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23082019 Friday — Trade Plan & Journal

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23082019 Friday — Trade Plan & Journal

23082019 Fri­day — 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 etc in the evening
  • 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 even though I only slept 7 hours
  • 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 R S‑Line BD how­ev­er big push back at 2.0 SD
  • HTF
    • Lev­els
      • Prev. High 56.384
      • PVAH 56.200
      • PPOC 55.909
      • PVAL 55.319
      • Prev. Low 54.792
    • What is the mar­ket nar­ra­tive and bias?
      • Side­ways slight­ly slop­ing up after the LKCCAS yes­ter­day to know 50MA area
        • Unclear if we’re gonna set­up for a BO or CAR
  • TTF
    • Does the Asian ses­sion show clues that align with mar­ket narrative?
      • TTF200MABO with PB but 200 slop­ing down with 50 just try­ing to cross over
        • Unclear on a con­tin­u­a­tion long here since we broke the UT that broke 200

Trade Idea (lack of clarity)

  • Hypo 2 Short
    • HTF50MACAR
    • Entry around 55.35
    • Tar­gets 55.20, 55.05, extend­ed 54.90
  • Hypo 2 Long
    • HTF50MABO
    • Entry around 55.50
    • Tar­gets 55.75
  • Hypo 3 Short
    • HTF200MACAR
    • Entry around 55.65
    • Tar­gets 55.50, 55.25, 55.05, ex. 54.90

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? 
    • 15:35
      • HTF
        • What is the mar­ket narrative?
          • Pos­si­ble HTF R S‑Line form­ing with either CAS or BD
      • TTF
        • After the TTF200BO we turned over and are look­ing to per­haps move down from 200 again
      • Bias
        • Unclear ATM
          • I’ll be look­ing for signs of a HTF S‑Line BD or CAS
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear ATM
    • 16:35
      • HTF
        • What is the mar­ket narrative?
          • HTF R S‑Line BD
      • TTF
        • HTFs at work it seems. PA very erratic
      • Bias
        • Unclear
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear
    • 17:05
      • HTF
        • What is the mar­ket narrative?
          • PA is below VWAP so am more short-biased than otherwise
      • TTF
        • TTF R AD going on but very messy. As men­tioned before prob­a­bly HFTs at work here
      • Bias
        • SLight­ly short but will need more con­fir­ma­tion before tak­ing anoth­er trade
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear
    • 17:35
      • HTF
        • What is the mar­ket narrative?
          • Move down towards LKC no clear sign of CAS 
      • TTF
        • Still the same
    • 19:05
      • HTF
        • What is the mar­ket narrative?
          • Stayed above 2.0 SD and moved over VWAP
      • TTF
        • TTF R R‑Line BO pos­si­ble 200 BO
      • Bias
        • Long
      • Oppor­tu­ni­ty (if any)
        • What set­up am I going to stalk?
          • Unclear ATM
    • 19:35
      • HTF
        • What is the mar­ket narrative?
          • Still the same

Dai­ly Report Card

Trade Idea (lack of clarity)

  • Hypo 1 Short
    • HTF50MACAR
    • Entry around 55.35
    • Tar­gets 55.20, 55.05, extend­ed 54.90
  • Hypo 2 Long
    • HTF50MABO
    • Entry around 55.50
    • Tar­gets 55.75
  • Hypo 3 Short
    • HTF200MACAR
    • Entry around 55.65
    • Tar­gets 55.50, 55.25, 55.05, ex. 54.90





Dai­ly Report Card



Date:8/23/2019



Week­ly GoalExe­cute A+ / A setups



Com­bined Score90



Process Report Card (10 each)

10Ses­sion PECS

10Hypos

10Mar­ket Prep

10Dai­ly review

10Progress tow. week­ly goal

50Total






Per­for­mance Report Card (10 each)
100%10Real-time analy­sis
1/110Setups Iden­ti­fied (inc. TEST)
1/110Setups tak­en
1/10Erro­neous Entries
0/110Erro­neous Exits

40total



  • Week­ly Goal
    • Only A/A+trade ideas based on good nar­ra­tive on 1st account (4 points)
      • Did well here besides the mistake.
    • Don’t wor­ry about P&L, let the trade work out based on mar­ket nar­ra­tive and have cor­rect sizing(4 points)
      • Did well here as well.
    • For­ward test setups on 2nd account that are aligned with trade idea (2 points)
      • Did well here
  • Review
Trade IdeaPos.Entry ErrorsExit ErrorsType TradeSizeRea­son to cover
1110ACCIDENT25errorSet­ting up macros with mouse click bind­ing and acci­den­tal­ly bought
2200HTF R S‑Line BD25TPHit 1st target
2300HTF R S‑Line BD5TPHit 1st target
3400Quick Scalp25TPQuick Scalp
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 1 — 100%
      • Very messy dur­ing EU, hypo played out dur­ing US
    • 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?
    • Patience and mar­ket nar­ra­tive is key. Plus get­ting bet­ter at tak­ing the scalps even though there were not many oppor­tu­ni­ties (based on my rules) today
  • Positive(s)
    • I came in today kin­da hop­ing to have many trades like yes­ter­day but I didn’t take that into the ses­sion. I let it go and went after MGI. 
  • Negative(s)
    • I could have had more scalps but since I am still kin­da new at this I was more con­ser­v­a­tive. Also, PA was very errat­ic so that put me off a bit. 

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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