19062019 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
- Skip certain meals.
- No dinner today.
- Skip certain meals.
- How do you feel?
- I feel good even though I slept 7 hours.
- How would you rate it (1–5)?
- 4
Market Prep
Intraday Fundamentals
- API report
- Latest Release Jun 18, 2019
- Actual ‑0.812M
- Previous 4.850M
- EIA report
- Today
- Forecast ‑1.077M
Intraday Technical Analysis
- HTF
- Define context
- Where were the overnight highs and lows and PVA?
- High 54.501
- PVAH 53.908
- PPOC 52.112
- PVAL 51.700
- Low 51.660
- Where is the LIS?
- Prev High area
- What didn’t happen?
- We didn’t stay within the range
- 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?
- HTF UT in effect however might be a point for short-term reversal
- 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?
- Where were the overnight highs and lows and PVA?
- Define context
- TTF
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
- HTF U TC @ VWAP
- What has the Asian Session printed?
- Slightly higher high on HTF
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
Trade Idea
- Hypo 1 Long
- TTF200MACAS
- Entry around 54.10
- Targets 54.50, 54.80
- Hypo 2 Short
- TTF200MABD
- Entry around 53.90
- Targets 53.60
- Hypo 3 Rotational 54.00 — 54.60
- TTF R
My goals for the day (Daily Report Card)
- Define winning
- Size up and have patience in 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
- TTF R in effect, 1 test of TTF200MA, stil above HTF UKC but flat on VWAP possible BD, spread wider than usual at 42
- 16:35
- Drop to TTF R LKC possible BD
- 17:05
- Lot of TTF A/D going on below LKC possible absorption for HTF move up
- 17:35
- Move back into TTF KC stalking for a PB to TTFLKCCAS or a potential TTF200MACAR
- 18:05
- TTF A/D going on but still within the KC so bullish on the short term but bearish on medium term
- 18:35
- PA sluggish, spread still wider than usual at 42, no TTF200MABO still within KC
- 19:05
- TTF A/D move to probably HTF50MA for an attack by bulls
- 16:05
Daily Report Card
Trade Idea
- Hypo 1 Long
- TTF200MACAS
- Entry around 54.10
- Targets 54.50, 54.80
- Hypo 2 Short
- TTF200MABD
- Entry around 53.90
- Targets 53.60
- Hypo 3 Rotational 54.00 — 54.60
- TTF R
| Date: | 6/19/2019 | Weekly Goal | Execute A+ (TTF TC) / A setups (TTF NT) | |||
| Combined Score | 92 | |||||
| Process Report Card (10 each) | Performance Report Card (10 each) | |||||
| 10 | Session PECS | 100% | 10 | Real-time analysis | ||
| 8 | Hypos | 5/5 | 10 | Setups Identified (inc. TEST) | ||
| 10 | Trading the process | 5/5 | 10 | Setups taken | ||
| 10 | Daily review | 0/5 | 10 | Erroneous Entries | ||
| 10 | Progress tow. weekly goal | 2/5 | 4 | Erroneous Exits | ||
| 48 | Total | 44 | ||||
- Weekly Goal
- Size up and have patience in 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 here. Didn’t take any trades on my 1st account but still took some experimental trades on my 2nd.
- Size up and have patience in 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
| Trade Info | Psychology Journal | |||||||||
| P/L ticks | Trade | Entry Errors | Exit Errors | Type Trade | Sizing | Hit Target? | Reason to cover | Problem | Proposed solution | |
| -21.5 | 1 | 0 | 1 | (test) TTF200MACAS | 5 | NO | SO | stopped out | Moved Stop | I took notes into my PB for this particular setup in this pareticular market context so will do more reviews/replays |
| -8.7 | 2 | 0 | 1 | (test) TTF200MALKCBD | 5 | NO | SO | stopped out | Stop too tight | For this particular setup I should have used a different rule for my exit rules — as I did with my next few trades where I did obey those particular rules — still learning and took notes in my PB |
| 8.9 | 3 | 0 | 0 | (test) TTF A/D | 5/10 | YES | - | Hit 2.0 SD | - | - |
| 5.6 | 3 | 0 | 0 | (test) TTF A/D | 5/10 | YES | - | Hit 2.0 SD | - | - |
| 5.5 | 4 | 0 | 0 | (test) TTF A/D | 10 | YES | - | Hit 2.0 SD | - | - |
| -1.5 | 5 | 0 | 0 | (test) TTFLKCCAS | 5 | NO | Scratched | scratched when i thought there was a momentum build-up in opposite direction but this is the nature of the beast when A/D is going on because PA stayed within the technical levels of this setup. Took note of this in my PB | - | - |
- I’ve learned a lot from my experimental trades so I’m happy about that. I decided to weigh my experimental trades vs my A/A+ setup trades (which are on different accounts anyway) differently
- How accurate was my assessment of market context?
- Hypo 2 — 80 %
- Even though we did have the BD we didn’t hit my target and it was an A/D session instead.
- Real-time analysis was good. I noticed PA not behaving according to my rules and switched to taking experimental trades on setups I’ve seen before.
- Hypo 2 — 80 %
- How well did I manage my physical, emotional and cognitive states?
- I did well here.
- What’s one thing you learned today?
- I learned more about how PA behaves at certain levels, used in my experimental trades, behave. Working on building my playbook more.
- What’s one thing I need to do more often?
- Keep taking valid (experimental) trades. That’s the only way to build a track record worth analyzing
- What’s one thing I need to do less often?
- Trying to force my believe on the market. I didn’t really do much of that today but still. Just because a pattern points into a certain direction, keep in mind that these Points Of Interests I have defined for myself are just that. Points of interest. PA at these levels still have to confirm or deny the pattern.
- To do list
- Work more on categorizing my PB setups + review
- Change my DRC criteria to fit the elements important to my personal trading
Feedback?
Any questions or feedback you might have please feel free to leave a comment or contact me directly.