20131213
Long 1 NQ 3458.25, +4.0
Long 2 NQ 3455.25, 3455.0, +4.5, +2.0
Short 1 TF 1102.5, -0.2
Long 2 TF 1099.0, 1099.2, +0.7, +0.7
Long 2 YM 15661, 15661, +7, +20
Short 1 TF 1100.8, +0.9
Short 1 TF 1100.5, +1.2
Total NQ +10.5
Total YM +27
Total TF +3.3
Sometimes the contract of choice for us, the mini Russell TF, reverses before actually reaching the next support or resistance or exhaustion number it is approaching on the Pivot / Exhaustion Grid. As a trader, you have choices. You can chase a fill as the market sometimes quickly vacates the buy zone without the preferred price, and accept a price higher up with greater stop-loss risk, and reduced target opportunities; you can skip the trade altogether; or--and this is what I did with the initial long trade opportunity today, you can grab a different contract that might also be offering the same signal but was slower to respond to the turn. Such was the case with the initial NQ long. And I had to chase this a bit further than wanted even to catch it. Such is trading. It's an imperfect world with imperfect methods and a seriously flawed operator who requires his full focus and discipline sometimes just to stay in the game. Stay disciplined. Stick to your Trade Plan. It won't catch every opportunity, and even those it calls correctly will occasionally pass you by on operator error. Wishing all a great weekend.....
