20131031
Short 1 YM 15570, +12
Long 2 TF 1101.8, 1101.6, -0.6, -0.5
Long 2 NQ 3365.5, 3365.0, -2.0, +2.0
Long 2 YM 15497, +15
Long 2 YM 15504, 15501, -1, +7
Short 2 TF 1097.8, 1097.9, -0.4, +0.5
Long 1 TF 1097.8, +1.2
PM trades:
Short 1 TF 1106.9, +1.5
Long 2 TF 1102.9, 1103.1, -0.4, -0.0
Long 1 TF 1100.7, +1.0
Total YM +33
Total NQ -0.0
Total TF +2.3
The trade signals were clear at the early top today, but only managed to get one contract in the YM. Instead of staying focused on getting a 2nd there, moved to the preferred TF contract which failed to complete the signal before the ensuing collapse. I was being too careful, and should have gotten that other YM. When the signal is in, take the signal and get the fills. You came here to take calculated risks. Sometimes those trades are going to fail. That's a given. But you must show commitment to the trade model. You defined with some precision for a reason. Get in the trade. Since today's selling was following a Persistent Trend Day Down, the model called for a bullish reversal. This one failed to fulfill the model requirements, and thus was left waiting for a pullback to get in longs. The final signal came as a breakout, and as it came just at the end of the 1st Frame, I allowed myself to be filtered out of that trade call altogether. It succeeded without me, but do believe that cutting off breakout signals at some point between the 1st and Midday Frames is still good business when the 1st Frame has demonstrated volatility, yin-yang. Stay with the plan. Improve the behavior. Get focused for the entries and execute.
PM Addendum:
not dissimilar results in PM to AM, in that was short near the HOD, but with only a 1 lot, and failed to capitalize on the decline with a runner as it developed deeper than expected. "Position yourself to be surprised", was a favorite saying of my mentor, Randolph Newman. In this case, however, I cannot fault myself as badly as this morning's 1-lot positioning, as I only go into the PM session for further trades if the AM has a good profit cushion, which today, I did not. Tomorrow is Friday, but will try to be fresh and prepared, as have had no losing days either this week or last.
Wed Oct 30 Trades & Journal
20131030
Short 2 YM 15648, 15648, +7, +25
Long 2 TF 1116.4, 1116.3, -0.4, +0.4
Long 2 TF 1113.9, 1113.9, +0.7, -0.4
Long 3 ES 1766.0, 1766.5, 1766.0, -0.5, -0.0, -0.5
Long 2 YM 15609, 15612, +7, +15
Long 1 YM 15618, +10
Long 2 TF 1113.2, 1113.0, -0.4, -0.2
Long 1 TF 1112.4, -0.4
Long 1 YM 15609, -5
Short 1 YM 15599, -1
Long 1 TF 1115.5, -0.5
Long 1 YM 15590, -1
Long 2 TF 1108.5, 1108.4, -0.7, +0.7
Long 2 YM 15590, 15589, +14, +5
Long 1 TF 1108.2, +1.0
PM trades:
Long 1 YM 15615, +20
Long 2 YM 15583, 15583, -4, -4
Long 2 TF 1102.6, 1102.4, -0.0, +1.0
Long 1 TF 1102.9, -0.3
Long 2 TF 1102.5, 1102.5, -0.6, -0.6
Long 2 TF 1102.2, 1102.2, -0.4, -0.4
Long 2 YM 15513, 15513, +7, +20
Total YM +115
Total ES -1.0
Total TF -1.5
Gave into several weaknesses today. The first is that I took too many trades in the AM. My excuse was that the YM signals were so good, but far less profitable than successful trades would have been in the TF, if I had made any successful trades in the TF, that is. Those were scant, but the YM success kept me coming back for more TF. And same story for the FOMC volatility in the PM session. It was if the TF and YM were trading on different days of the week, both yesterday and today, so it does complicate things, especially as my Trade Models usually assemble around a confluence of disparate technical phenomena from several contracts. Since I'm using the same event models for both contracts, when one is failing repeatedly at support/resistance/exhaustion zones, you might realize the issue has persistence, and simply avoid fresh positions in that contract for the rest of the day. But that wisdom is usually only acquired too late. I'll let this day settle on me a bit, and try to come back to its significance in the days ahead. There's something initially intangible regarding trade behavior to learn from this.... but not sure how to convey it in precise enough language yet to be of any self-help. Stay focused. Each day is different, but your Trading Plan and behavior governors do not change.
Short 2 YM 15648, 15648, +7, +25
Long 2 TF 1116.4, 1116.3, -0.4, +0.4
Long 2 TF 1113.9, 1113.9, +0.7, -0.4
Long 3 ES 1766.0, 1766.5, 1766.0, -0.5, -0.0, -0.5
Long 2 YM 15609, 15612, +7, +15
Long 1 YM 15618, +10
Long 2 TF 1113.2, 1113.0, -0.4, -0.2
Long 1 TF 1112.4, -0.4
Long 1 YM 15609, -5
Short 1 YM 15599, -1
Long 1 TF 1115.5, -0.5
Long 1 YM 15590, -1
Long 2 TF 1108.5, 1108.4, -0.7, +0.7
Long 2 YM 15590, 15589, +14, +5
Long 1 TF 1108.2, +1.0
PM trades:
Long 1 YM 15615, +20
Long 2 YM 15583, 15583, -4, -4
Long 2 TF 1102.6, 1102.4, -0.0, +1.0
Long 1 TF 1102.9, -0.3
Long 2 TF 1102.5, 1102.5, -0.6, -0.6
Long 2 TF 1102.2, 1102.2, -0.4, -0.4
Long 2 YM 15513, 15513, +7, +20
Total YM +115
Total ES -1.0
Total TF -1.5
Gave into several weaknesses today. The first is that I took too many trades in the AM. My excuse was that the YM signals were so good, but far less profitable than successful trades would have been in the TF, if I had made any successful trades in the TF, that is. Those were scant, but the YM success kept me coming back for more TF. And same story for the FOMC volatility in the PM session. It was if the TF and YM were trading on different days of the week, both yesterday and today, so it does complicate things, especially as my Trade Models usually assemble around a confluence of disparate technical phenomena from several contracts. Since I'm using the same event models for both contracts, when one is failing repeatedly at support/resistance/exhaustion zones, you might realize the issue has persistence, and simply avoid fresh positions in that contract for the rest of the day. But that wisdom is usually only acquired too late. I'll let this day settle on me a bit, and try to come back to its significance in the days ahead. There's something initially intangible regarding trade behavior to learn from this.... but not sure how to convey it in precise enough language yet to be of any self-help. Stay focused. Each day is different, but your Trading Plan and behavior governors do not change.
