Real-time analy­sis
    0/010Setups Iden­ti­fied (inc. TEST)
    0/010Setups tak­en
    0/010Erro­neous Entries
    0/010Erro­neous Exits

    50total



    • Week­ly Goal
      • Only trade A/A+ trade ideas
      • For­ward test exper­i­men­tal trades
    • Review
    TradeEntry ErrorsExit ErrorsType TradeSizeRea­son to coverProb­lemPro­posed solution
    ---------
    1--Quick scalp5----
    • How accu­rate was my assess­ment of mar­ket context?
      • Hypo 2 — 70%
        • Did OK here
      • Real-time analy­sis — 100 %
        • Did well here
    • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
      • P: Did well here
      • E: Did well here
      • CS: Did well here
    • What’s one thing you learned today?
      • That I am com­ing to grips with the way my approach works.
    • Positive(s)
      • I only took one scalp because I saw an oppor­tu­ni­ty and I took it. I nor­mal­ly don’t do this. 
      • I stayed away from tak­ing a direc­tion­al posi­tion because I it was a new mar­ket nar­ra­tive that I was not too famil­iar with. 
      • I logged the details of the ses­sion into my PB

    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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