20130509
Long 1 YM 15066, +10
Short 1 NQ 2965.25, +3.0
Long 2 TF 966.8, 966.2, -0, +1.0
Long 2 YM 15066, 15064, -6, -4
Long 1 TF 964.5, +0.5
Long 1 TF 964.5, -0.4
Short 1 TF 963.4, -0.1
Long 1 NQ 2955.0, +1.25
Total YM -0
Total NQ +4.25
Total TF +1.0
Today demonstrates how important the mental attitude is....even when your breakdown signals are as accurate as Serial Sequent. Today, the slow grinding collapse in the TF came against a steeply dropping TRIN. In fact, it nearly hit .60. That usually means buying is already dominant, and a turn is on the way. But the structure signaled 2 distinct breakdown triggers. For about 1 minute, I was in one with a short at 963.4. It had a 2 pt target to the next support and would have come just shy of that before turning. But I lacked the faith. I faced trading today on a shortage of sleep and a difficult wake-up against the rain and the humid air. Franky, I was half asleep and maybe should be grateful for the profits I did make. But this demonstrates how important it is to be fresh and mentally strong. Trading requires faith in your methods, and the trade plan will produce the best trade signals right at the places most difficult to trade them. That's how the market works. Don't expect anything less. "If it was easy, everybody 'd be rich and nobody 'd be poor."... as my mentor Randolph Newman use to say.... Stay disciplined.
