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30072019 Tuesday — Trade Plan & Journal

30072019 Tuesday — Trade Plan & Journal

30072019 Tues­day — 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
    • Eat more healthy by cut­ting out rice, noo­dles, etc. and focus­ing more on veg­gies and meat.
  • Goal for the month of August
    • No alco­hol. 
  • 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 had a good night of sleep and feel good.
  • How would you rate it (1–5)? 1/2 = don’t trade 3= quar­ter posi­tion 4= half posi­tion 5= full position
    • 5

Mar­ket Prep

Intra­day Tech­ni­cal Analysis

  • HHTF
    • Crossed over the 50MA and might be look­ing to start a HHTF R, PA has not quite reached UKC yet but could also just as much be due for a PB to 50MA.
  • HTF
    • Lev­els
      • Prev. High 57.094
      • PVAH 56.531
      • PPOC 56.121
      • PVAL 55.983
      • Prev. Low 55.838
  • TTF
    • What has the Asian Ses­sion printed?
      • Small PA lat­er­al mean rever­sion to HTF UKC
    • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
      • HTF U TC @ VWAP
      • HTF U TT @ VWAP BD

Trade Idea

  • Hypo 1 Short
    • HTF U TT
      • Entry around 57.20
      • Tar­gets 56.90
  • Hypo 2 Long
    • HTF U TC
    • Entry around 57.30
    • Tar­gets 57.60
  • Hypo 3 Rotational
    • 57.05 — 57.30

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
        • Could be due for PBH or could be reach­ing for UKC
      • HTF
        • HTF U TC @ VWAP but a lot of AD going on here so not sure if there will be a TC or TT
      • TTF
        • TTF R AD in effect no clar­i­ty yet
      • Oppor­tu­ni­ty (if any)
        • HTF U TC @ VWAP
        • HTF U TT @ VWAP BD + PB
    • 16:35
      • HHTF
      • HTF
        • We did make a move up in line with HTF U TC but might be weak­ness in the move and U TT might still be a valid hypo
      • TTF
        • TTF R Over­bought look­ing for VWAP BD + PB to re-enter after I got stopped out on my first attempt at catch­ing HTF U TT on the front side of the move. 
      • Oppor­tu­ni­ty (if any)
        • HTF U TT (more prob­a­ble still. 
        • HTF U TC
    • 17:05
      • HHTF
      • HTF
        • Inde­ci­sion can­dle after the U TC move. No clar­i­ty on bias. Still in short posi­tion but might be look­ing to scratch
      • TTF
        • AD @ TTF UKC kin­da look­ing bull­ish still so expect to scratch or stop out
      • Oppor­tu­ni­ty (if any)
        • Still in HTF U TT Short
          • Scratch bey­ong pre­vi­ous swing high
        • TTF R AD UKC BO as part of HTF  U TC move to HHTF UKC
          • Look for PB to enter
    • 17:35
      • HHTF
      • HTF
        • Lack of clar­i­ty, got­ta wait for more con­fir­ma­tion on the U TT , if U TC still valid I’ll prob­a­bly be too late to get in.
      • TTF
        • Fail­ure to BO from UKC + pos­si­ble rever­sal can­dle = grow­ing more biased towards HTF U TT
      • Oppor­tu­ni­ty (if any)
        • HTF U TT
          • Wait for TTF50MABD
    • 18:05
      • HHTF
      • HTF
        • Inde­ci­sive small PA above UKC
      • TTF
        • Stay­ing long-biased above 50MA
        • Pos­si­ble exhaust­ed move get­ting clos­er to HHTF UKC but move doesn’t seem long enough to be con­fi­dent­ly an exhaust­ed move wait for con­fir­ma­tion to either bias
      • Oppor­tu­ni­ty (if any)
    • 18:35
      • HHTF
        • Get­ting clos­er to UKC
      • HTF
        • Seems the HTF U TC was in effect after all and not­ed it for my log
      • TTF
        • TTF R AD mov­ing upwards above 50ma and VWAP
      • Oppor­tu­ni­ty (if any)
        • Am hes­i­tant to take any long posi­tions since we are so close to a HHTF tar­get lev­el ie. HHTF UKC
    • 19:05
      • HHTF
      • HTF
        • Move back to UKC area
        • VWAP moved back into KC
      • TTF
        • Swing highs clos­er to each oth­er plus touch of VWAP + BD
      • Oppor­tu­ni­ty (if any)
        • No clar­i­ty 
    • 19:35
      • HHTF
        • Pos­si­ble PB to 200MACAS
      • HTF
        • Breach down from UKC
      • TTF
        • 50MABD but halt­ed above LKC
      • Oppor­tu­ni­ty (if any)
        • HTF U TT @ VWAP BD + PB (prob­a­bly dur­ing NY)
    • 20:05
      • HHTF
      • HTF
      • TTF
      • Oppor­tu­ni­ty (if any)

