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11062019 Tuesday — Trade Plan & Journal

11062019 Tuesday — Trade Plan & Journal

11062019 Tues­day — 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. Gonna get back on it this week.
  • How do you feel?
    • I feel good although still not too sharp.
  • How would you rate it (1–5)?
    • 4

Mar­ket Prep

Intra­day Fundamentals

  • API report
    • Com­ing out today.
  • EIA report
    • Com­ing out tomorrow. 

Intra­day Tech­ni­cal Analysis

  • HTF
    • Define con­text
      • Where were the overnight highs and lows and PVA?
        • High 54.933
        • PVAH 54.529
        • PPOC 54.369
        • PVAL 53.932
        • Low 53.141
      • Where is the LIS?
        • PVAL area
      • 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?
          • The HTF200MACAS could be in line with the HHTF break of DT
  • TTF
    • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
      • TTF50MABO
    • What has the Asian Ses­sion printed?
      • AS has kept mov­ing away from HTF200MA slow­ly cross­ing the VWAP

Trade Idea

  • Hypo 1 Short
    • TTF200MABOF / HTF50MADCAR
    • Entry around 53.90
    • Tar­gets 53.70, 53.40
  • Hypo 2 Long
    • TTF200MABO
    • Entry around 53.90
    • Tar­gets 54.40
  • Hypo 3 Short
    • TTF200MACAR
    • Entry around 53.60
    • Tar­gets 53.15

My goals for the day (Dai­ly Report Card)

  • Define win­ning
    • Size up and 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

Read­ing the Tape

  • What is printing? 
    • 16:05
      • We had a TTF200MABO ear­li­er and a con­se­quent LH and returned to TTF200MA let’s see if it’s a CAS or BD
    • 16:35
      • TTF200MACAS into LH below UKC, TTF R in effect
    • 17:05
      • TTF R below VWAP but still no move
    • 17:35
      • TTF R 200MACAS into pos­si­ble 50MABO
      • HTF R 50MABO attempt
    • 18:05
      • TTF200MABOF
    • 18:35
      • Still no move away from TTF50MA LTF200MA
      • LTF50MA200MACO
    • 19:05
      • 19:35
        • 20:05

        Trade Man­age­ment

        Explain what trade you put on (include price, SL, TP) and what your thoughts are dur­ing the trade

        • T1 (exper­i­men­tal)
          • Why? What do I see?
            • HTF
              • HTF R 50MABO attempt
            • TTF
              • TTF R U TC 50MAPB
              • Entry 10 around 53.83
            • LTF
              • LTF200MABO + PB
          • SL
            • 53.54
          • TP
            • 54.19
          • Trade Man­age­ment
            • Scratched at 53.86 +3 ticks just before it dropped 20 ticks

        Dai­ly Report Card

        Trade Idea

        • Hypo 1 Short
          • TTF200MABOF / HTF50MACAR
          • Entry around 53.90
          • Tar­gets 53.70, 53.40
        • Hypo 2 Long
          • TTF200MABO
          • Entry around 53.90
          • Tar­gets 54.40
        • Hypo 3 Short
          • TTF200MACAR
          • Entry around 53.60
          • Tar­gets 53.15









        Date:6/11/2019Week­ly GoalExe­cute A+ (TTF TC) / A setups (TTF NT)















        Com­bined Score83











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

        9Ses­sion PECS90%9Real-time analy­sis

        5Hypos1/25Setups Iden­ti­fied (TEST)

        10Trad­ing the process1/25Setups tak­en

        10Dai­ly review010Erro­neous Entries

        10Progress tow. week­ly goal010Erro­neous Exits

        44Total
        39








        • Week­ly Goal
          • Size up and 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
            • I did well exper­i­ment­ing although there were 2 setups I could have tak­en but only took 1 but didn’t have a chance to size up on my A/A+ setups since there wasn’t any.
        • Review
        P/L ticksEntry ErrorsExit ErrorsType TradeSiz­ingHit Tar­get?Rea­son to coverProb­lemPro­posed solution
        ---TTF R D TC (NOT TAKEN)----Did­n’t take it because 200MA was right under it so sec­ond-guessed myselfI’ll write it up in my PB but not gonna stress too much about not tak­ing this trade
        300TTF R U TC10NOScratchedNo momen­tum move in direc­tion so covered--
        • If I’m com­plete­ly hon­est I could have tak­en 2 exper­i­men­tal setups but missed one. Even though it would have not been a sol­id trade it was tech­ni­cal­ly my exper­i­men­tal setup.
        • The trade I did take didn’t move as fast as I had liked. There was no momen­tum left to push the move. As soon as I scratched price dropped 20 ticks. Keep lis­ten­ing to that voice. It knows when some­thing is up.
        • How accu­rate was my assess­ment of mar­ket context?
          • Hypo 2 — 50% 
            • We BO was before EU ses­sion start­ed and the ses­sion spend time in CAS mode
        • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
          • I was feel­ing tired and not as sharp but did well today to stay out of trouble.
        • What’s one thing you learned today?
          • That I under­stand how my mul­ti­ple time frame analy­sis works with­in the bounds of my per­spec­tive on tech­ni­cal analysis
        • What’s one thing I need to do more often?
          • Stay patient
        • What’s one thing I need to do less often?
          • Sec­ond-guess myself

        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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