Trade Summary
20121129
Short 2 TF 722.6, 722.5, +0.5, +1.7
Long 1 TF 720.1, +1.4
Short 1 TF 723.1, -0.5
Long 1 TF 721.5, -0.5
Long 1 TF 719.4, +1.3
Short 1 NQ 2681.75, +5.0
Total NQ +5.0
Total TF +3.9
A trade plan should be tailored to the session one intends to trade. The 1st session of the day, from the Open to about 11:15am, is usually the most volatile. Today was a perfect example of such volatility, and if your plan does not accommodate a methodology that can signal such volatile swings, then the 1st time frame of the day is probably not for you. The 2nd frame can be much slower, more choppy, and often less impulsive. It may produce a trend, but more patience is required, and futures traders tend to have less patience. The last frame of the day, starting around 2:30pm ET, can return to impulsive action with more distinct trends. If you feel inclined to sit in front of the screen all day (something I gladly gave up some years ago), then you should at least consider adjusting your plan to accommodate the changing conditions. Going from one frame to another is almost like starting a new day. Leave the screen for awhile. Be prepared to take a fresh viewpoint. Have a plan for each frame. Trade the appropriate plan. And as Mark Douglas has advised, be the Disciplined Trader.
