Total 2013 Trade Summary
20130516
Long 1 NQ 3005.25, +4.0
Short 1 NQ 3011.75, +2.0
Short 2 ES 1657.5, 1657.0, +1.0, +2.25
Long 1 TF 982.3, -0.4
Long 1 TF 982.4, +1.4
Short 1 TF 985.8, +1.0
Total ES +3.25
Total NQ +6.0
Total TF +2.0
Trading the 1st frame (9:30 to 11:15am ET) on a day like today requires pretty precise entries. Signals come quickly, and the best trades come from a plan that incorporates reversal signals. Keep your attitude neutral as to trend and trade from both sides while the market tries to sort itself out. A trend may eventually appear on such days as the 1st frame is coming to an end, but the volatility usually dissipates by then too, and you're back to a more grinder like condition. The waters seem calmer and attract less experienced traders who feel they need time to sort out their tape reading and intuition. This usually demonstrates that they do not come to the market with a trade plan. If they had one, the volatility would be attractive to them. They trade based on which way they think the market is trying to go. "...most of the money that is lost in the markets is lost by traders who thought they knew which way the market was supposed to go..." ---The Douglas Premise. Read about this and the accompanying Valhalla Corollaries in the free ebook from ValhallaFutures called Self Recognition. To trade, you must know yourself. But to learn yourself, you must monitor your reactions against the execution of a trade plan. Without this, all you are doing is trying to take the temperature of your daily intuition and tape reading skills. Don't tape read. Trade with a plan. A plan will set you free of stress and exhaustion. Either the unfolding market condition is in your plan, and you trade, or it is not, and you wait. Stay relaxed. Stay focused. Stick with your Trade Plan. Let the trade plan take you to consistent profits.
