Latest Posts
Bear Market Trader | Trade Journal on day trading the WTI crude oil market
oil, wti, crude oil, crude, day trading, daytrading, trade journal, journaling, trade plan, commodities, playbook, one good trade, becoming a CPT, consistently profitable trader,
1954
post-template-default,single,single-post,postid-1954,single-format-standard,locale-en-us,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.11.2.1,vc_responsive
 

24052019 Friday — Lot of accumulation / distribution going on

24052019 Friday — Lot of accumulation / distribution going on

24052019 Fri­day — Lot of accu­mu­la­tion / dis­tri­b­u­tion going on

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
    • Eat less carbs
  • How do you feel?
    • I feel good after I just took a nap but feel­ing more tired these last few days
  • How would you rate it (1–5)?
    • 4

Mar­ket Prep

Intra­day Fundamentals

  • API report
    • Lat­est Release Tues­day, May 21, 2019
    • Actu­al 2.400M
    • Fore­cast ‑0.600M
    • Pre­vi­ous 8.600M
  • EIA report
    • Lat­est Release Wednes­day, May 22, 2019
    • Actu­al 4.740M
    • Fore­cast ‑0.599M
    • Pre­vi­ous 5.431M

Intra­day Tech­ni­cal Analysis

  • HTF
    • Define con­text
      • Where were the overnight highs and lows and PVA?
        • High 61.397
        • PVAH 61.397
        • PPOC 61.024
        • PVAL 58.178
        • Low 57.324
      • Where is the LIS?
        • PVAL area
      • What didn’t happen?
        • We failed to hold the 60.50 area
      • 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?
          • Imbal­ance on mul­ti­ple time frames
  • TTF
    • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
      • PVALBD or PVALCAS
    • What has the Asian Ses­sion printed?
      • Short-term UT with poten­tial hyper­bol­ic move with con­se­quent fail­ure to make new highs indi­cat­ing pos­si­ble loss in momen­tum and pos­si­ble sign of rever­sal on the short to medi­um term. Let’s wait and see how this unfolds

Trade Idea

  • Hypo 1 Short
    • HTF50MACAR
    • Entry around 58.70
    • Tar­gets 58.20, 57.70
  • Hypo 2 Long
    • PVALCAS / HTFLKCCAS
    • Entry around 58.25
    • Tar­gets 58.70, 59.30
  • Hypo 3 Rota­tion­al 58.30 — 58.70

My goals for the day (Dai­ly Report Card)

  • Define win­ning
    • Only take A+ (TTF TC) and A (TTF NT) setups to build a track record to ana­lyze later

Read­ing the Tape

  • What is printing? 
    • 15:05
      • TTF A/D going below 50MA pos­si­ble move to 200MA
    • 15:35
      • Pos­si­ble TTF R day
    • 16:05
      • TTF R 50MABO
    • 16:35
      • LTF UT still in effect how­ev­er still below TTFUKC, A/D still going on, mar­ket has not made its move yet
    • 17:05
      • TTF A/D con­tin­u­ing, doji can­dle at TTF VWAP 50MA area, pos­si­ble signs look­ing bull­ish even though HTF looks bear­ish still
    • 17:35
      • Still A/D going on, no move­ment by mar­ket yet
    • 18:05
      • A/D
    • 18:35
      • A/D
    • 19:05
      • A/D

Trade Man­age­ment

Explain what trade you put on (include price, SL, TP) and what your thoughts are dur­ing the trade

  • T1
    • Why? What do I see?
      • HTF
        • HTF D TC — LKC VWAP area
      • TTF
        • TTF NT — Looked like a poten­tial dou­ble top and then ducked under VWAP and I went short
        • Entry 10 @ 58.537
      • LTF
        • LTF200MACAR duck under 50MA
    • SL
      • 58.585
    • TP
      • 58.445
    • Trade Man­age­ment
      • Scratched at 58.529 when price didn’t drop further 

Dai­ly Report Card

Trade Idea

  • Hypo 1 Short
    • HTF50MACAR
    • Entry around 58.70
    • Tar­gets 58.20, 57.70
  • Hypo 2 Long
    • PVALCAS / HTFLKCCAS
    • Entry around 58.25
    • Tar­gets 58.70, 59.30
  • Hypo 3 Rota­tion­al 58.30 — 58.70









Date:5/24/2019Week­ly GoalExe­cute A+ (TTF TC) / A setups (TTF NT)















Com­bined Score96











Process Report Card (10 each)
Per­for­mance Report Card (10 each)

9Ses­sion PECS100%10Real-time analy­sis

7Hypos1/110Setups Iden­ti­fied

10Trad­ing the process1/110Setups tak­en

10Dai­ly review010Erro­neous Entries

10Progress toward Week­ly goal010Erro­neous Exits

46Total
50








  • Week­ly Goal
    • Only take A+ (TTF TC) and A (TTF NT) setups to build a track record to ana­lyze later
  • Review
    • Only took one trade just before open because my set­up came up. Quick­ly scratched. The rest of the ses­sion has been a lot of A/D and no oppor­tu­ni­ties for me today. 

Entry ErrorsExit ErrorsType TradeMis­takes (if any)Siz­ingHit Tar­get?Rea­son to coverProb­lemPro­posed solution
00TTF NT-10NOscratched because price reversed at LKC--
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 3 — 70% I’m new to the whole rota­tion­al game so I’m not sure if this is actu­al­ly cor­rect. I will learn more about it. 
    • Real-time analy­sis was great. 
  • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
    • Bet­ter than yes­ter­day. Did well here. 
  • What’s one thing you learned today?
    • When there’s no set­up, there’s no trade!
  • What’s one thing I need to do more often?
    • Be patient and wait for setups.
  • What’s one thing I need to do less often?
    • Try and see pat­terns in every­thing. Some­times the mar­ket just doesn’t wan­na offer you any­thing and that’s OK.

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.

No Comments

Post A Comment