Tues Oct 29 Trades & Journal
20131029
Short 2 TF 1119.6, 1119.8, +0.7, +1.3
Long 1 TF 1117.5, -0.5
Short 1 TF 1117.0, -0.0
Short 2 TF 3378.25, 3378.75, -1.5, +1.5
Short 1 TF 1117.9, +1.0
Short 1 TF 1118.9, +1.0
Long 2 TF 1114.6, 1114.5, +0.8, +0.7
Total NQ -0.0
Total TF +5.0
The Trader can so easily fall into habitual behavior. And once in, it's like stepping into concrete. Your feet just won't let you out. With breakouts, I have a reasonable excuse; I'm still looking for the right set of filters to screen out the less-likely-to-succeed. But with position size and greater excursion, I have no real excuse--other than that of ingrained habits. The fact that I've been making a 1st Frame quota by trading 1-lot positions this past month or so only helps to dry out the cement around my feet. Today, right at the Trend Check, with an ideal entry presenting itself, I again took a 1-lot position, not out of any fear that 2 might be unsafe, but simply because I was just so comfortable selecting the 1-lot trade strategy at that moment, that I didn't even remember my commitment to work on extending my excursions. Maybe it was just he rainy day outside... Tomorrow, I'll be more committed to increasing size and excursion. Be committed to change. Discipline is an ongoing practice. Stay focused.
Short 2 TF 1119.6, 1119.8, +0.7, +1.3
Long 1 TF 1117.5, -0.5
Short 1 TF 1117.0, -0.0
Short 2 TF 3378.25, 3378.75, -1.5, +1.5
Short 1 TF 1117.9, +1.0
Short 1 TF 1118.9, +1.0
Long 2 TF 1114.6, 1114.5, +0.8, +0.7
Total NQ -0.0
Total TF +5.0
The Trader can so easily fall into habitual behavior. And once in, it's like stepping into concrete. Your feet just won't let you out. With breakouts, I have a reasonable excuse; I'm still looking for the right set of filters to screen out the less-likely-to-succeed. But with position size and greater excursion, I have no real excuse--other than that of ingrained habits. The fact that I've been making a 1st Frame quota by trading 1-lot positions this past month or so only helps to dry out the cement around my feet. Today, right at the Trend Check, with an ideal entry presenting itself, I again took a 1-lot position, not out of any fear that 2 might be unsafe, but simply because I was just so comfortable selecting the 1-lot trade strategy at that moment, that I didn't even remember my commitment to work on extending my excursions. Maybe it was just he rainy day outside... Tomorrow, I'll be more committed to increasing size and excursion. Be committed to change. Discipline is an ongoing practice. Stay focused.
Mon Oct 28 Trades & Journal
20131028
Long 1 TF 1115.0, +1.5
Short 1 TF 1116.9, +1.1
Long 2 YM 14488, 15490, -2, +7
Short 1 ES 1757.25, +0.25
Short 1 NQ 3379.25, +2.25
Long 1 TF 1115.9, -0.3
Long 1 TF 1112.8, -0.7
Long 2 TF 1111.3, 111.4, +1.0, +0.7
Long 1 TF 1110.1, +1.4
Total Ym +5
Total NQ +2.25
Total TF +4.7
When is a trade only worth holding for a minimum profit and when is it worth taking multiple lots and peeling them down to a runner....? Well, if I had that answer definitively, my trading would take one giant step for mankind. For instance, although I was short both the ES and the NQ near the highs of the 1st Frame today, I could not be sure enough that we had reached a final buying climax in the that early bull trend til it was well behind me, and I had already exited. In fact, the ES was producing so poorly I dumped it immediately as the NQ continued to peel off. One solution is to step out of shorts as support and structure approach, but look for stp n rev levels back to short should the apparent pullback gather enough extension to warrant the identity of a new trend. Breakouts are my weakest play. I find then so fraught with failure, that, like today, I'll pass on committing to an entry at the breakout level in anticipation of a bounce that gives me a pullback in-trend entry, rather than going with a fresh break. But the market is not always so accommodating, especially on the bear side, where once it gets the message that the trend has turned down, often leaves the station on the express train, and waits for no man. We continue to examine our breakout filters, and hope to eventually crystallize a more concrete set of parameters with which to govern trade behavior at those critical junctures. Always be a student... both of the markets, and your own trading behavior.
Long 1 TF 1115.0, +1.5
Short 1 TF 1116.9, +1.1
Long 2 YM 14488, 15490, -2, +7
Short 1 ES 1757.25, +0.25
Short 1 NQ 3379.25, +2.25
Long 1 TF 1115.9, -0.3
Long 1 TF 1112.8, -0.7
Long 2 TF 1111.3, 111.4, +1.0, +0.7
Long 1 TF 1110.1, +1.4
Total Ym +5
Total NQ +2.25
Total TF +4.7
When is a trade only worth holding for a minimum profit and when is it worth taking multiple lots and peeling them down to a runner....? Well, if I had that answer definitively, my trading would take one giant step for mankind. For instance, although I was short both the ES and the NQ near the highs of the 1st Frame today, I could not be sure enough that we had reached a final buying climax in the that early bull trend til it was well behind me, and I had already exited. In fact, the ES was producing so poorly I dumped it immediately as the NQ continued to peel off. One solution is to step out of shorts as support and structure approach, but look for stp n rev levels back to short should the apparent pullback gather enough extension to warrant the identity of a new trend. Breakouts are my weakest play. I find then so fraught with failure, that, like today, I'll pass on committing to an entry at the breakout level in anticipation of a bounce that gives me a pullback in-trend entry, rather than going with a fresh break. But the market is not always so accommodating, especially on the bear side, where once it gets the message that the trend has turned down, often leaves the station on the express train, and waits for no man. We continue to examine our breakout filters, and hope to eventually crystallize a more concrete set of parameters with which to govern trade behavior at those critical junctures. Always be a student... both of the markets, and your own trading behavior.
Fri Oct 25 Trades & Journal
20131025
Short 2 NQ 3382.50, 3384.5, -3.0, -1.5
Short 3 NQ 3385.2, 3386.5, 3386.25, +2.0, +3.0, +4.0
Long 1 TF 1117.5, +0.9
Short 2 TF 1119.6, 1119.4, +0.8, -0.0
Long 1 TF 1114.8, +1.3
Total NQ +4.5
Total TF +3.0
I've often been reminded by the day's net outcome to trading activity accomplished without a good night's sleep. This was especially evident today. But it showed up mostly in my exits. Just didn't have the heart to hold on, especially considering that the Trade Plan got us short just a few ticks from the high-of-day in the TF, and I profited so little from it. Easy to have an excuse on Friday, and glad to be off for a few days with family. All the best ....and stay focused.
