20131119
Long 2 TF 1107.7, 1101.4, +1.2, +0.7
Short 1 TF 1107.8, -0.7
Short 2 NQ 3395.0, 3395.25, -2.0, -2.25
Short 2 TF 1110.1, 1110.1, +0.7, +1.5
Short 2 NQ 3399.25, 3395.25, +3.0, -0.5
Short 1 NQ 3395.25, +2.5
Long 1 TF 1108.0, +2.2
Long 2 NQ 3391.25, 3391.5, +2.0, +5.0
PM Trades
Long 2 TF 1097.7, 1097.1, -0.0, +1.5
Long 1 TF 1096.7, +0.9
Total NQ +7.75
Total TF +8.0
Showed the right patience for the initial long as price did eventually break below the Globex low and as per usual, hooked the breakdown shorts for a nice reversal. However, I lost patience with it initially and was too easily misled by how it lagged the YM and NQ on their more immediate strength. The TF can lag too, and a bit more patience at this turn would have caught a better piece of the initial 8 pt reversal excursion. The additional bull breakouts at the top by the TF were all faux, but cannot point to the actual filter that kept me out of them, although can claim that the YM and ES contracts did the initial leadership. I still take few breakouts, and on some days come away quite relieved that I'm so picky with them, but on others, resolve to continue refining the filters that can lead to more exacting breakout trade entry rules. Keep studying this subject. Eventually the haze will clear. Stay disciplined with the plan aspects are already well defined.
Addendum
The market teaches us market truth each day, if we will only see it, and thereby, see through its various disguises that otherwise keep the majority of traders from better success. Am reminded of the famous Heraclitus remark "Nature loves to hide." All you have to do is study the Time Markers yesterday and today and you'll discover one of its most important secrets, and a critical ingredient to any Technical Entry Model. Stay disciplined.
