20131211
Long 2 TF 1114.4, 1114.4, -0.7, -0.7
Long 3 YM 15913, 15913, 15914, +20, +20, +7
Long 1 NQ 3597.25, +3.0
Short 1 NQ 3502.75, +3.0
Long 1 TF 1108.5, 1109.0, -0.0, +0.7
Long 1 TF 1108.2, +1.5
Long 1 TF 1108.9, -0.5
Long 1 TF 1109.5, -0.2
Short 2 TF 1107.7, 1107.6, +1.2, +0.4
PM Trades:
Short 1 TF 1105.8, +1.2
Short 1 YM 15908, +20
Total YM +67
Total NQ +6.0
Total TF +2.8
Missed an important inflection breakdown trade today that would have allowed participation in the initial slap down decline. And as a consequence, was left counter trend trading until a signal for the 2nd leg breakdown came, in which I participated modestly. On potential Persistent Trend Days, often the day's quota comes from a single opportunity, and thereafter opportunities can get much harder to find. But all-in-all, the Trade Plan did at least keep me in the game for a decent day's profits. Will spend some time studying those early breakdown opps in the charts for awhile. Some trade entries require a bit of mental rehearsal.
Addendum:
Persistent Trend Day often offers what we call a Last Chance Texaco in-trend entry. This one seems to have come to the anticipated resistance areas, and did offer a decent profit for both a YM and TF initial position. But even after making the call to re -enter the 1-lot after an initial profit target was reached, I balked waiting for a few more ticks and missed the trade entry. That was the reason for grabbing the slower-to-react YM. A profitable day was important as yesterday's profits were only get-even with Monday's losses. And so, I tend to get careful, more interested in the consistency of day-to-day profits than taking the risks to make it a bigger hitter. Still, missing such a good trade entry with a 5 pt swing always disappoints. Stay focused.