Short 2 NQ 3382.50, 3384.5, -3.0, -1.5
Short 3 NQ 3385.2, 3386.5, 3386.25, +2.0, +3.0, +4.0
Long 1 TF 1117.5, +0.9
Short 2 TF 1119.6, 1119.4, +0.8, -0.0
Long 1 TF 1114.8, +1.3
Total NQ +4.5
Total TF +3.0
I've often been reminded by the day's net outcome to trading activity accomplished without a good night's sleep. This was especially evident today. But it showed up mostly in my exits. Just didn't have the heart to hold on, especially considering that the Trade Plan got us short just a few ticks from the high-of-day in the TF, and I profited so little from it. Easy to have an excuse on Friday, and glad to be off for a few days with family. All the best ....and stay focused.
Thurs Oct 24 Trades & Journal
20131024
Long 2 ES 1740.5, 1740.25, +2.0, +1.5
Short 2 NQ 3343.5, 3343.0, +2.0, -2.0
Short 2 NQ 3344.0, 3345.0, +2.0, +2.0
Long 1 TF 1109.6, +1.0
Short 1 TF 1112.6, +0.7
Long 2 TF 1110.9, 1110.5, +1.0, +0.7
Total ES +3.5
Total NQ +4.0
Total TF +3.2
Holding onto positions to get their fuller excursions is perhaps the biggest challenge of all. The markets are so volatile, and in the 1st frame where I concentrate my entries, the whiplash action pushes you out of trades mentally often too soon. That, and finding the right breakout filters are the two areas in need of most of my focus on improvement. The issue of the right breakout filters is a work in progress in study and post-market closing time studies, and not a mental issue. Exiting too soon, that's a mental thing entirely, and is complicated by the needed confidence of taking more than one or two contracts when a trade signal appears. Will try to bring more focus into that issue in the coming days ahead, here in the journal. Stay focused.....
Long 2 ES 1740.5, 1740.25, +2.0, +1.5
Short 2 NQ 3343.5, 3343.0, +2.0, -2.0
Short 2 NQ 3344.0, 3345.0, +2.0, +2.0
Long 1 TF 1109.6, +1.0
Short 1 TF 1112.6, +0.7
Long 2 TF 1110.9, 1110.5, +1.0, +0.7
Total ES +3.5
Total NQ +4.0
Total TF +3.2
Holding onto positions to get their fuller excursions is perhaps the biggest challenge of all. The markets are so volatile, and in the 1st frame where I concentrate my entries, the whiplash action pushes you out of trades mentally often too soon. That, and finding the right breakout filters are the two areas in need of most of my focus on improvement. The issue of the right breakout filters is a work in progress in study and post-market closing time studies, and not a mental issue. Exiting too soon, that's a mental thing entirely, and is complicated by the needed confidence of taking more than one or two contracts when a trade signal appears. Will try to bring more focus into that issue in the coming days ahead, here in the journal. Stay focused.....
Wed Oct 23 Trades & Journal
20131023
Long 1 NQ 3341.5, +4
Short 1 NQ 3348.25, +3.0
Long 1 NQ 3337.5, -0.5
Short 1 NQ 3334.5, +4.0
Short 2 TF 1008.5, 1008.6, -0.5, +0.5
Short 2 NQ 3339.75, 3339.75, +2.0, +3.0
Short 1 TF 1007.4, +1.2
Short 2 NQ 3327.75, 3327.75, +2.0, +4.75
Total NQ +22.25
Total TF +1.2
Sometimes buy signal in one contract can come at the same time as a sell signal arrives in another. In Serial Sequent rules, the outcome can depend on which, if either, is also a stp-n-rev signal when if the raw turn signal fails. This inflection only occurs at certain junctures. You have to think fast on your feet. Today, I succeeded in going with the NQ stp n rev short signal while the TF was flashing an intial buy. I managed to bite my tongue just a minute delay in the TF buy signal to stay with the NQ short. That worked for an initial NQ short profit, but I also lost focus of the TF exhaustion zone reversal, and before I knew it, TF had reversed so sharply that it was too far to chase. But signals in the NQ continued to appear, so just stayed with it, till something clearer in the TF showed its face. Trading requires tremendous focus. Any off balance to one's mental state can affect your game tremendously. If there are other, outside issues influencing your morning, don't trade. Walk away from the screen. It doesn't matter what the numbers are tomorrow. Tomorrow is the same day, but will just different numbers. You won't miss a thing. Stay disciplined.
Long 1 NQ 3341.5, +4
Short 1 NQ 3348.25, +3.0
Long 1 NQ 3337.5, -0.5
Short 1 NQ 3334.5, +4.0
Short 2 TF 1008.5, 1008.6, -0.5, +0.5
Short 2 NQ 3339.75, 3339.75, +2.0, +3.0
Short 1 TF 1007.4, +1.2
Short 2 NQ 3327.75, 3327.75, +2.0, +4.75
Total NQ +22.25
Total TF +1.2
Sometimes buy signal in one contract can come at the same time as a sell signal arrives in another. In Serial Sequent rules, the outcome can depend on which, if either, is also a stp-n-rev signal when if the raw turn signal fails. This inflection only occurs at certain junctures. You have to think fast on your feet. Today, I succeeded in going with the NQ stp n rev short signal while the TF was flashing an intial buy. I managed to bite my tongue just a minute delay in the TF buy signal to stay with the NQ short. That worked for an initial NQ short profit, but I also lost focus of the TF exhaustion zone reversal, and before I knew it, TF had reversed so sharply that it was too far to chase. But signals in the NQ continued to appear, so just stayed with it, till something clearer in the TF showed its face. Trading requires tremendous focus. Any off balance to one's mental state can affect your game tremendously. If there are other, outside issues influencing your morning, don't trade. Walk away from the screen. It doesn't matter what the numbers are tomorrow. Tomorrow is the same day, but will just different numbers. You won't miss a thing. Stay disciplined.
Tues Oct 22 Trades & Journal
20131022
Short 1 YM 15368, -10
Short 2 TF 1117.4, 1117.5, -0.5, -1.2
Short 4 TF 1118.6, 1118.6, 1118.5, 1118.6, +0.4, -0.6, +0.7, -0.4
Short 1 ES 1750.0, -1.75
Short 2 TF 1119.0, 1118.9, -0.7, +0.5
Short 3 TF 1120.1, 1120.0, 1120.2, +2.7, +1.2, +0.7
Long 1 TF 1115.1, -0.2
Long 2 TF 1113.9, 1113.9, +0.5, -0.5
Short 2 TF 1113.5, 1113.5, -0.2, -0.7
Short 1 TF 1113.7, +1.4
PM trades
Short 2 TF 1113.8, 1113.7, +0.9, +0.7
Total ES -1.75
Total YM -10
Total TF +4.6
Large extensions in both directions can be challenging. A second set of sell signals kept me in the game, and were definitely fit Trade Models from the plan. But once the selling got started, didn't get a chance to re enter after taking profits. Any profit taking on shorts was too early as the drop was vertical. But hard to pass up a 3 pt profit on the 3rd contract, and would usually be a foolish move, as such a fast drop not easy to anticipate. Early exits come from playing catch up to initial losses. But it's important not to let winners that restore health go untaken. There are always more trades..... Stay focused.
