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13082019 Tuesday — Trade Plan & Journal

13082019 Tuesday — Trade Plan & Journal

13082019 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 less rice and noo­dles and more veggies
  • 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?
    • Had a good night’s sleep and feel good.
  • 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
    • 5= full posi­tion = 1st 50 2nd 10

Mar­ket Prep

Intra­day Tech­ni­cal Analysis

  • HHTF
    • What is the mar­ket narrative?
      • Crossed 50MA and might have a small PB before continuing
  • HTF
    • Lev­els
      • Prev. High 55.035
      • PVAH 54.746
      • PPOC 54.167
      • PVAL 53.934
      • Prev. Low 53.435
    • What is the mar­ket nar­ra­tive and bias?
      • There’s a squeeze just below the UKC with small PA set­ting up for a move how­ev­er the nar­ra­tive is unclear for me to sway towards a bias long or short
  • TTF
    • Does the Asian ses­sion show clues that align with mar­ket narrative?
      • TTF R not much going on

Trade Idea (lack of clarity)

  • Hypo 1 Long
    • HTF50MACAS
    • Entry around 54.55
    • Tar­gets 54.85, 55.10, 55.45
  • Hypo 2 Short
    • HTFUKCCAS
    • Entry around 54.55
    • Tar­gets 54.40, 54.05
  • Hypo 3 Rotational 
    • 54.45 — 54.95

My goals for the day (Dai­ly Report Card)

  • Define win­ning
    • Only trade trade ideas based on good nar­ra­tive on 1st account
    • Don’t wor­ry about P&L, let the trade work out based on mar­ket narrative
    • Exper­i­men­tal trades on 2 account

Read­ing the Tape

  • What is printing? 
    • 16:05
      • HTF
        • What is the mar­ket narrative?
          • Hypo 1 in play, missed the trade because I just sat down and was open­ing my software.
          • HTF50MACAS
      • TTF
        • TTF Ex. D TT @ LKCCAS, push back at UKC unable to BO
      • Bias
        • Unclear atm
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear atm
    • 16:35
      • HTF
        • What is the mar­ket narrative?
          • PA moved up from 50MACAS to 2.0 SD on the upside but is fail­ing to BO
            • This could be a set­up for a NT
      • TTF
        • TTF R above 50MA in effect, look­ing to poten­tial­ly BO to HTFUKCCAR
      • Bias
        • Long
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear atm
          • If HTFUKCCAR then short but we might have a U NT instead so be very care­ful to trade the HTFUKCCAR
    • 17:05
      • HTF
        • What is the mar­ket narrative?
          • Push back at HTFUKC, pos­si­ble load up?
      • TTF
        • TTF R Over­bought and reversed to UKC VWAP area
      • Bias
        • Unclear 
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear
    • 17:35
      • HTF
        • What is the mar­ket narrative?
          • We moved away from HTFUKC but not quite in a CAR fashion
      • TTF
        • After the exhaust­ed move up we final­ly BD from VWAP and am look­ing for a pos­si­ble PB to go short
      • Bias
        • Short 
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • TTF R Over­bought @VWAPBD
    • 18:05
      • HTF
        • What is the mar­ket narrative?
          • Move to HTFLKC pos­si­ble BD or CAS
      • TTF
        • Look­ing like a pos­si­ble rever­sal here TTF R LKCCAS
      • Bias
        • Long but not much clar­i­ty on pos­si­ble entry than the one I just missed
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear atm
    • 18:35
      • HTF
        • What is the mar­ket narrative?
          • Pos­si­ble AD going on or still set­up for U NT?
      • TTF
        • TTF R Over­bought to R
      • Bias
        • Rota­tion­al
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear atm
    • 19:05
      • HTF
        • What is the mar­ket narrative?
          • Still the same

Dai­ly Report Card

Trade Idea (lack of clarity)

  • Hypo 1 Long
    • HTF50MACAS
    • Entry around 54.55
    • Tar­gets 54.85, 55.10, 55.45
  • Hypo 2 Short
    • HTFUKCCAS
    • Entry around 54.55
    • Tar­gets 54.40, 54.05
  • Hypo 3 Rotational 
    • 54.45 — 54.95




Dai­ly Report Card



Date:8/13/2019



Week­ly GoalExe­cute A+ / A setups



Com­bined Score72



Process Report Card (10 each)

10Ses­sion PECS

10Hypos

10Mar­ket Prep

10Dai­ly review

5Progress tow. week­ly goal

45Total






Per­for­mance Report Card (10 each)
100%7Real-time analy­sis
2/210Setups Iden­ti­fied (inc. TEST)
1/25Setups tak­en
0/20Erro­neous Entries
1/25Erro­neous Exits

27total



  • Week­ly Goal
    • Only A/A+trade ideas based on good nar­ra­tive on 1st account (4 points)
      • There were none
    • Don’t wor­ry about P&L, let the trade work out based on mar­ket nar­ra­tive and have cor­rect sizing(4 points)
      • I did wor­ry about P&L when momen­tum seemed to die off and I took a quick prof­it at a lev­el that we reject­ed few peri­ods before. I will replay this 
    • For­ward test­ing setups on 2nd account that are aligned with trade idea (2 points)
      • The trade I took was an exper­i­men­tal trade so I am still learn­ing about this set­up. I took one trade based on Hypo 1 fol­low­ing mar­ket nar­ra­tive but lost con­vic­tion in it at a TTF tech lev­el and closed the posi­tion in a small prof­it to only see the mar­ket move 40 more ticks in my favor had I stayed in or tak­en anoth­er attempt at it. I logged the trade and will review. On to the next one.
  • Review
TradeEntry ErrorsExit ErrorsType TradeSizeRea­son to coverProb­lemPro­posed solution
---------
100HTF50MA CAS10ScalpHit TTF Tar­get and lost momentum--
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 1 — 100%
      • Did well here
    • Real-time analy­sis — 70%
      • Instead of going from long bias to unclear I could have seen signs that a down­side move was prob­a­ble — logged this
  • 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?
    • I need to step it up to become a real contender 
      • I’ve made addi­tion­al per­son­al rules and them to my template
  • Positive(s)
    • Trad­ing can be frus­trat­ing at times (most of the time:)) but I still love it
    • I kept a clear head and looked at a sys­tem­at­ic approach to take a trade and did not chase the market
    • Chang­ing for­mat of template
  • Negative(s)
    • Did not trade the 1st set­up well
      • Addressed this in log
    • Missed the 2nd setup
      • Logged, replay video 

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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