10062019 Monday — Trade Plan

10 Jun 10062019 Monday — Trade Plan

10062019 Mon­day — 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

Health review (for the past week)

• Week­ly goal
  • Eat less carbs. Have been over­do­ing it late­ly. Need to watch it. 
• How do you feel?
  • I feel good.
• How would you rate it (1–5)?
  • 4

Mar­ket Prep

Intra­day Fundamentals

• API report
  • Tues­day, June 11th
• EIA report
  • Wednes­day, June 12th

Intra­day Tech­ni­cal Analysis

• HTF
  • Define con­text
    • Where were the overnight highs and lows and PVA?
      • High 54.395
      • PVAH 53.848
      • PPOC 53.351
      • PVAL 53.082
      • Low 52.670
    • Where is the LIS?
      • PVAH
    • What didn’t happen?
      • No HTF200MABD
    • 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?
        • Imbal­ance up but with the gap up begin­ning of the day we returned back into the KC and might have a short-term reversal

• TTF
  • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
  • What has the Asian Ses­sion printed?
    • Gap up + gap fill

Trade Idea (less clarity)

• Hypo 1 Long
  • HTF U TC @ VWAP
  • Entry around 54.50
  • Tar­gets 54.80
• Hypo 2 Short
  • HTF U TT
  • Entry around 54.30
  • Tar­gets 54.10, 53.90
• Hypo 3 Rota­tion­al 54.15 — 54.80

My goals for the day (Dai­ly Report Card)

• Define win­ning
  • Dou­ble siz­ing but still 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

Read­ing the Tape

• What is printing?
  • 16:05
    • Move to TTF UKC / HTFUKCCAR, pos­si­ble TTF R in effect, spread is wider (44), PA faster than normal 
  • 16:35
    • TTF A/R going on just below TTF200MA
  • 17:05
    • Messy PA @ below TTF200MA, there was a fake out first but look­ing like it still might drop although TTF R still in effect
  • 17:35
    • Still no drop but we’re still below TTF200MA in TTF R mode near­ing HTF50MA could be buy­ers com­ing in
  • 18:05
    • Not much going on yet. A/D still full in process just above HTF50MA
  • 18:35
    • Still noth­ing going on
  • 19:05
    • Still noth­ing going on

Dai­ly Report Card

Trade Idea (less clarity)

• Hypo 1 Long
  • HTF U TC @ VWAP
  • Entry around 54.50
  • Tar­gets 54.80
• Hypo 2 Short
  • HTF U TT
  • Entry around 54.30
  • Tar­gets 54.10, 53.90
• Hypo 3 Rota­tion­al 54.15 — 54.80

	Date:	6/10/2019	Week­ly Goal	Exe­cute A+ (TTF TC) / A setups (TTF NT)
	Com­bined Score	97
	Process Report Card (10 each)		Per­for­mance Report Card (10 each)
	9	Ses­sion PECS	100%	10	Real-time analy­sis
	8	Hypos	0/0	10	Setups Iden­ti­fied (TEST)
	10	Trad­ing the process	0/0	10	Setups tak­en
	10	Dai­ly review	0	10	Erro­neous Entries
	10	Progress tow. week­ly goal	0	10	Erro­neous Exits
	47	Total		50

• Week­ly Goal
  • Size up and still only take 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
• Review
  • No trades tak­en today because there was no oppor­tu­ni­ty for me today. 

Entry Errors	Exit Errors	Type Trade	Siz­ing	Hit Tar­get?	Rea­son to cover	Prob­lem	Pro­posed solution	Action
-	-	-	-	-	-	-	-	-	-

• How accu­rate was my assess­ment of mar­ket context?
  • Hypo 3 — 80%
    • Get­ting a bit bet­ter with the rota­tion­al hypos but still not there. 
  • Did well with real-time analy­sis. Noticed PA act­ing dif­fer­ent­ly so thought to be extra cautious.
• How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
  • Although a bit tired and not sharp I did well to not make any mis­takes trad­ing live. 
• What’s one thing you learned today?
  • Mar­ket con­text is king.
• What’s one thing I need to do more often?
  • Be patient for the A/A+ setups. Any­thing less is not worth it. 
• What’s one thing I need to do less often?
  • Think I’m there. Be hum­ble and keep grinding. 

Feed­back?

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