Addendum:
Price and pattern reached good short entry level for an Trade Entry Model short, but I dumped the potential runner too quickly thinking, just as I had done at the AM highs, that I'd get another immediate retest to re-short with. Entries, as tough as they were today, are still far easier than exits, and that is the area in which I most need improvement.
Short 1 YM 15368, -10
Short 2 TF 1117.4, 1117.5, -0.5, -1.2
Short 4 TF 1118.6, 1118.6, 1118.5, 1118.6, +0.4, -0.6, +0.7, -0.4
Short 1 ES 1750.0, -1.75
Short 2 TF 1119.0, 1118.9, -0.7, +0.5
Short 3 TF 1120.1, 1120.0, 1120.2, +2.7, +1.2, +0.7
Long 1 TF 1115.1, -0.2
Long 2 TF 1113.9, 1113.9, +0.5, -0.5
Short 2 TF 1113.5, 1113.5, -0.2, -0.7
Short 1 TF 1113.7, +1.4
PM trades
Short 2 TF 1113.8, 1113.7, +0.9, +0.7
Total ES -1.75
Total YM -10
Total TF +4.6
Large extensions in both directions can be challenging. A second set of sell signals kept me in the game, and were definitely fit Trade Models from the plan. But once the selling got started, didn't get a chance to re enter after taking profits. Any profit taking on shorts was too early as the drop was vertical. But hard to pass up a 3 pt profit on the 3rd contract, and would usually be a foolish move, as such a fast drop not easy to anticipate. Early exits come from playing catch up to initial losses. But it's important not to let winners that restore health go untaken. There are always more trades..... Stay focused.
Addendum:
Price and pattern reached good short entry level for an Trade Entry Model short, but I dumped the potential runner too quickly thinking, just as I had done at the AM highs, that I'd get another immediate retest to re-short with. Entries, as tough as they were today, are still far easier than exits, and that is the area in which I most need improvement.
Mon Oct 21 Trades & Journal
20131021
Long 2 YM 15305, 15306, +7, +10
Short 2 YM 15322, 15321, +7, -7
Short 1 TF 1115.0, -0.7
Short 2 YM 15334, 15334, +7, -4
Short 1 TF 1115.4, 1115.7, +.7, +1.5
Short 2 YM 15343, 15343, +7, +10
Short 2 YM 15329, 15329, +7, +14
Short 1 YM 15308, -6
Short 2 TF 1110.8, 1110.9, -0.0, -0.3
Total YM +52
Total TF +1.2
Breakdown trades continue to be tricky. I chose the YM because it had been the weaker up the point where breakdown levels were being reached by the TF and YM. But the TF took over bear leadership signals just a few minutes prior to that, and I ignored it. I missed the good bear trade because I had been slow to the signs of change in structure. The market is seldom logical, but it is always fair. Stay alert. Stay focused.
Long 2 YM 15305, 15306, +7, +10
Short 2 YM 15322, 15321, +7, -7
Short 1 TF 1115.0, -0.7
Short 2 YM 15334, 15334, +7, -4
Short 1 TF 1115.4, 1115.7, +.7, +1.5
Short 2 YM 15343, 15343, +7, +10
Short 2 YM 15329, 15329, +7, +14
Short 1 YM 15308, -6
Short 2 TF 1110.8, 1110.9, -0.0, -0.3
Total YM +52
Total TF +1.2
Breakdown trades continue to be tricky. I chose the YM because it had been the weaker up the point where breakdown levels were being reached by the TF and YM. But the TF took over bear leadership signals just a few minutes prior to that, and I ignored it. I missed the good bear trade because I had been slow to the signs of change in structure. The market is seldom logical, but it is always fair. Stay alert. Stay focused.
Fri Oct 18 Trades & Journal
20131018
Short 1 TF 1106.6, +1.0
Short 2 TF 1106.3, 1106.9, -1.1, -.5
Short 3 YM 15318, 15318, 15316, +7, -5, -6
Short 1 TF 1108.1, -0.9
Short 2 TF 1108.6, 1108.5, +2.1, +0.5
Short 2 YM 15318, 15318, +7, +15
Short 1 TF 1105.9, -0.2
Short 1 TF 1105.6, +1.0
Short 1 TF 1105.4, -0.6
Short 2 YM 15292, 15292, -4, -4
Short 1 TF 1106.0, -0.3
Short 2 YM 15291, 15291, -3, -3
Short 1 TF 1106.2, -0.2
Short 1 TF 1107.4, +1.0
Total YM +4
Total TF +1.8
Turning points are not always clean. Take note of extreme divergence as we saw today in a much weaker YM to NQ's relative strength. The TF can get caught in the middle, and as a result, there's a lot of whiplash at the turns. Stepping back into a trade once stopped out is ok if the signal is still there, and the whiplash can be seen as nothing but stop-threatening noise at the turns. But you also have budget limitations to obey in your plan, both to amount of risk and to number of trades. Stick with your Trade Plan. ....and enjoy your weekend...!!
Short 1 TF 1106.6, +1.0
Short 2 TF 1106.3, 1106.9, -1.1, -.5
Short 3 YM 15318, 15318, 15316, +7, -5, -6
Short 1 TF 1108.1, -0.9
Short 2 TF 1108.6, 1108.5, +2.1, +0.5
Short 2 YM 15318, 15318, +7, +15
Short 1 TF 1105.9, -0.2
Short 1 TF 1105.6, +1.0
Short 1 TF 1105.4, -0.6
Short 2 YM 15292, 15292, -4, -4
Short 1 TF 1106.0, -0.3
Short 2 YM 15291, 15291, -3, -3
Short 1 TF 1106.2, -0.2
Short 1 TF 1107.4, +1.0
Total YM +4
Total TF +1.8
Turning points are not always clean. Take note of extreme divergence as we saw today in a much weaker YM to NQ's relative strength. The TF can get caught in the middle, and as a result, there's a lot of whiplash at the turns. Stepping back into a trade once stopped out is ok if the signal is still there, and the whiplash can be seen as nothing but stop-threatening noise at the turns. But you also have budget limitations to obey in your plan, both to amount of risk and to number of trades. Stick with your Trade Plan. ....and enjoy your weekend...!!
Thur Oct 17 Trades & Journal
20131017
Short 2 YM 15219, 15220, +7, +10
Short 2 TF 1089.8, 1089.8, +1.0, +1.5
Long 2 YM 15202, 15202, +7, +15
Short 2 TF 1091.7, 1091.6, -0.2, +0.2
Total YM +39
Total TF +2.5
Most days, am grateful that breakout trades taken with such strict filters. Today was for fading new HOD's and buying the pullbacks. Those came well within Trade Plan guidelines. Stick to your Plan!
