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27062019 Thursday — Trade Plan & Journal

27062019 Thursday — Trade Plan & Journal

27062019 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
  • LTF = Low­er Time Frame
  • TTF = Trad­ing Time Frame
  • HTF = High­er Time Frame
  • Hypo = HYPOthetical

Health review (for the past week)

  • Week­ly goal
    • Fol­low health plan
  • How do you feel? Have you recent­ly had a break of dai­ly rou­tine (like a trip)?
    • I feel good. Have slept a lot even though I had some trou­ble falling asleep but feel good. 
  • How would you rate it (1–5)? 1 = don’t trade 2/3 =half posi­tion siz­ing 4/5 = full position
    • 5

Mar­ket Prep

Intra­day Fundamentals

  • API report
    • Lat­est Release    Jun 25, 2019
    • Actu­al            ‑7.550M
    • Pre­vi­ous        ‑0.812M
  • EIA report
    •  Lat­est Release     Jun 26, 2019
    • Actu­al            ‑12.788M
    • Fore­cast        ‑2.540M
    • Pre­vi­ous        ‑3.106M

Intra­day Tech­ni­cal Analysis

  • HTF
    • Define con­text
      • Where were the overnight highs and lows and PVA?
        • High    59.883
        • PVAH    59.285
        • PPOC    58.859
        • PVAL    58.683
        • Low    58.636
      • Where is the LIS?
        • Prev. Low area
      • What didn’t happen?
        • We didn’t break HHTF VWAP and have not made a HHTF PB (yet)
      • 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?
          • We are still in an imbal­ance how­ev­er PA can’t sus­tain clean UT on HTF prob­a­bly due to DTF200MA, pos­si­ble cor­rec­tion com­ing on HTF (HHTF Mean rever­sion to VWAP)
  • TTF
    • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
    • What has the Asian Ses­sion printed?
      • We had a HTFLKCCAS and might test this lev­el lat­er on again

Trade Idea

  • Hypo 1 Short
    • Entry around 58.95
    • Tar­gets 58.70, 58.25
  • Hypo 2 Long
    • Entry around 58.80
    • Tar­gets 59.50
  • Hypo 3 Rota­tion­al 58.60 — 59.40

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

Read­ing the Tape

  • What is printing? 
    • 16:05
      • After open we had a TTFLKCCAS and then ral­ly to UKC pos­si­ble UKCBO how­ev­er 200MA in the way, we might be up for anoth­er TTF R day
    • 16:35
      • I think that because due to DTF POI PA is some­what irra­tional and I should be extra care­ful today. Only with real clar­i­ty should I take my next trade. 
    • 17:05
      • Messy TTF R in effect, HTF R Squeeze hug­ging the 50MA
    • 17:35
      • Messy TTF R in effect, HTF R Squeeze hug­ging the 50MA, pos­si­ble BD to HTF LKC, I’d expect anoth­er swing to LH before a big drop to HTF LKC though
    • 18:05
      • Drop to HTFLKC
    • 18:35
      • Now the ques­tion is will we find sup­port at HTFLKC or will we make a run for HTF200MA to CAS
    • 19:05
      • Bounce off HTFLKC with pos­si­ble test of TTF VWAP still very bear­ish out­look although the bounce hap­pened at the HHTF VWAP so poten­tial bulls com­ing in. No clar­i­ty so no trades.
    • 19:35

    Dai­ly Report Card

    Trade Idea

    • Hypo 1 Short
      • TTFLKCBD
      • Entry around 58.95
      • Tar­gets 58.70, 58.25
    • Hypo 2 Long
      • Entry around 58.80
      • Tar­gets 59.50
    • Hypo 3 Rota­tion­al 58.60 — 59.40

    Date:6/27/2019Week­ly GoalExe­cute A+ (TTF TC) / A setups (TTF NT)

    Com­bined Score96

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

    8Ses­sion PECS100%10Real-time analy­sis

    8Hypos4/410Setups Iden­ti­fied (inc. TEST)

    10Trad­ing the process4/410Setups tak­en

    10Dai­ly review0/410Erro­neous Entries

    10Progress tow. week­ly goal0/410Erro­neous Exits


    • 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
    • Review
    P/L ticksTradeEntry ErrorsExit ErrorsType TradeSiz­ingRea­son to coverProb­lemPro­posed solution
    -10.6100(Exper­i­men­tal) TTF R LKCCAS1SOdropped too far below TTFLKC--
    -9.7200(Exper­i­men­tal) TTFLKCBD1SOre-entered LKC--
    -1.3300(Exper­i­men­tal) TTF R LKCCAS1ScratchedLoss of momen­tum at TTF VWAP pos­si­bly sell­ers com­ing in--
    5.4400(Exper­i­men­tal) TTF R LKCCAS1Scratchedbuy­ers dry­ing up at TTF VWAP no momen­tum to BO--
    • How accu­rate was my assess­ment of mar­ket context?
      • Hypo 3 — 80%
        • Still learn­ing on call­ing these in the hypos. Get­ting slight­ly bet­ter at it. Progress. Not perfection.
      • Real-time analy­sis
        • Did well here
    • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
      • P: Slept enough. Got up ear­ly. Did well here.
      • E: Did well here until the end. I got a phone call that threw me off so did not think about tak­ing any more trades. Did well to decide that. 
      • CS: Did well here. 
    • What’s one thing you learned today?
      • I should lim­it my exper­i­men­tal trades as well. Was think­ing more on this recent­ly. I will ana­lyze the trades I already took and decide which one(s) to focus on. 
    • What’s one thing I need to do more often?
      • Stay focused on build­ing my knowl­edge as well as PB
    • What’s one thing I need to do less often?
      • Think I have to take trades. I’ve been doing well here but I think I should take less exper­i­men­tal trades as well. Be more selective.


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


    Day trader. Tech geek. Sim Racing Enthusiast.

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