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26062019 Wednesday — Trade Plan & Journal

26062019 Wednesday — Trade Plan & Journal

26062019 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
  • Hypo = HYPOthetical

Health review (for the past week)

  • Week­ly goal
    • Eat only 2 meals
    • Read 30 min before bed
  • How do you feel? Have you recent­ly had a break of dai­ly rou­tine (like a trip)?
    • I feel good but not as sharp as I could be I guess.
  • How would you rate it (1–5)? 1 = don’t trade 2/3 =half posi­tion siz­ing 4/5 = full position
    • 4

Mar­ket Prep

Intra­day Fundamentals

  • API report
    • Lat­est Release    Jun 25, 2019
    • Actu­al            ‑7.550M
    • Pre­vi­ous        ‑0.812M
  • EIA report
    • Today
    • Fore­cast         ‑2.540M 

Intra­day Tech­ni­cal Analysis

  • HTF
    • Define con­text
      • Where were the overnight highs and lows and PVA?
        • High    58.803
        • PVAH    58.131
        • PPOC    57.793
        • PVAL    57.617
        • Low    57.187
      • Where is the LIS?
        • Prev. high area
      • What didn’t happen?
        • No HHTF UT BD although loss of momen­tum still bull­ish but keep an eye out for a HHTF PB to 200MACAS or poten­tial­ly 200MABD
      • 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?
          • Pos­si­ble exhaus­tion of imbal­ance on HTF/HHTF
  • TTF
    • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
      • TTFUKCCAR to TTF50MABD
    • What has the Asian Ses­sion printed?
      • AS has shown signs of loss in momen­tum above UKC so bear­ish on short term into pos­si­ble HTFUKCCAS

Trade Idea

  • Hypo 1 Long
    • TTFLKCCAS
    • Entry around 58.80
    • Tar­gets 59.05, 59.35, 60.30
  • Hypo 2 Short
    • TTFLKCBD
    • Entry around 58.70
    • Tar­gets 58.50, 58.30
  • Hypo 3 Long
    • TTFUKCBO
    • Entry around 59.05
    • Tar­gets 59.35, 60.30

My goals for the day (Dai­ly Report Card)

  • Define win­ning
    • Have patience in only tak­ing A+ (TTF TC) and A (TTF NT) setups to build a track record to ana­lyze lat­er but be open to exper­i­ment with TTF R setups on 2nd account. Earn the right to size up. 

Read­ing the Tape

  • What is printing? 
    • 16:05
      • Drop to TTFLKC pos­si­ble BD or CAS, LTF R in effect after a DT, at HTF UKC pos­si­ble BD
    • 16:35
      • I feel like forc­ing a trade which is nev­er good but I do well in con­tain­ing myself. I will not trade just because I feel like it. 
      • Spread is 44 and PA seems a bit slug­gish, TTF shows a pos­si­ble TTFUKCBD but has not pulled through on move yet. HTF, shows enough space for it to devel­op although we halt­ed after touch­ing 2.0SD and TTF is show­ing not too much space for it to run (200MA is in the way)
    • 17:05
      • We are slow­ly creep­ing down to TTF200MA as part of a HHTF mean rever­sion after a poten­tial exhaust­ed move, HTFUKCCAR con­firms this.
    • 17:35
      • TTF200MACAS for now, the mar­ket has not made a move yet
    • 18:05
      • Still no move yet, no clar­i­ty on a pos­si­ble move
    • 18:35
      • Still no move yet, no clar­i­ty on a pos­si­ble move
    • 19:05
      • Anoth­er TTF200MACAS

Dai­ly Report Card

Trade Idea

  • Hypo 1 Long
    • TTFLKCCAS
    • Entry around 58.80
    • Tar­gets 59.05, 59.35, 60.30
  • Hypo 2 Short
    • TTFLKCBD
    • Entry around 58.70
    • Tar­gets 58.50, 58.30
  • Hypo 3 Long
    • TTFUKCBO
    • Entry around 59.05
    • Tar­gets 59.35, 60.30









Date:6/26/2019Week­ly GoalExe­cute A+ (TTF TC) / A setups (TTF NT)















Com­bined Score90











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

10Ses­sion PECS100%10Real-time analy­sis

5Hypos2/210Setups Iden­ti­fied (inc. TEST)

10Trad­ing the process2/210Setups tak­en

10Dai­ly review1/25Erro­neous Entries

10Progress tow. week­ly goal0/210Erro­neous Exits

45Total
45








  • Week­ly Goal
    • Have patience in only tak­ing A+ (TTF TC) and A (TTF NT) setups to build a track record to ana­lyze lat­er but be open to exper­i­ment with TTF R setups on 2nd account. Earn the right to size up. 
      • Did well here.
  • Review
P/L ticksTradeEntry ErrorsExit ErrorsType TradeSiz­ingRea­son to coverProb­lemPro­posed solution
0.7100(Exper­i­men­tal) LTF D TT inside LKC1ScratchedLoss of momen­tum at TTF VWAP pos­si­bly sell­ers com­ing in--
-5.2210(Exper­i­men­tal) TTFLKCCAR1Scratchedsell­ers dry­ing up at TTFLKCGot in too soonWhen momen­tum is high wait for anoth­er con­fir­ma­tion before get­ting in
0.6300(Exper­i­men­tal) TTFLKCCAR1Scratchedsell­ers dry­ing up at TTFLKC--
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 2 — 50%
      • We didn’t have a BD but rather rotat­ed around this area
    • Real-time analy­sis
      • Did well here. 
  • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
    • P: Feel­ing bet­ter than yes­ter­day and the day before. Slept a lot + I have new health goals I am fol­low­ing to improve my sleep­ing rou­tine. Thanks Edward.
    • E: Did well here.
    • CS: Did well here.
  • What’s one thing you learned today?
    • Report release days don’t often give good opportunities.
  • What’s one thing I need to do more often?
    • Be the sci­en­tist and take notes for my PB. Defin­ing cir­cum­stances that you can’t trade is also very valu­able information. 
  • What’s one thing I need to do less often?
    • Think­ing I have to trade every­thing. I am up a lit­tle for the month and just because the month is almost over doesn’t mean I should go out look­ing for ‘oppor­tu­ni­ties’ the mar­ket giveth when­ev­er it wants, but more than not, taketh 🙂 be care­ful, be patient.

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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