Short 2 YM 15219, 15220, +7, +10
Short 2 TF 1089.8, 1089.8, +1.0, +1.5
Long 2 YM 15202, 15202, +7, +15
Short 2 TF 1091.7, 1091.6, -0.2, +0.2
Total YM +39
Total TF +2.5
Most days, am grateful that breakout trades taken with such strict filters. Today was for fading new HOD's and buying the pullbacks. Those came well within Trade Plan guidelines. Stick to your Plan!
Wed Oct 16 Trades & Journal
20131016
Short 2 YM 15251 15249, -3, -5
Short 1 TF 1087.4, -1.4
Short 1 TF 1089.6, -1.4
Short 3 TF 1090.2, 1090.2, 1090.5, +2.0, +1.1, +1.0
Long 1 TF 1088.0, +1.2
Long 2 TF 1087.4, 1087.2, +1.2, +0.5
Total YM -8
Total TF +4.2
Breakout players have been well rewarded lately with all the bull impulse moves. Normally, these only appear a few times a month, and the rest is swing time. But these are appearing back to back and such things in the markets cause a feeling of being left out. The rest of the time, breakout players can get whacked so easily, as breakouts are prone to fail on far more days in a month--normally--than do succeed. In any case, our Trade Plan got us into sync quickly with the big swings that appeared in the TF after a 2nd exhaustion signal. We remain a student of the market, and as such, continue to examine breakout triggers in detail. The Plan is always open for improvement, but never to chase an idea that worked recently but fails most of the time. We'll continue to look at structure for breakout triggers rather than pure price, and believe the best breakout techniques are yet to be developed into Technical Event Models. Stay tuned.... and stay disciplined. !!
Short 2 YM 15251 15249, -3, -5
Short 1 TF 1087.4, -1.4
Short 1 TF 1089.6, -1.4
Short 3 TF 1090.2, 1090.2, 1090.5, +2.0, +1.1, +1.0
Long 1 TF 1088.0, +1.2
Long 2 TF 1087.4, 1087.2, +1.2, +0.5
Total YM -8
Total TF +4.2
Breakout players have been well rewarded lately with all the bull impulse moves. Normally, these only appear a few times a month, and the rest is swing time. But these are appearing back to back and such things in the markets cause a feeling of being left out. The rest of the time, breakout players can get whacked so easily, as breakouts are prone to fail on far more days in a month--normally--than do succeed. In any case, our Trade Plan got us into sync quickly with the big swings that appeared in the TF after a 2nd exhaustion signal. We remain a student of the market, and as such, continue to examine breakout triggers in detail. The Plan is always open for improvement, but never to chase an idea that worked recently but fails most of the time. We'll continue to look at structure for breakout triggers rather than pure price, and believe the best breakout techniques are yet to be developed into Technical Event Models. Stay tuned.... and stay disciplined. !!
Tues Oct 15 Trades & Journal
20131015
Long 1 YM 15163, -10
Long 2 NQ 3241.5, 3241.5, +2.0, +5.0
Short 2 YM 15174, 15174, -6, -6
Short 2 TF 1083.7, 1083.4, -0.5, -0.2
Short 2 TF 1083.5, 1083.5, +0.7, -0.7
Long 2 NQ 3253.0, 3253.0, -1.0, -1.0
Short 2 TF 1084.5, 1084.8, -0.1, +1.4
Long 3 TF 1085.2, 1084.5, 1084.8, -0.0, +1.2, +0.7
Short 2 TF 1085.9, 1085.9, -0.3, +1.2
Long 1 TF 1081.2, +1.0
Total YM -22
Total NQ -2.0
Total TF+4.4
A leadership struggle means that long and short signals can come nearly on top of each other, and in the opposing trend directions. One of those leaders, however, is usually proven wrong right from the outset. Today, both were proven right, but at differing times, as if they were politely punting the ball back after 4 or more downs if unsuccessful in moving the chains the required 10 yards, or after having scored a touch down to new highs or lows. Whatever... it only makes the trades come a bit faster and requires keeping the overall trend prejudice to a squat nothing. Other than that... a walk in the park. Stay with your Plan. Your Trade Plan will keep the losses small and bring you back into sync, assuming the entry models you're using within your Plan work far more than they fail.
Long 1 YM 15163, -10
Long 2 NQ 3241.5, 3241.5, +2.0, +5.0
Short 2 YM 15174, 15174, -6, -6
Short 2 TF 1083.7, 1083.4, -0.5, -0.2
Short 2 TF 1083.5, 1083.5, +0.7, -0.7
Long 2 NQ 3253.0, 3253.0, -1.0, -1.0
Short 2 TF 1084.5, 1084.8, -0.1, +1.4
Long 3 TF 1085.2, 1084.5, 1084.8, -0.0, +1.2, +0.7
Short 2 TF 1085.9, 1085.9, -0.3, +1.2
Long 1 TF 1081.2, +1.0
Total YM -22
Total NQ -2.0
Total TF+4.4
A leadership struggle means that long and short signals can come nearly on top of each other, and in the opposing trend directions. One of those leaders, however, is usually proven wrong right from the outset. Today, both were proven right, but at differing times, as if they were politely punting the ball back after 4 or more downs if unsuccessful in moving the chains the required 10 yards, or after having scored a touch down to new highs or lows. Whatever... it only makes the trades come a bit faster and requires keeping the overall trend prejudice to a squat nothing. Other than that... a walk in the park. Stay with your Plan. Your Trade Plan will keep the losses small and bring you back into sync, assuming the entry models you're using within your Plan work far more than they fail.
Mon Oct 14 Trade Summary
20131014
Long 2 TF 1076.0, 1076.0, +0.4, -0.1
Long 1 TF 1075.2, -0.2
Long 1 TF 1075.2, +1.4
Total TF +1.5
Long 2 TF 1076.0, 1076.0, +0.4, -0.1
Long 1 TF 1075.2, -0.2
Long 1 TF 1075.2, +1.4
Total TF +1.5
Fri Oct 11 Trades & Journal
Trade Summary
20131011
Short 1 NQ 3203.75, -1.0
Short 1 ES 1686.75, -1.0
Short 2 TF 1068.0, 1068.0, +0.5, +1.5
Short 1 NQ 3209.75, -2.0
Short 2 TF 1069.6, 1069.7, +0.4, +1.0
Short 2 TF 1070.4, 1070.5, +1.4, +0.4
Total NQ -3.0
Total ES -1.0
Total TF +5.2
Two Persistent Trend Days Up in row is very rare without some strong reversal action. So kept to the short side on resistances, and initial pullbacks were profitable. But no serious corrective selling appeared on pullbacks, except for large pullback in the YM, which I was not in. On the one hand, there's 'being right'. On the other, there's making a profit. Never confuse the two. Trade from Technical Entry Models. Define them into a Plan. Trade the Plan not your opinions. ...a good weekend to all...
