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21082019 Wednesday — Trade Plan & Journal - Bear Market Trader
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21082019 Wednesday — Trade Plan & Journal

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21082019 Wednesday — Trade Plan & Journal

21082019 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
  • 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
    • No rice or noo­dles at night
  • 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 feel good. Slept enough. 
  • 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?
      • HHTF UKC area after we bounced off VWAP above 50
  • HTF
    • Lev­els
      • Prev. High 56.490
      • PVAH 56.273
      • PPOC 56.014
      • PVAL 55.787
      • Prev. Low 55.072
    • What is the mar­ket nar­ra­tive and bias?
      • We just had a big rejec­tion of 55 lev­el again and might have loaded up for a BO, that we are above 1.0 SD shows that there is some strength behind the direction
  • TTF
    • Does the Asian ses­sion show clues that align with mar­ket narrative?
      • TTF UT above 50 how­ev­er signs of lack of liq­uid­i­ty if mem­o­ry serves me cor­rect this could be the sit­u­a­tion around a big move

Trade Idea

  • Hypo 1 Long
    • HTF 50MACAS
    • Entry around 56.20
    • Tar­gets 56.50, 56.80, 57.50
  • Hypo 2 Short
    • PB to HTF50MACAS
    • Entry around 56.15
    • Tar­gets 56, 55.90
  • Hypo 3 Short
    • HTF UKC CAR
    • Entry around 56.40
    • Tar­gets 56.10, 55.80 

My goals for the day (Dai­ly Report Card)

  • Define win­ning
    • Only A/A+trade ideas based on good nar­ra­tive on 1st account (4 points)
    • Don’t wor­ry about P&L, let the trade work out based on mar­ket nar­ra­tive and have cor­rect sizing(4 points)
    • For­ward test setups on 2nd account that are aligned with trade idea (2 points)

Read­ing the Tape

  • What is printing?
    • 16:05
      • HTF
        • What is the mar­ket narrative?
          • Not too impres­sive bounce of VWAP so pos­si­ble BD from this level
      • TTF
        • TTF R in effect look­ing for signs to con­firm a BD which would be test­ing TTF200
      • Bias
        • Short
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Drop to HTF50MACAS
    • 17:05
      • HTF
        • What is the mar­ket narrative?
          • PA mov­ing between 2.0 SD above 50
      • TTF
        • TTF R with swings that get big­ger with price very slow at times and then very fast prob­a­bly HFTs caus­ing con­fu­sion at this HHTF200 level
      • Bias
        • Unclear
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear ATM
    • 18:05
      • HTF
        • What is the mar­ket narrative?
          • Move from 50 to UKC as part of HHTF200MABO attempt
      • TTF
        • TTF UKC BO with PA above 1.0 SD
      • Bias
        • Long
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Long
            • TTF U TC
          • Short
            • TTF R Overbought
    • 18:35
      • HTF
        • What is the mar­ket narrative?
          • Looks like a UKC BO but it could be a fake
      • TTF
        • TTF broke 1.0 SD but might find sup­port at VWAP for U TC
      • Bias
        • Long until we break TTF VWAP
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • U TC VWAP
    • 19:05
      • HTF
        • What is the mar­ket narrative?
          • PA above 1.0 SD still look­ing bullish
      • TTF
        • TTF bounced off VWAP
      • Bias
        • Long until we break TTF VWAP
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?

Dai­ly Report Card

Trade Idea

  • Hypo 1 Long
    • HTF 50MACAS
    • Entry around 56.20
    • Tar­gets 56.50, 56.80, 57.50
  • Hypo 2 Short
    • PB to HTF50MACAS
    • Entry around 56.15
    • Tar­gets 56, 55.90
  • Hypo 3 Short
    • HTF UKC CAR
    • Entry around 56.40
    • Tar­gets 56.10, 55.80 




Dai­ly Report Card



Date:8/21/2019



Week­ly GoalExe­cute A+ / A setups



Com­bined Score94



Process Report Card (10 each)

10Ses­sion PECS

10Hypos

10Mar­ket Prep

10Dai­ly review

7Progress tow. week­ly goal

47Total






Per­for­mance Report Card (10 each)
100%10Real-time analy­sis
4/410Setups Iden­ti­fied (inc. TEST)
4/410Setups tak­en
0/410Erro­neous Entries
1/47Erro­neous Exits

47total



  • Week­ly Goal
    • Only A/A+trade ideas based on good nar­ra­tive on 1st account (4 points)
      • Did well here
    • Don’t wor­ry about P&L, let the trade work out based on mar­ket nar­ra­tive and have cor­rect sizing(4 points)
      • I did OK here. There was one trade I could have I scratched because of some­thing that was hap­pen­ing on my TTF and I did not let mar­ket nar­ra­tive lead. Logged this. 
    • For­ward test setups on 2nd account that are aligned with trade idea (2 points)
      • Today I saw the oppor­tu­ni­ty to take some scalps and I did. This hap­pens very rarely and I am hap­py I took the opportunity
  • Review
Trade IdeaPos.Entry ErrorsExit ErrorsType TradeSizeRea­son to cover
1101HTF50MA CAS10ScratchedDid­n’t move beyond VWAP
2200HTF VWAP CAR10SOStopped out
2300HTF Over­bought10SOStopped out
3400HTF UKC BO attempt10ScalpQuick scalp
3500HTF UKC BO attempt10ScratchedScratched
3600HTF UKC BO attempt10ScalpQuick scalp
4700HTF Over­bought @ 2.0 SD10ScalpQuick scalp
48


10ScratchedScratched
49


10ScalpQuick scalp
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 1 — 100%
      • DId well here
    • Real-time analy­sis — 100%
      • Did well here
  • 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 can be flex­i­ble in my approach by look­ing at the pace and struc­ture of the mar­ket I can time few quick scalps how­ev­er I feel more com­fort­able when these are in the direc­tion of my mar­ket nar­ra­tive. When that became unclear I stopped. 
  • Positive(s)
    • DId well to take a chance on scalps. I’ve done this before and when mar­ket slows down and fol­lows my tech­ni­cal lev­els to a tee I have no prob­lems  tak­ing some quick scalps. 
    • Did well to not let the 2 stopped out trades get to me and focused on mar­ket narrative

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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