20131219
Long 1 TF 1129.2, -0.7
Short 1 TF 1128.6, +2.0
Long 1 NQ 3489.25, -0.5
Long 2 TF 1125.9, 1125.5, -0.7, -0.3
Long 2 TF 1124.9, 1125.0, +1.3, +0.7
Long 2 TF 1124.3, 1124.6, +1.0, +0.7
Long 3 TF 1125.1, 1125.2, 1125.0, +0.5, +0.5, +2.3
Long 2 TF 1125.8, 1125.4, +0.5, +1.2
Total NQ -0.5
Total TF +8.5
Sometimes chop can actually work in your favor, as the small breaks put food right into your hand. Today, the only visible persistence was the plethora of trade entry setups and the need to keep up with them. Kept to the rules of Pre-News positioning today as the Philly Fed 10:00am release counted down to the last minute while I held an NQ position with no profit. Therefore, I took a quick exit for fractional loss, only to see a small pop upwards that would have provided a reward, but at the expense of violating that critical rule and risking an ugly stop-out if wrong: that of never holding a pre-news position if insufficient profit cushion has developed before the actual news release time. More opportunities are always just on the horizon, and there should be no 'missing' of missed trend action, except when ignoring a true Trade Entry Model that worked out well after all. Stick with your Trade Plan. Stay focused. Be rested. Trading is not a causal thing. It requires all you can bring to the task. And if well prepared, once the Opening Bell sounds, just stay calm and wait till all your preparation tells you the model is at hand, and then strike immediately. The 'thinking' part should be over when the bell sounds. Execute the plan. Reflection time is later.