20131011
Short 1 NQ 3203.75, -1.0
Short 1 ES 1686.75, -1.0
Short 2 TF 1068.0, 1068.0, +0.5, +1.5
Short 1 NQ 3209.75, -2.0
Short 2 TF 1069.6, 1069.7, +0.4, +1.0
Short 2 TF 1070.4, 1070.5, +1.4, +0.4
Total NQ -3.0
Total ES -1.0
Total TF +5.2
Two Persistent Trend Days Up in row is very rare without some strong reversal action. So kept to the short side on resistances, and initial pullbacks were profitable. But no serious corrective selling appeared on pullbacks, except for large pullback in the YM, which I was not in. On the one hand, there's 'being right'. On the other, there's making a profit. Never confuse the two. Trade from Technical Entry Models. Define them into a Plan. Trade the Plan not your opinions. ...a good weekend to all...
Thurs Oct 10 Trades & Journal
20131010
Short 2 TF 1058.1, 1058.1, +.5, -0.5
Short 2 ES 1673.25, 1673.25, -1.25, -1.25
Short 2 YM 14917, 14919, +7, +10
Long 2 NQ 3178.75, 3178.25, +3.0, +2.0
Short 1 TF 1060.7, -0.3
Short 1 ES 1076.0, -0.0
Short 2 NQ 3189.5, 3189.5, +2.0, +5.0
Long 1 TF 1059.1, -0.3
Long 2 TF 1059.0, 1058.6, -0.0, +0.5
Long 1 TF 1058.0, +1.0
Total ES -2.5
Total YM +17
Total NQ +12
Total TF +0.9
Each day his its own challenges, and very large gap openings have theirs. but if you have patience, and it's not a grinding Persistent Trend, pullbacks will usually come, and with them the opportunities it takes to participate. Stay focused. Stick with your Trade Plan. There are lots of trades outside your current Trade Plan. And when they have merit, they can still be monitored as you stick to those you know and trust. Always be a student. Trade Plans should evolve slowly, and not with an idea you picked up just the other day. You have plenty of time to watch what you are still learning and observing. When you see it work for a few hundred times, then consider moving it into your Plan, but not until.
Short 2 TF 1058.1, 1058.1, +.5, -0.5
Short 2 ES 1673.25, 1673.25, -1.25, -1.25
Short 2 YM 14917, 14919, +7, +10
Long 2 NQ 3178.75, 3178.25, +3.0, +2.0
Short 1 TF 1060.7, -0.3
Short 1 ES 1076.0, -0.0
Short 2 NQ 3189.5, 3189.5, +2.0, +5.0
Long 1 TF 1059.1, -0.3
Long 2 TF 1059.0, 1058.6, -0.0, +0.5
Long 1 TF 1058.0, +1.0
Total ES -2.5
Total YM +17
Total NQ +12
Total TF +0.9
Each day his its own challenges, and very large gap openings have theirs. but if you have patience, and it's not a grinding Persistent Trend, pullbacks will usually come, and with them the opportunities it takes to participate. Stay focused. Stick with your Trade Plan. There are lots of trades outside your current Trade Plan. And when they have merit, they can still be monitored as you stick to those you know and trust. Always be a student. Trade Plans should evolve slowly, and not with an idea you picked up just the other day. You have plenty of time to watch what you are still learning and observing. When you see it work for a few hundred times, then consider moving it into your Plan, but not until.
Wed Oct 9 Trades & Journal
Trade Summary
20131009
Long 2 TF 1042.8, 1043.0, -0.5, +0.5
Short 2 YM 14717, 14720, +10, +5
Short 2 TF 1042.8, 1043.1, +0.7, +1.5
Long 1 TF 1038.7, +1.5
Total YM +15
Total TF +3.7
Two Persistent Trend Days Down in a row are very rare, and so reversal action at lower lows fit the trading plan well for buy opps. Big swings tend to offer much better opps than vertical moves, unless of course you can catch the right breakout triggers into those vertical moves. Since so many breakouts get whipped right out of the positions quickly, the filters for breakouts are of necessity more demanding, and must eliminate the majority of potential breakout triggers from a Trade Plan. Yesterday's breakdown after the 1st Frame did offer such a trigger, but I was asleep at the switch, and should have made my last buy attempt in TF at the then current 1st hour low into a stp-n-rev short. Since the right breakout triggers are fewer and farther in between, it's easier to let the discipline necessary to stay alert for them begin to slide. Stay focused.
20131009
Long 2 TF 1042.8, 1043.0, -0.5, +0.5
Short 2 YM 14717, 14720, +10, +5
Short 2 TF 1042.8, 1043.1, +0.7, +1.5
Long 1 TF 1038.7, +1.5
Total YM +15
Total TF +3.7
Two Persistent Trend Days Down in a row are very rare, and so reversal action at lower lows fit the trading plan well for buy opps. Big swings tend to offer much better opps than vertical moves, unless of course you can catch the right breakout triggers into those vertical moves. Since so many breakouts get whipped right out of the positions quickly, the filters for breakouts are of necessity more demanding, and must eliminate the majority of potential breakout triggers from a Trade Plan. Yesterday's breakdown after the 1st Frame did offer such a trigger, but I was asleep at the switch, and should have made my last buy attempt in TF at the then current 1st hour low into a stp-n-rev short. Since the right breakout triggers are fewer and farther in between, it's easier to let the discipline necessary to stay alert for them begin to slide. Stay focused.
Tues Oct 8 Trades & Journal
Trade Summary
20131008
Short 2 YM 14843, 14846, -5, -10
Short 3 YM 14853, 14853, 14852, +10, +12, +5
Long 2 YM 14861, 14861, -0, -5
Long 2 YM 14848, 14844, -8, +7
Long 2 YM 14842, 14840, -7, +7
Long 2 YM 14837, 14838, -5, -5
Long 2 YM 14836, 14837, -7, -6
Long 1 YM 14834, +20
Long 3 TF 1063.5, 1062.8, 1062.7, -1.0, -0.5, -0.4
Long 2 TF 1062.0, 1061.6, -0.1, -0.6
Long 2 TF 1061.2, 1061.3, -0.5, -0.5
Long 2 TF 1060.9, 1061.1, -0.4, -0.5
Long 2 TF 1055.5, 1055.3, -0.8, -0.5
Total YM +3
Total TF -5.8
TF relative strength was cue for the repeated buy attempts, but the real failure to caplitalize on the breakdown was lack of attention to very subtle TF pre-breakdown trigger. 1st Frame coils tend to lead to Midday Trends, and if you miss the door, price can get away from you quickly. And nothing hurts worse than big breakout profits you miss. Feels far worse even that losing trades. The overall 1st Frame coil and its subsequent breakdown deserves close study. Learn from your mistakes. Mine were pretty obvious today. But I'll be back tomorrow.....
