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2119
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22082019 Thursday — Trade Plan & Journal

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22082019 Thursday — Trade Plan & Journal

22082019 Thurs­day — 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, noo­dles, bread, etc. in the evenings
  • 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. 
  • 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 200MA BO F crossed down VWAP but still above 50
  • HTF
    • Lev­els
      • Prev. High 57.052
      • PVAH 56.679
      • PPOC 56.253
      • PVAL 55.887
      • Prev. Low 55.492
    • What is the mar­ket nar­ra­tive and bias?
      • HTF test­ing 200 with pos­si­ble BD or CAS
  • TTF
    • Does the Asian ses­sion show clues that align with mar­ket narrative?
      • TTD D TT VWAP so bull­ish on the short term will need more con­fir­ma­tion on medi­um to long term

Trade Idea

  • Hypo 1 Short
    • HTF D TC VWAP
    • Entry around 55.55
    • Tar­gets 55.40, 55.20, 55.05
  • Hypo 2 Long
    • HTF LKCCAS
    • Entry around 55.75
    • Tar­gets 55.90, 56.10, 56.30
  • Hypo 3 Long
    • HTF Ex. D TT
    • Entry around 55.25
    • Tar­gets 55.40, 55.60

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)
      • Fol­low min­i­mum R/R rule
    • For­ward test setups on 2nd account that are aligned with trade idea (2 points)

Read­ing the Tape

  • What is printing? 
    • 16:35
      • HTF
        • What is the mar­ket narrative?
          • HTF R Over­sold @ 200 into 50 test
      • TTF
        • TTF D TC 50 to TT to 200MABO
      • Bias
        • Long unless TTF R S‑Line gets bro­ken then we could see a HTF50MACAR
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
    • 17:05
      • HTF
        • What is the mar­ket narrative?
          • Pos­si­ble 50MABO set­ting up
      • TTF
        • PA still above 200, UKC and VWAP look­ing to poten­tial­ly fake a drop and go higher
      • Bias
        • Long until we break TTF VWAP
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
    • 17:35
      • HTF
        • What is the mar­ket narrative?
          • 50MACAR to VWAP but per­haps a CAS here as well
      • TTF
        • TTF R Over­bought AD just above 200
      • Bias
        • Uncer­tain
          • Long above 55.95
          • Short under 55.75
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Wait for con­fir­ma­tion first
    • 18:05
      • HTF
        • What is the mar­ket narrative?
          • Test­ing 50
      • TTF
        • Move from 200 pos­si­bly exhausted
      • Bias
        • Long 
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • HTF50MABO
    • 18:35
      • HTF
        • What is the mar­ket narrative?
          • 50MA area, pos­si­ble BO or CAR
      • TTF
        • TTF R S‑Line slop­ing up
      • Bias
        • Unclear
      • 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

  • Hypo 1 Short
    • HTF D TC VWAP
    • Entry around 55.55
    • Tar­gets 55.40, 55.20, 55.05
  • Hypo 2 Long
    • HTF LKCCAS
    • Entry around 55.75
    • Tar­gets 55.90, 56.10, 56.30
  • Hypo 3 Long
    • HTF Ex. D TT
    • Entry around 55.25
    • Tar­gets 55.40, 55.60





Dai­ly Report Card



Date:7/23/2019



Week­ly GoalExe­cute A+ / A setups



Com­bined Score88



Process Report Card (10 each)

7Ses­sion PECS

8Hypos

10Mar­ket Prep

10Dai­ly review

8Progress tow. week­ly goal

43Total






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

45total



  • Week­ly Goal
    • Only A/A+trade ideas based on good nar­ra­tive on 1st account (4 points)
      • I did well here
    • Don’t wor­ry about P&L, let the trade work out based on mar­ket nar­ra­tive and have cor­rect sizing(4 points)
      • Fol­low min­i­mum R/R rule
        • I failed to do so and then I got more focused on scalping
          • Now I can feel bad about not fol­low­ing my min­i­mum tick rule or just accept that I am bet­ter in short term trad­ing. Haven’t decid­ed yet since I do hate leav­ing mon­ey on the table. I want to see If I can move from all in all out to all in and scale out but not sure if I’m com­fort­able doing that. I’ll think about this some more and as always replay the screen recording. 
    • For­ward test setups on 2nd account that are aligned with trade idea (2 points)
      • I did well here
  • Review
Trade IdeaPos.Entry ErrorsExit ErrorsType TradeSizeRea­son to cover
1100TTF D TC 5010TP
2200Quick scalp10Quick scalp-
2301HTF VWAP CAR10ScratchedTook too long to make a move
240110Scratched
3510HTF 50MABO10SOStopped out
3600HTF 50MABO10Quick scalp
4700HTF 50MACAS10Quick scalp
5800HTF 50MA Area10Quick scalpStopped out
5900HTF 50MACAS10Quick scalp
51000HTF 50MACAS50Quick scalp
61100HTF 200MACAS10Quick scalpStopped out
71200HTF 50MABD50Quick scalp
81300HTF 200MABD attempt50Quick scalp
81400HTF 200MABD50Quick scalp
91500HTF UKCBD50Quick scalp
91600HTF UKCBD+PB50Quick scalp
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 2 — 100%
      • Hypo 2 for EU ses­sion was right
      • Did not make a hypo for the US ses­sion but just went with what I saw
    • 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?
    • That I can scalp along the direc­tion of my mar­ket nar­ra­tive and the pat­terns I trade on TTF, based on HTF, are also valid on my LTF. I knew this before but nev­er real­ly focused on trad­ing the LTF. I focused on tak­ing trades accord­ing to my pat­tern on LTF that coin­cid­ed with the pat­tern on TTF in the direc­tion of my HTF which worked pret­ty good. The pat­tern on the LTF obvi­ous­ly gives short­er tar­gets so scalp­ing is manda­to­ry here. 
  • Positive(s)
    • Great exper­i­ment­ing with scalp­ing this might actu­al­ly be more my thing since I don’t like to hold for long any­way. I was try­ing to force myself to learn to hold longer but why not try and exper­i­ment with high­er win rate with low­er ticks won
    • After I got into the flow (and clear­er mar­ket nar­ra­tive on my side) I increased my posi­tion sizing
    • Trad­ed the US ses­sion as well for a few hours
  • Negative(s)
    • I scratched trade 3 and 4 to only see the mar­ket move big in my favor so trade 5 was a result of my try­ing to chase and make up for that which luck­i­ly did not work and I got pun­ished and thus stopped out. Good. On to the next one. 
    • Trade 11 was a trade I was not too sure about and I took it any­way. Luck­i­ly for me I decreased my siz­ing and I got stopped out. Usu­al­ly when I don’t have this voice in my head scream­ing to take a trade I get stopped out and it means I lack clar­i­ty 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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