20131212
Long 1 TF 1103.0, -0.5
Long 2 TF 1102.1, 1101.9, -0.0, +0.7
Short 1 TF 1101.5, +1.0
Long 2 TF 1199.5, 1199.7, +1.8, +0.7
Long 2 YM 15769, 15766, +7, +20
Short 2 TF 1102.0, 1101.5, +0.7, -0.2
Long 2 YM 15757, 15753, -0, -7
Long 2 TF 1199.6, 1199.5, -0.7, -0.7
Long 2 TF 1199.0, 1199.0, +1.1, +1.5
Long 1 TF 1102.2, +1.1
Total YM +20
Total TF +6.5
Missed the same initial in-trend breakdown trade today as I did yesterday, and today it became apparent to me why. I was so exclusively focused on the TF contract in the early going,that I missed the YM setup altogether. Later I missed a decent breakout trade in the TF that was also 'in-plan', and one that several students caught. What causes the balking at inflection breakout levels is the sense of action I pick up regarding price proximity to the critical level. If it looks choppy, I duck the breakout trade. But observation teaches that the right inflection levels seem to overcome the action that was choppy just minutes before, and can produce a clean, impulsive breakout altogether different in action than that just preceding it. Have a plan, stick with the plan. Don't worry about what it might do. The Trade Entry Model is either right or it's not. No shoulda-coulda allowed. If the breakout trade is failing enough to really warrant trepidation, then it has no business in being in the plan anyway.
