20121031
Short 1 TF 815.4, -0.2
Short 1 TF 815.0, +1.0
Long 1 TF 812.4, +0.8
Long 2 TF 811.4, 811.5, +1.0, +0.5
Long 2 NQ 2644.25, 2643.0, +4.0, +2.0
Long 2 YM 13071, 13072, +10, +7
Long 2 YM 13023, 13020, +1, +18
Total YM +36
Total NQ +6.0
Total TF+3.1
Knowing when to take fixed mechanical profits versus letting a runner develop often seems more art than plan. The initial sell signals at the HOD (high-of-day) in the TF occurred in very whippy action, and sometimes extremely whippy action is simply a valid sign to step aside. Being stubborn about signals is not part of a trade plan. Trades don't have to work. Lower down, buy signals started occurring at subsequent support levels, all counter trend trades, and none with clear stp n rev signals to get short on, according to plan rules. Again at the LOD, mechanical exits were possible runners as the TTI Momentum indicator signaled to HOLD through resistance, but with the daily quota of about $500 in hand for 1st Time Frame trading, there was nothing wrong with going flat and leaving the screen. Your plan should include a daily quota that is reasonable for whatever time you plan to stay in front of the charts. Learn to stop trading when you hit your quota. You can always come back and trade the 2nd or final frame of the day, if you have a specific action plan for trades in those frames. Taking a break from the screen will do you good. And remember, the 2nd and final frames are almost like approaching different trading days than the 1st frame altogether. Best to clear your head, or else commit the fatal error of trying to trade the 2nd frame with expectations of the market repeating what it did in the 1st frame .....
