24072019 Wednesday — Trade Plan & Journal

24072019 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
• HHTF = High­er High Time Frame
• Hypo = HYPOthetical

Health review

• Week­ly goal
  • Per­form dai­ly health and per­for­mance tasks
    • Yes­ter­day tried going to bed as per health plan but could not man­age to fol­low to the tee. I went to bed 15 min­utes lat­er than I should. Will focus on this.
• 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 last night after I went to bed a lit­tle late I woke up an hour and a half lat­er and had trou­ble falling asleep again so took a sleep­ing aid. 
• How would you rate it (1–5)? 1/2 = don’t trade 3= quar­ter posi­tion 4= half posi­tion 5= full position
  • 4
    • 1st account: 25 contracts
    • 2nd account (test­ing account): 5 contracts

Mar­ket Prep

Intra­day Tech­ni­cal Analysis

• HHTF
  • Moved back into KC after we had a D TT around 200MA area — KC slop­ing down though so might be more down­side on the longer term
• HTF
  • Lev­els
    • Prev. High 57.425
    • PVAH 56.423
    • PPOC 56.195
    • PVAL 55.891
    • Prev. Low 55.723
  • We had a HTF R U NT that went into HTF R Over­bought and retreat­ed to UKC/VWAP area and this morn­ing trad­ed slight­ly below VWAP — pos­si­ble more down­side on medi­um term — 200MA slop­ing down
• TTF
  • What has the Asian Ses­sion printed?
    • After over­bought posi­tion towards last night’s ses­sion we trad­ed in TTF R slop­ing down­wards above 200MA which is slop­ing upwards, pos­si­ble move back to test 200MA
  • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
    • HTF UKC BD

Trade Idea

• Hypo 1 Short
  • HTF UKC BD
  • Entry around 56.85
  • Tar­gets 56.70, 56.55
• Hypo 2 Short
  • TTF R Overbought
  • Entry around 57.10
  • Tar­gets 56.90, 56.75, 56.55
• Hypo 3 Long
  • HTF U TC @ 50MA
  • Entry around 56.75
  • Tar­gets 57.20, 57.40
• Hypo 4 Rotational
  • 56.85 — 57.25

My goals for the day (Dai­ly Report Card)

• Define win­ning
  • Only trade A/A+ trade ideas
  • For­ward test exper­i­men­tal trades

Read­ing the Tape

• What is printing? 
  • 16:05
    • HHTF
      • HHTF D TT @ LKC
    • HTF
      • HTF U TT @ UKCCAS
    • TTF
      • TTF R UKCCAS
    • Oppor­tu­ni­ty (if any)
      • TTF R UKCCAS
  • 16:35
    • Same as above
  • 17:05
    • HHTF
      • Same 
    • HTF
      • HTF U TT @ UKCCAS
      • After we made a HTF LH
    • TTF
      • 2 times TTF R Over­bought posi­tion, looks like HTF might BO bull­ish but no push behind the move yet
    • Oppor­tu­ni­ty (if any)
      • Unclear
  • 17:35
    • HHTF
      • same
    • HTF
      • Squeeze going on
    • TTF
      • AD above 200MA pos­si­ble short/medium term long move
    • Oppor­tu­ni­ty (if any)
  • 18:05
    • HHTF
      • same
    • HTF
      • same
    • TTF
      • TTF R LH
    • Oppor­tu­ni­ty (if any)
      • Poten­tial 200MABD
  • 18:35
    • HHTF
      • HHTF PB to 200MA
    • HTF
      • HTF R UKCCAS squeeze
    • TTF
      • TTF R 50MACAR
    • Oppor­tu­ni­ty (if any)
      • TTF200MABD
  • 19:05
    • HHTF
      • Same 
    • HTF
      • Same 
    • TTF
      • Took posi­tion on TTF200MABD and closed off @ TTF LKC
      • Rever­sal quick­ly hap­pened after and this turned into a TTF R Over­sold posi­tion instead of a valid TTF20MMABD
      • How­ev­er there is still a pos­si­bil­i­ty of a PB to TTF200MACAR
    • Oppor­tu­ni­ty (if any)
      • TTF200MACAR
      • TTF R Over­sold @ LKCCAS
  • 19:35
    • HHTF
      • HHTF PB to 200MACAS
    • HTF
      • HTF50MACAS to poten­tial­ly UKCCAR
    • TTF
      • TTF200MABDF reversed into a move up over 200MA now look­ing for poten­tial support
    • Oppor­tu­ni­ty (if any)
      • Unclear at the moment — 25 min­utes until NY open
  • 20:05
    • HHTF
    • HTF
    • TTF
    • Oppor­tu­ni­ty (if any)

Dai­ly Report Card

Trade Idea

• Hypo 1 Short
  • HTF UKC BD
  • Entry around 56.85
  • Tar­gets 56.70, 56.55
• Hypo 2 Short
  • TTF R Overbought
  • Entry around 57.10
  • Tar­gets 56.90, 56.75, 56.55
• Hypo 3 Long
  • HTF U TC @ 50MA
  • Entry around 56.75
  • Tar­gets 57.20, 57.40
• Hypo 4 Rotational
  • 56.85 — 57.25

	Dai­ly Report Card
Date:	7/24/2019
Week­ly Goal	Exe­cute A+ / A setups
Com­bined Score	99
Process Report Card (10 each)
	10	Ses­sion PECS
	10	Hypos
	10	Mar­ket Prep
	10	Dai­ly review
	9	Progress tow. week­ly goal
	49	Total
Per­for­mance Report Card (10 each)
100%	10	Real-time analy­sis
1/1	10	Setups Iden­ti­fied (inc. TEST)
1/1	10	Setups tak­en
0/1	10	Erro­neous Entries
0/1	10	Erro­neous Exits
	50	total

• Week­ly Goal
  • Only trade A/A+ trade ideas
  • For­ward test exper­i­men­tal trades
• Review

Trade	Entry Errors	Exit Errors	Type Trade	Siz­ing	Rea­son to cover	Prob­lem	Pro­posed solution
1	0	0	TTF R UKCCAR	10	Scratched	Took risk off	-	-
Took risk off	-	-
Closed out position	-	-
2	0	0	5	Scratched	2nd attempt	-	-

• How accu­rate was my assess­ment of mar­ket context?
  • Hypo 2 — 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. Slept enough.
  • E: Did well here.
  • CS: Did well here. No dip.
• What’s one thing you learned today?
  • I learned more about mar­ket con­text patterns.
• Positive(s)
  • Did well to let HTF nar­ra­tive lead
  • Stayed calm and let trade have room to devel­op but scratched when it didn’t

Feed­back?

Any ques­tions or feed­back you might have please feel free to leave a com­ment or con­tact me directly.