Playbook & Trade Planner Combined

[JC 22]

I have created a combined Playbook and Trade Planner that may be of use for some fellow members.  I use it myself as a kind of cheat sheet to refer to prior to entering a trade.

The idea was to store setups / strategies with picture examples in a single file that can reveal that example with the click of a button.  An example of a cheat sheet is shown in the picture.  In addition to the pictures of setups I have also defined some indicators / rules for each setup which refresh with the setup selection. 

I define the indicators on the "Strategy_definition" sheet and add pictures in the (hidden) columns on the "Plan" sheet.  When a strategy is selected in cell D8 and the button is clicked, it refreshes the table of indicators and unhides a cheat sheet example picture for that setup / strategy.  It is a bit slow to refresh.

In addition I have added a trade planner table.  I enter my intended STOP and entry price and the intended trade direction (Long / Short) and it refreshes the R:R table which provides me with the price levels that would need to be met to deliver a 2R trade and beyond.  I like to compare these price levels to support / resistance levels I have marked on the stock and other technical levels and moving averages to assess the potential roadblocks at various prices.  In addition I may throw in a rough trade management plan on a simplified level with Partials planned out.  I include some other useful info like RVOL, the direction of the overall market etc whilst planning the trade.

As a pretty new trader still in SIM I have found this has helped me to be more disciplined / patient.  It also helps journal later as it gives an idea of what I was expecting before entering a trade.  I just copy a new "Plan" sheet for every new trade and have one file for the trading day with several sheets.

The setups I have included are my interpretation of setups mainly from the moderators success webinars.  On that basis, take it as a disclaimer to check that you agree with my interpretation and test in SIM if you plan on using this.

The file is an excel document and can be accessed via the Google drive link below.  It needs to have macros enabled in order for the button to unhide the cheat sheet pictures to work.  I have left some blank fields to allow a longer list of setups to be included.

Any feedback, tips or suggestions for improvement are most welcome.

https://drive.google.com/file/d/1wm5YohE7wgNn69IEGJrUBwBn1x52zPoW/view?usp=sharing

Edited November 28, 2020 by JC
Updated version of file.

[Yazz1985 0]

Hi JC, Many Thanks for this! This has really helped me with journaling and keeping track of my trades and progress. The breakdown of individual stats is brilliant! Its really helping me nail down which strategies are working best for me and giving the most consistent 'R'.  Im so glad you have shared this with the team. It is very comprehensive. 

Previously, I was using a very basic spreadsheet i made myself, im no Excel expert by any means, and it definitely wasn't getting me very far in showing me what is and what is not working. I love how your spreadsheet/journal allows someone to clearly see all the different metrics and really get to the nitty gritty. 

Lastly, the Playbook is amazing! I love how i can pull up clear examples of all my different strategies and setups and take a quick glance, reminding of exactly what I should be looking for. Also, i can track the rules required for each setup. The most useful part on a day to day basis is the 'R' calculator, this enables me set tighter stops and know exactly when i should take partials and not miss out on a bunch of profits! 

Once again, Thank You so much for sharing this amazing trade tracking tool! 

[JC 22]

17 hours ago, Yazz1985 said:

I love how i can pull up clear examples of all my different strategies and setups and take a quick glance, reminding of exactly what I should be looking for. Also, i can track the rules required for each setup. The most useful part on a day to day basis is the 'R' calculator, this enables me set tighter stops and know exactly when i should take partials and not miss out on a bunch of profits!

Good to hear the playbook trade planner has been useful. 

Thanks for the feedback on the analysis file as well.  I didn't post the file on this link but I can post it on the forum as a new topic once I have made a couple of adjustments and tested it again.

JC

[Warren J 0]

I can't believe I was lucky enough to run across this post.  I am a newbie who is just beginning to work in the simulator.  I have been learning day and night and this is just what I need to help me understand the actual planning of a trade, and what needs to be understood and researched before the trade.  Thank you very much!

