20130606
Long 1 NQ 2939.75, +3.0
Short 2 YM 15979, +7, +10
Long 1 TF 971.3, -0.4
Long 2 NQ 2939.75, 2939.0, -2.0, -1.25
Long 2 NQ 2936.0, 2936.25, +2.0, +5.0
Long 1 ES 16.09.25, -1.0
Long 1 TF 970.7, -0.5
Long 1 NQ 1635.25, -0.0
Long 2 TF 969.7, 969.7, +1.0, +2.0
Total ES -1.0
Total YM +17
Total NQ +6.75
Total TF +2.1
The NQ can often be the most volatile contract on the board. When fading it at what might be termed a full chaos fractal in my trade plan entry, I often get stp'd out. But how to use such volatility and excess to advantage? Take the inflection breakout triggers in the 2nd trend direction of the 1st hour frame. Today, was given just such an opp to go short as the market collapsed from the early 'Jump Ball' opening. But I balked. True, I had been short the YM at resistance near its high, but had already exited that short on initial support, and could have easily shifted my focus to the developing NQ signal. Stay focused. The purpose of having a trade plan is for seeing the potential setup models in advance as they are forming. You have a trade entry description. It has to fulfill certain requirements. It's just a quick mental checklist you have rehearsed a hundred times before. When the trade arrives, you should be prepared to take it. As an added help to getting prepared, I resolve to review my trade plan briefly before the cash NYSE market opens. Rehearse this mental preparation: "When the inflection breakout opportunity is setting up, be prepared to take the trade. Set your stop-entry, and let the market work. If this trade were not so consistently successful, it wouldn't be in my trade plan to take. Trade the plan. Stay disciplined.
