17072019 Wednesday — Trade Plan & Journal

17 Jul 17072019 Wednesday — Trade Plan & Journal

17072019 Wednes­day — 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
• LTF = Low­er Time Frame
• TTF = Trad­ing Time Frame
• HTF = High­er Time Frame
• Hypo = HYPOthetical

Health review (for the past week)

• Week­ly goal
  • Fol­low health plan
  • Per­form dai­ly tasks
• 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 slept 7.5 horus last night. I feel OK but not optimal. 
• How would you rate it (1–5)? 1/2 = don’t trade 3= quar­ter posi­tion 4= half posi­tion 5= full position
  • 4

Mar­ket Prep

Intra­day Tech­ni­cal Analysis

• HHTF
  • Yesterday’s trade idea played out bet­ter than I thought and we had a HHTFUKCCAR into HHTF50MABD
• HTF
  • Prev. High 60.159
  • PVAH 60.159
  • PPOC 59.520
  • PVAL 58.170
  • Prev. Low 57.157
  • HTF DT how­ev­er after such a steep drop we have small PA mov­ing lat­er­al­ly above 1.0 SD indi­cat­ing a poten­tial shift in sen­ti­ment again
• TTF
  • What has the Asian Ses­sion printed?
    • Lat­er­al small PA move to HTF VWAP let’s see how the mar­ket reacts to this POI based on this we could enhance our bias to the up- or downside
  • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
    • TTFLKCBD @ HTF D TC (@VWAP)
    • HTF D TT @ VWAP

Trade Idea

• Hypo 1 Rotational
  • TTF R 57.50 — 57.90
• Hypo 2 Long
  • HTF D TT @ VWAP
  • Entry around 57.85
  • Tar­gets 58.10
• Hypo 3 Short
  • HTFLKCCAS
  • Entry around 58.05
  • Tar­gets 57.70, 57.40, extend­ed tar­get 56.50

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? 
  • HHTF UKCCAS, HTF D TT, TTF50MACAS into 200MABO, LTF200MACAS into 50MABO U NT

Dai­ly Report Card

Trade Idea

• Hypo 1 Rotational
  • TTF R 57.50 — 57.90
• Hypo 2 Long
  • HTF D TT @ VWAP
  • Entry around 57.85
  • Tar­gets 58.10
• Hypo 3 Short
  • HTFLKCCAS
  • Entry around 58.05
  • Tar­gets 57.70, 57.40, extend­ed tar­get 56.50

	Date:	7/17/2019	Week­ly Goal	Exe­cute A+ (TTF TC) / A setups (TTF NT)
	Com­bined Score	85
	Process Report Card (10 each)		Per­for­mance Report Card (10 each)
	8	Ses­sion PECS	100%	10	Real-time analy­sis
	9	Hypos	1/1	10	Setups Iden­ti­fied (inc. TEST)
	10	Mar­ket Prep	1/1	10	Setups tak­en
	10	Dai­ly review	1/1	0	Erro­neous Entries
	8	Progress tow. week­ly goal	0/1	10	Erro­neous Exits
	45	Total		40

• Week­ly Goal
  • Only trade A/A+ trade ideas
  • For­ward test exper­i­men­tal trades
• Review

Trade	Entry Errors	Exit Errors	Type Trade	Siz­ing	Rea­son to cover	Prob­lem	Pro­posed solution
1	0	0	(Exper­i­men­tal) TTF50CAS	1	Hit Tar­get	@ TTF200MA	-	-
2	1	0	(Exper­i­men­tal) TTF50CAS	2	Hit Tar­get	@TTF50MA	FOMO	Still learn­ing more about this par­tic­u­lar set­up / trade idea, have tak­en notes and will rewatch the video + write PB
3	0	0	(Exper­i­men­tal) TTF50CAS	2	Scratched	when PA did not move quick­ly in my favor I scratched it.	-	-

• How accu­rate was my assess­ment of mar­ket context?
  • Hypo 2 — 90%
    • Set tar­get to go to 58.10 but went 58.30, not too big of a deal since I nailed the nar­ra­tive but still
  • Real-time analy­sis — 100%
    • Did well here.
• How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
  • P: Did well here. Even though I slept slight­ly less than usu­al and felt grog­gy in the morn­ing I had decid­ed to only trade half size. 
  • E: Did well here. 
  • CS: Did well here. Stayed calm and collected.
• What’s one thing you learned today?
  • To trust my trade ideas. 
• Positive(s)
  • Did well to rec­og­nize and trade the narrative
  • Did real­ly well on my first trade but feel as if I should have stayed in the trade longer but I took my first tar­get and looked for anoth­er entry. 
• Negative(s)
  • 1 trade I took out of FOMO and did not enter at a good R/R lev­el. I know that if I would have I would not have spent as much men­tal cap­i­tal to wait for the mar­ket to go in my favor. The best entries are those that bring you to breakeven quick­ly and then some and you can sit calm­ly to wait for the move to play out. 
• Com­ments
  • Changed Progress towards week­ly goal to incor­po­rate half for health task half for dai­ly tasks

Feed­back?

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