[JC 22]

7 hours ago, buford7 said:

I can't believe I was lucky enough to run across this post.  I am a newbie who is just beginning to work in the simulator.  I have been learning day and night and this is just what I need to help me understand the actual planning of a trade, and what needs to be understood and researched before the trade.  Thank you very much!

No problem buford7, I hope it helps. 

I would never claim that this playbook trade planner file is the complete package for trade planning (I am also trading in Sim and still learning every day). 

I used the file in combination with a wider process as listed below:

• Watch the BBT pre-market show
• Build a morning watchlist based on the preferred stocks
• Check the news for the stocks on the watchlist using Finviz / Benzinga and other sources
• Identify the major levels of support and resistance starting with the higher timeframes and working down (weekly / daily / 60 minute charts) for the stocks on the list
• Identify any levels of support / resistance forming in the pre-market and mark those on the charts for the watchlist stocks
• Check the charts for SPY and QQQ to get a feel for the overall market
• Build some very basic what-if statements for the stocks on the watchlist e.g. If the stock is in a clear uptrend, wait for a pullback that offers 2R or higher and enter with an ABCD setup on the 2 minute chart, using the 1 minute chart to execute the entry
• Select the setup from the playbook trade planner to get a visual aid for the setup as the setup is forming
• Enter the STOP price and the intended entry price for the trade in the Trade planner
• Check that 2R is possible on the R:R table (there are no major levels that could act as a roadblock before hitting the price for 2R)
• Run through the checklist of indicators, if the majority of indicators are confirmed then I take the trade

This is quite a mechanical approach, but the more I have gone through the steps the more intuitive it becomes and the less I need to refer to the list of indicators as I know what I am looking for. 

I do find that having a visual aid / example and having a checklist of key indicators / confirmations to refer to has helped me.  I have a bit more patience and composure now rather than just jumping into a trade based on hope.  Keeping a journal is also extremely valuable. 

Other useful info available through BBT (which you may already have seen):

This forum post was very useful (I used Matthew's pdf files to cross reference the indicators I have included for the setups in my excel file):

 

In addition I would really recommend the success webinars from the BBT mods if you have access to that content.  They contain a huge amount of useful advice:

https://bearbulltraders.com/lessons/from-the-beginning-setting-up-a-training-plan/

https://bearbulltraders.com/lessons/creating-a-trading-business-plan-mike/

https://bearbulltraders.com/lessons/week-15-peter-day-by-day-trading-plan/

https://bearbulltraders.com/lessons/week-17-peter-journaling/

https://bearbulltraders.com/lessons/developing-your-edge-playbook-through-journaling/

 

Aiman is scheduled to present another success webinar on 7th October "The Tradebook" which also sounds very relevant so watch out for that.

 

JC

 

[CliffG 31]

Thanks JC, Had a look through the sheet. Really amazing work there

[JC 22]

On 9/7/2020 at 4:25 PM, CliffG said:

Thanks JC, Had a look through the sheet. Really amazing work there

Thanks CliffG, much appreciated...

[Pit-Man 3]

Thanks JC, this is an amazing work you put together!!! I am currently using Chartlog for my journaling but your work will certainly add to the quality of my Playbook! 

Keep in touch mate!

 

[sam1202 0]

I am also a new trader on SIM, I just downloaded your excel spreadsheet and find it very useful. Thanks for putting this together and sharing with the BBT community, I plan to use it to track my progress 

[JC 22]

On 12/5/2020 at 11:47 PM, sam1202 said:

I am also a new trader on SIM, I just downloaded your excel spreadsheet and find it very useful. Thanks for putting this together and sharing with the BBT community, I plan to use it to track my progress 

Glad you find it useful!  I put it together so others can make their own versions with their own setups.  You can just add in additional pictures and describe the rules for the setup and build your own playbook...

I am still trading in SIM myself so I don't profess to be an expert in any shape or form!