20130410
Short 2 TF 931.2, 931.0, -0.3, +0.5
Short 2 NQ 2820.75, 2820.5, -1.5, -1.5
Short 2 TF 933.0, 932.8, +0.5, -0.7
Short 1 ES 1573.25, -1.5
Short 2 NQ 2833.0, 2832.5, -1.25, +1.0
Short 2 TF 935.6, 935.4, +0.5, +2.0
Short 2 YM 14697, 14695, +7, -3
Short 1 TF 934.5, +1.0
Short 1 ES 1576.5, -1.0
Short 2 TF 936.8, 936.6, -0.4, -0.0
Short 2 TF 936.6, 936.8, -0.4, -0.2
Short 2 TF 939.6, 939.6, +0.5, +1.6
Total ES -2.5
Total YM +4
Total NQ -3.25
Total TF +4.6
It's easy to have a mental predisposition as to the trend direction in the larger daily time frames. We just can't believe it can go any lower or any higher... Right now, for me, I suffer a disbelief in this bull market extension. ...and probably for good reason... but that really has no meaning down in the lowest time frames where we trade index futures. Our world view is only the first hour and half of the day. That's the 1st frame. And in that frame, the market can do anything... and usually does. Today, there was a valid bull breakout trigger in the earliest going for the TF contract. But I just couldn't be a buyer. Part of it was the lingering affect of looking at the previous days charts as preparation for today, and seeing the total bull collapse at the close, suggesting gains can't held. Part of it was that prejudice of disbelief in the bull market extension referenced above. But in any case, thereafter, there was really nothing left to do with the rest of the frame than to use the sell signals that appeared as short entries, if I was to have any trades in this grinding bull at all. And those in the TF did pay off well, erasing my losses earlier. But a clear mind as to trend reference and the market's ability to extend to any height it wants is the proper frame of reference for the trader. Clear the mind. Accept the outcome. The market is its own authority on value, not you. Trade your plan. The rest will take care of itself.