20131008
Short 2 YM 14843, 14846, -5, -10
Short 3 YM 14853, 14853, 14852, +10, +12, +5
Long 2 YM 14861, 14861, -0, -5
Long 2 YM 14848, 14844, -8, +7
Long 2 YM 14842, 14840, -7, +7
Long 2 YM 14837, 14838, -5, -5
Long 2 YM 14836, 14837, -7, -6
Long 1 YM 14834, +20
Long 3 TF 1063.5, 1062.8, 1062.7, -1.0, -0.5, -0.4
Long 2 TF 1062.0, 1061.6, -0.1, -0.6
Long 2 TF 1061.2, 1061.3, -0.5, -0.5
Long 2 TF 1060.9, 1061.1, -0.4, -0.5
Long 2 TF 1055.5, 1055.3, -0.8, -0.5
Total YM +3
Total TF -5.8
TF relative strength was cue for the repeated buy attempts, but the real failure to caplitalize on the breakdown was lack of attention to very subtle TF pre-breakdown trigger. 1st Frame coils tend to lead to Midday Trends, and if you miss the door, price can get away from you quickly. And nothing hurts worse than big breakout profits you miss. Feels far worse even that losing trades. The overall 1st Frame coil and its subsequent breakdown deserves close study. Learn from your mistakes. Mine were pretty obvious today. But I'll be back tomorrow.....
Mon Oct 7 Trades & Journal
Trade Summary
20131007
Short 2 TF 1067.0, 1067.2, -1.4, -1.4
Short 3 TF 1068.2, 1068.3, 1068.3, +2.0, +1.0, +1.0
Short 3 TF 1065.1, 1065.5, 1065.6, -0.0, -0.6, -0.4
Short 1 NQ 3226.5, -2.0
Short 3 TF 1067.3, 1067.4, 1067.2, -0.0, +0.7, -0.0
Short 3 YM 14924, 15923, 15921, +7, +20, +7
Short 3 TF 1070.0, 1070.8, 1070.9, -0.2, +1.7, +1.0
Total NQ -2.0
Total YM +34
Total TF +3.4
Trading can be a lot like boxing. You take a few hits to the face sometimes in order that you find your opponent has created an opening. Today's TF extra volatility spikes at the sell levels did just that. The first one hit me so hard it blew through default stp's on both contracts, but although a bit dazed, could see that it had simply pushed all the way to the next resistance level while still in the same signal zone. Volatility is something to be treasured, not feared. But without a methodology to interpret market structure, it can really chew you up quickly. But after being stp'd out, if the signal is still there, then re entering the trade from a flat position can be the best solution to a losing trade, and the shortest distance back to being in sync. This takes three things to accomplish. 1.), A methodology to identify structural fruition and trend pivots before they have arrived. 2.), A trade plan to accommodate this methodology and give structure to one's behavior. and 3.), self discipline to stick to the plan when emotions tell you otherwise.
20131007
Short 2 TF 1067.0, 1067.2, -1.4, -1.4
Short 3 TF 1068.2, 1068.3, 1068.3, +2.0, +1.0, +1.0
Short 3 TF 1065.1, 1065.5, 1065.6, -0.0, -0.6, -0.4
Short 1 NQ 3226.5, -2.0
Short 3 TF 1067.3, 1067.4, 1067.2, -0.0, +0.7, -0.0
Short 3 YM 14924, 15923, 15921, +7, +20, +7
Short 3 TF 1070.0, 1070.8, 1070.9, -0.2, +1.7, +1.0
Total NQ -2.0
Total YM +34
Total TF +3.4
Trading can be a lot like boxing. You take a few hits to the face sometimes in order that you find your opponent has created an opening. Today's TF extra volatility spikes at the sell levels did just that. The first one hit me so hard it blew through default stp's on both contracts, but although a bit dazed, could see that it had simply pushed all the way to the next resistance level while still in the same signal zone. Volatility is something to be treasured, not feared. But without a methodology to interpret market structure, it can really chew you up quickly. But after being stp'd out, if the signal is still there, then re entering the trade from a flat position can be the best solution to a losing trade, and the shortest distance back to being in sync. This takes three things to accomplish. 1.), A methodology to identify structural fruition and trend pivots before they have arrived. 2.), A trade plan to accommodate this methodology and give structure to one's behavior. and 3.), self discipline to stick to the plan when emotions tell you otherwise.
Fri Oct 4 Trades & Journal
Trade Summary
20131004
Short 2 YM 14936, 14936, -7, -7
Short 3 TF 1071.8, 1071.8, 1072.3, -0.7, -0.7, -0.3
Short 2 TF 1072.5, 1072.5, -0.5, -0,5
Short 4 YM 14951, 14951, 14951, 14950, +7, +10, +10, -0
Short 2 TF 1072.7, 1072.7, +0.7, +1.0
Short 3 YM 14952, 14951, 14951, -3, +7, -2
Short 2 TF 1072.5, 1072.6, +1.2, +0.4
Long 2 NQ 3220.75, 3221.0, -1.0, -1.25
Long 1 TF 1072.4, +1.2
Total YM +13
Total NQ -2.25
Total TF +1.8
Failed to take a critical stp n rev in YM today, and so failed to participate in the upside glory. Otherwise, stuck to the trading plan pretty close. Since the Trade Plan has some strict criteria for taking breakouts, I also missed a piece of the TF on the long side, but am not willing to change that plan criteria to accomodate that type of breakout yet. Am always looking for better refinement in the filters for taking breakouts, as the successful ones are so rewarding. But in general, the filter set also keeps me out of a lot of failing breakouts and losses. Wishing all a good weekend.
20131004
Short 2 YM 14936, 14936, -7, -7
Short 3 TF 1071.8, 1071.8, 1072.3, -0.7, -0.7, -0.3
Short 2 TF 1072.5, 1072.5, -0.5, -0,5
Short 4 YM 14951, 14951, 14951, 14950, +7, +10, +10, -0
Short 2 TF 1072.7, 1072.7, +0.7, +1.0
Short 3 YM 14952, 14951, 14951, -3, +7, -2
Short 2 TF 1072.5, 1072.6, +1.2, +0.4
Long 2 NQ 3220.75, 3221.0, -1.0, -1.25
Long 1 TF 1072.4, +1.2
Total YM +13
Total NQ -2.25
Total TF +1.8
Failed to take a critical stp n rev in YM today, and so failed to participate in the upside glory. Otherwise, stuck to the trading plan pretty close. Since the Trade Plan has some strict criteria for taking breakouts, I also missed a piece of the TF on the long side, but am not willing to change that plan criteria to accomodate that type of breakout yet. Am always looking for better refinement in the filters for taking breakouts, as the successful ones are so rewarding. But in general, the filter set also keeps me out of a lot of failing breakouts and losses. Wishing all a good weekend.
