20130510
Long 2 YM 15038, 15034, +1, -3
Long 1 TF 15033, -5
Long 2 YM 15026, +10, +20
Short 1 ES 1628.5, -0.5
Short 1 TF 969.8, +0.7
Long 2 TF 969.1, 969.1, -0.2, -0.4
Long 1 TF 968.1, -0.7
Long 3 NQ 2861.75, 2860.75, 2860.75, +2.0, +2.0, +3.0
Short 2 TF 968.5, 958.4, +0.5, -0.5
Short 2 YM 15051, 15051, +7, +8
Total YM +43
Total NQ +7.0
Total TF -1.1
It's always the fish that get away you remember the most... Today's midmorning collapse came with beatiful sell signals, first at the highs in the NQ and TF. I was working higher entry targets for both and failed to get on board. Fair enough. But on the way down, I failed to take the shorts at breakdown inflection levels because I was drawn into the relative strength of the TF against the far weaker YM. YM is seldom a good leader. But that doesn't mean it can't lead. And it also doesn't mean TF action appearances will be enough to keep it from breaking at inflection triggers. I had doubts. I let those doubts interfere with my trade plan. I missed the most important trades of the session because of those doubts. The question is, how to improve...? How to really change one's behavior...? Relive those moments that kept you blocked and away from the trades your trade plan called for. What were you thinking at those critical moments....? What were you feeling....? The point is not to try to eradicate those feelings. The very same ones will reappear next time. In fact, count on it. Use it. When that particular combination reveals itself again, use it as a signal to enter your trades. Teach yourself a new reaction to those feelings. You can't change those emotions. Don't expect to. But you can change your response. This is the stuff of self discipline.
