Trade Summary
20130108
Long 2 NQ 2715.5, 2715.75, -1.0, -1.0
Long 2 TF 872.2, 871.1, -0.5, -0.5
Long 2 TF 871.8, 871.9, -0.5, -0.5
Long 2 YM 13278, 13279, +8, +6
Long 2 NQ 2708.5, 2708.25, +2.0, +2.0
Short 1 TF 870.6, -0.1
Long 1 TF 869.7, -0.2
Long 1 NQ 2702.75, -2.5
Long 2 TF 868.4, 868.5, +1.1, -0.3
Short 2 TF 870.7, 870.7, +0.1, -0.0
Total YM +15
Total NQ -0.5
Total TF -1.4
Breakouts can be the bane of traders. When they are working on one day, a trader can be drawn to them thereafter, only to get chopped up quickly. When you pass on them, and they work without you, you only feel more compelled by your apparent stupidity to start taking them again. But a trade plan should have rules. These rules should favor the type of breakouts that work more often than they fail. Those that do work but are outside of your plan, must simply be tolerated, despite the annoyance of your sidelined cash. And then there's your limit to the number of trades you take within a session. Mine is ten. Beyond that, and even if the losses are small, the commissions begin to be an issue. It's important to recognize when things aren't working... whether it seems to be with your executions or the plan itself doesn't seem to be in sync with the action. Keep the losses small. Tomorrow morning will be a different trading environment than today.
