Total 2012 Trade Summary
20121120
Short 1 TF 788.3, +1.3
Short 1 TF 787.9, -0.5
Long 1 TF 788.4, -0.4
Short 1 TF 789.1, -0.4
Short 1 TF 789.9, +0.5
Long 2 TF 788.5, 788.6, +0.5, -0.5,
Long 3 TF 787.8, 787.5, 787.5, +1.6, +0.5, +0.5
Total +3.1
Be careful what you ask for.... says the proverb. Today's swings were big in the initial time frame, not unlike yesterday. But today's were a bit less organized and gave some mixed entries, as they extended through expected support numbers on pullbacks. But if the signal is still good, and you let your stp's take you out, you can more easily review the price position without further pressure. Some prefer to use very big stp's when they trade. Some even move the stp's in order to accommodate their intuition that the trade should still be going their way. I prefer to set my stp's around the expected turning points, which for ValhallaFutures, is always a combination of wave structure and support/resistance grid numbers. If price breaks beyond this, the stp's take me out. Often, the complexity of the wave structure simply regenerates the signal. Fine. So what if I got stp'd out. I'm not hurt to re-enter. There are plenty of trades each day. Small losses are the trader's friend. Large losses take you out for the day, and may keep you flat for the week, and even the month. Have a plan. A plan should not only include precise entry concepts, but money management and behavior management stop-loss triggers. Trade within the plan.
