20121022
Long 2 TF 816.1, 816.0, +0.5, +1.0,
Short 1 TF 815.6, -0.5
Long 2 TF 816.4, 816.3, -0.5, +0.5
Long 1 TF 816.4, -0.5
Short 2 TF 818.6, 818.9, +05, -0.6
Long 2 NQ 2674.5, 2674.5, +2.0, +3.0
Short 1 TF 814.8, -0.2
Total NQ +5.0
Total TF +0.2
The 1st frame of the day was choppy, but manage to stick to the trade plan pretty closely. The trade summary does not show another short near the early HOD at 818.9, around 10:08am ET, because I was not able to post that trade call in advance. So the actual net for TF was +2.0 on the day. But I do not track trades I don't post in advance, and as a rule, do NOT take any trades I do not post first. I don't believe this would be fair for the chat room or my track record. Today was just very choppy, and at times tested your stp-loss management.
There was one interesting phenom worth noting for the journal. At the end of the 1st frame, around 11:20am ET, all contracts were making new LOD's Low-of-Day). The TF had just earlier given a breakdown short signal to go with the move on a sell-stp, to possibly break the low of the day. But the short I took was showing nearly no profit. In another minute or so, the ES YM and NQ were all giving buy signals, even though the TF wasn't. I tightened the TF stp-loss on the short position to just -0.2 risk, which acknowledged those other buy signals, but I didn't take the extra step of buying any one of those other three contracts. This was a rule violation. "Consider trades in all the other contracts." It made on difference that I was still short the TF, in fact, all the more so that I should have taken the long trade BECAUSE I was short the NQ. Although the end of the 1st frame had already come, I do not have a strict rule to take NO further trades after exactly 11:15am ET. Those lows held nicely by the other contracts and produced very trade-worthy rally. It's a parallel to feeling unable to take a trade because of doubt or dread at signaled turning point that you are often unable to take a trade from your plan when the action of the market has worn you out with stp-outs from earlier trades. If the action is wearing you out, it's probably doing something very similar to everyone else, and a good turning point is very likely at hand. ...a small variation on one of Murphy's Law.