Thurs Oct 3 Trades & Journal
Trade Summary
20131003
Long 2 YM 14969, 14969, -10, -10
Long 2 TF 1071.1, 1071.2, +0.5, -0.7
Long 2 NQ 3225.75, 3226.25, +2.0, -0.25
Long 2 YM 14946, 14946, +5, +15
Long 2 TF 1065.1, 1065.0, +1.1, +0.7
Long 2 TF 1065.1, 1064.7, -0.2, +1.6
Long 1 TF 1064.7, +1.2
PM Trades:
Long 2 TF 1064.9, 1064.7, +2.0, +0.5
Total YM -0
Total NQ +1.75
Total TF +6.7
Although Serial Sequent Method allows for stp n rev at potential reversal levels, my Trade Plan filters those out when in the first trend direction of the day. On days when initial trend is vertical plummet, like today, that filter prevents me from participating in a big initial move. These big vertical moves have a lasting impression on the trader's psyche. He wants to for this action every day. But these days are not the norm. Test-n-Reject and swing reversals are greater percentage of Day Models. Thankfully, today's big initial trend had some great reversals and pullbacks and key Grid levels, so missing the short side initially did not preclude finding other opportunities. Stay focused. When Momentum, Wave Structure, Time Markers and Price Grid collide at the same time, there is little time for hesitation. These often come at the most emotionally challenging moments. Stay disciplined.
20131003
Long 2 YM 14969, 14969, -10, -10
Long 2 TF 1071.1, 1071.2, +0.5, -0.7
Long 2 NQ 3225.75, 3226.25, +2.0, -0.25
Long 2 YM 14946, 14946, +5, +15
Long 2 TF 1065.1, 1065.0, +1.1, +0.7
Long 2 TF 1065.1, 1064.7, -0.2, +1.6
Long 1 TF 1064.7, +1.2
PM Trades:
Long 2 TF 1064.9, 1064.7, +2.0, +0.5
Total YM -0
Total NQ +1.75
Total TF +6.7
Although Serial Sequent Method allows for stp n rev at potential reversal levels, my Trade Plan filters those out when in the first trend direction of the day. On days when initial trend is vertical plummet, like today, that filter prevents me from participating in a big initial move. These big vertical moves have a lasting impression on the trader's psyche. He wants to for this action every day. But these days are not the norm. Test-n-Reject and swing reversals are greater percentage of Day Models. Thankfully, today's big initial trend had some great reversals and pullbacks and key Grid levels, so missing the short side initially did not preclude finding other opportunities. Stay focused. When Momentum, Wave Structure, Time Markers and Price Grid collide at the same time, there is little time for hesitation. These often come at the most emotionally challenging moments. Stay disciplined.
Tues Oct 2 Trades & Journal
20131002
Long 3 TF 1074.3, 1074.2, 1073.8, +0.5, +0.7, +1.0
Total TF +2.2
Don't trade when you haven't had a good nights sleep. You're going to be worthless....or worse. Today, I got lucky. The mistakes I made were in missing several trade entry signals because I hesitated too long. ...and the market seemed about as tired as I was .... your health is an integral part of your success as a trader. Take care of it...
Long 3 TF 1074.3, 1074.2, 1073.8, +0.5, +0.7, +1.0
Total TF +2.2
Don't trade when you haven't had a good nights sleep. You're going to be worthless....or worse. Today, I got lucky. The mistakes I made were in missing several trade entry signals because I hesitated too long. ...and the market seemed about as tired as I was .... your health is an integral part of your success as a trader. Take care of it...
Tues Oct 1 Trades & Journal
20131001
Short 2 TF 1075.7, 1075.8, -0.5, -0.4
Short 2 TF 1076.7, 1077.0, +1.0, +1.0
Long 1 TF 1074.0, +1.3
Short 1 TF 1077.5, +0.8
Long 1 TF 1075.0, -0.5
Short 2 TF 1076.8, 1076.7, -0.3, -0.5
Short 2 TF 1077.7, 1077.5, -0.4, +0.3
Short 3 TF 1077.7, 1077.7, 1077.7, +0.7, +0.5, -0.2
Long 2 TF 1078.7, 1078.7, +0.1, +0.9
Total TF +3.8
Bull trends usually have pullbacks. Today's early pullbacks, like yesterday's, came after the initial short signal in the NQ and ES, and required some focus apart from the TF. This time, the TF was also flashing a buy signal just a minute or so in front of the 10:00am econ reports. That provided the perfect background, so long as a premium accrued before the last 15 secs of the countdown. A 2nd unit would have been required to see the position through to the new HOD, and whether to take a 2nd is often left to an appraisal of conditions rather than a strict rule of the Trade Plan. ...or this simply might be a weakness in self discipline. That aspect has always been a point of interest in Trade Plan development, but so far, I've come to no solution. Since I favor taking a 2nd unit as price forms a base or a top against some predetermined support / exhaustion number, getting a 2nd is much harder if price vacates that area on price rejection quickly, without a bit of bouncing around. ...food for more thought...
Short 2 TF 1075.7, 1075.8, -0.5, -0.4
Short 2 TF 1076.7, 1077.0, +1.0, +1.0
Long 1 TF 1074.0, +1.3
Short 1 TF 1077.5, +0.8
Long 1 TF 1075.0, -0.5
Short 2 TF 1076.8, 1076.7, -0.3, -0.5
Short 2 TF 1077.7, 1077.5, -0.4, +0.3
Short 3 TF 1077.7, 1077.7, 1077.7, +0.7, +0.5, -0.2
Long 2 TF 1078.7, 1078.7, +0.1, +0.9
Total TF +3.8
Bull trends usually have pullbacks. Today's early pullbacks, like yesterday's, came after the initial short signal in the NQ and ES, and required some focus apart from the TF. This time, the TF was also flashing a buy signal just a minute or so in front of the 10:00am econ reports. That provided the perfect background, so long as a premium accrued before the last 15 secs of the countdown. A 2nd unit would have been required to see the position through to the new HOD, and whether to take a 2nd is often left to an appraisal of conditions rather than a strict rule of the Trade Plan. ...or this simply might be a weakness in self discipline. That aspect has always been a point of interest in Trade Plan development, but so far, I've come to no solution. Since I favor taking a 2nd unit as price forms a base or a top against some predetermined support / exhaustion number, getting a 2nd is much harder if price vacates that area on price rejection quickly, without a bit of bouncing around. ...food for more thought...
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