Dai­ly Report Card

Trade Idea

  • Hypo 1 Short
    • HTF U TT
      • Entry around 57.20
      • Tar­gets 56.90
  • Hypo 2 Long
    • HTF U TC
    • Entry around 57.30
    • Tar­gets 57.60
  • Hypo 3 Rotational
    • 57.05 — 57.30





Dai­ly Report Card



Date:7/30/2019



Week­ly GoalExe­cute A+ / A setups



Com­bined Score87



Process Report Card (10 each)

10Ses­sion PECS

10Hypos

5Mar­ket Prep

10Dai­ly review

10Progress tow. week­ly goal

45Total






Per­for­mance Report Card (10 each)
100%7Real-time analy­sis
2/210Setups Iden­ti­fied (inc. TEST)
1/25Setups tak­en
0/210Erro­neous Entries
1/210Erro­neous Exits

42total



  • Week­ly Goal
    • Only trade A/A+ trade ideas
    • For­ward test exper­i­men­tal trades
  • Review
TradeEntry ErrorsExit ErrorsType TradeSiz­ingRea­son to coverProb­lemPro­posed solution
Ses­sion--------
101(exper­i­men­tal) HTF U TT10SOstop too tightstop too tightGive more space to devel­op for a rever­sal move — logged into PB
00(exper­i­men­tal) HTF U TT10Scratchedpush back at TTF50MA--
200(exper­i­men­tal) HTF U TC10scratchedno push back at 50MA--
300(exper­i­men­tal) HTF U TT10Hit 1st Target---
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 1 & 2 played out — 100%
      • Start­ed ses­sion with Hypo 2 and then turned into Hypo 1
    • Real-time analy­sis — 70%
      • I was forc­ing Hypo 1 and did not antic­i­pate the influx of new buy­ers com­ing in as part of Hypo 1 tak­ing out my stop (which was too tight or else I would have had more trades in profit)
        • This was again a great oppor­tu­ni­ty to trade a mar­ket nar­ra­tive that I have been work­ing on. This is my first time trad­ing this (with the knowl­edge of the nar­ra­tive in mind) so I am not going to be too hard on myself. Hap­py with my progress in under­stand­ing my approach to the mar­ket as per my goal.
  • 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?
    • I under­stand more about how the rela­tion between my time frames interacts
  • Positive(s)
    • Did well to stay calm dur­ing trades and take my stop
    • Did well to not go long while short even though I was very tempt­ed to do so. I can only have one trade idea on direct­ing my trades.
  • Negative(s)
    • Due to a blue screen of death (BSOD) on my main PC I spent time I would usu­al­ly write my mar­ket prep on fix­ing the issue. Still not sure if I fixed it but no issues yet. Fin­gers crossed. This is the rea­son I wrote my mar­ket prep when I would nor­mal­ly start watch­ing the ses­sion. Per­haps this lat­er writ­ing of mar­ket prep also aid­ed in a clear­er view on poten­tial hypos. Sad­ly, nor­mal­ly don’t have time to do it right before I start watch­ing the session.
    • Did not do well on forc­ing Hypo 1. I should have let MGI direct my approach. As I was act­ing on hypo1 I saw the signs for hypo 2 and did not shift gears to act on hypo 2 rather to stick it out with trad­ing on Hypo 1. Then when Hypo 1 did come into play I took one trade based on hypo 2 that luck­i­ly I scratched and real­ized my hypo 1 was con­firmed and took a trade on that. I’m gonna replay tomor­row as always and log into my playbook. 
    • One stop I put too tight. Usu­al­ly have a 15 tick stop and work­ing on an exper­i­men­tal rever­sal trade I should have put a wider stop because I got in on the front side of the move. When I rewatch the ses­sion tomor­row I will decode and log in my play­book if enter­ing on the front side is for me or I should just focus on when the trade is con­firmed. My thoughts now sug­gest the lat­ter. Will see tomorrow. 

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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