20140131
Long 2 YM 15563, 15563, +7, +18
Short 2 NQ 3501.0, 3500.75, +2.0, +5.0
Short 1 NQ 3501.0, -1.5
Short 1 TF 1127.5, +1.7
Long 2 NQ 3591.5, 3591.5, +2.0, -1.5
Long 2 TF 1123.5, 1123.5, +0.5, +1.8
Long 2 NQ 3588.5, 3588.75, +4.0, +2.0
Total YM +25
Total NQ +12.0
Total TF +4.0
Trading from a Plan of precise Trade Entry Models eliminates so much of the confusion and doubt regarding the market's conditions each day. It doesn't mean you catch every trade. But it does often keep you out of poor ones and focused on those of best potential. Stay focused. ...and a good weekend to all...
Thur Jan 30 Trade Summary
20140130
Long 2 NQ 3505.5, 3505.75, +2.0, +3.75
Long 2 NQ 3502.0, 3502.25, +2.0, +2.5
Short 2 TF 1132.0, 1132.1, -0.5, +0.5
Short 1 TF 1132.2, +1.1
Short 1 TF 1132.3, -0.5,
Short 2 TF 1132.3, 1132.3, +0.5, -0.5
Short 2 TF 1132.9, 1132.9, +0.5, -0.5
Short 2 TF 1133.0, 1133.0, +0.5, +1.2
Total NQ +10.25
Total +2.3
Long 2 NQ 3505.5, 3505.75, +2.0, +3.75
Long 2 NQ 3502.0, 3502.25, +2.0, +2.5
Short 2 TF 1132.0, 1132.1, -0.5, +0.5
Short 1 TF 1132.2, +1.1
Short 1 TF 1132.3, -0.5,
Short 2 TF 1132.3, 1132.3, +0.5, -0.5
Short 2 TF 1132.9, 1132.9, +0.5, -0.5
Short 2 TF 1133.0, 1133.0, +0.5, +1.2
Total NQ +10.25
Total +2.3
Wed Jan 29 Trade & Journal
20140129
Short 2 NQ 3480.75, 3483.5, +2.0, +4.0
Short 2 NQ 3481.0, 3482.25, -1.5, +2.0
Short 2 YM 15773, 15775, -2, -5
Short 1 TF 1129.5, +1.5
Long 2 TF 1125.7, 1125.7, +0.5, -0.2
Long 2 NQ 3469.75, 3468.0, +2.0, +4.0
Long 2 TF 1124.9, 1124.6, +3.0, +0.5
PM Trades
Long 1 YM 15713, -7
Long 1 YM 15685, +30
Total NQ +12.5
Total YM +16
Total TF +5.3
Huge gap down openings can cause a reaction to price production, but even more than that, it can cause a reaction in your head that influences or even inhibits the execution of your normal Trade Plan. Don't let big gaps inhibit the execution of your Trade Plan. If your Trade Plan does not accommodate such things, then maybe there's some tweaking to do in the Plan. Stay focused. Concentrate on whether the specifics of the Entry Model have appeared. If so, pull the trigger. Forget about which way the market is supposed to go after a gap or after this or that news. Stay disciplined, and remember the Douglas Premise: "Most of the money that is lost in the markets is lost by trader who thought they knew which way the market was supposed to go." Once you understand that, the two Corollaries to the Premise will make perfect sense, and come to the aid of your Trade Plan construction. Read the book Pivot's, Patterns and Intraday Swing Trades for those corollaries.
Addendum: The FOMC is always a good bet for volatility, and although my trade plan calls usually for pre-news setups, none occurred that fulfilled Trade Entry requirements. But there were several post-news models that did appear. I only caught one for a 'taste', but sometimes flat is a good position too.
Short 2 NQ 3480.75, 3483.5, +2.0, +4.0
Short 2 NQ 3481.0, 3482.25, -1.5, +2.0
Short 2 YM 15773, 15775, -2, -5
Short 1 TF 1129.5, +1.5
Long 2 TF 1125.7, 1125.7, +0.5, -0.2
Long 2 NQ 3469.75, 3468.0, +2.0, +4.0
Long 2 TF 1124.9, 1124.6, +3.0, +0.5
PM Trades
Long 1 YM 15713, -7
Long 1 YM 15685, +30
Total NQ +12.5
Total YM +16
Total TF +5.3
Huge gap down openings can cause a reaction to price production, but even more than that, it can cause a reaction in your head that influences or even inhibits the execution of your normal Trade Plan. Don't let big gaps inhibit the execution of your Trade Plan. If your Trade Plan does not accommodate such things, then maybe there's some tweaking to do in the Plan. Stay focused. Concentrate on whether the specifics of the Entry Model have appeared. If so, pull the trigger. Forget about which way the market is supposed to go after a gap or after this or that news. Stay disciplined, and remember the Douglas Premise: "Most of the money that is lost in the markets is lost by trader who thought they knew which way the market was supposed to go." Once you understand that, the two Corollaries to the Premise will make perfect sense, and come to the aid of your Trade Plan construction. Read the book Pivot's, Patterns and Intraday Swing Trades for those corollaries.
Addendum: The FOMC is always a good bet for volatility, and although my trade plan calls usually for pre-news setups, none occurred that fulfilled Trade Entry requirements. But there were several post-news models that did appear. I only caught one for a 'taste', but sometimes flat is a good position too.
Tues Jan 28 Trades & Summary
20140128
Short 2 TF 1128.1, 1128.3, +0.5, -0.5
Short 3 TF 1128.5, 1128.4, 1129.1, -0, -0. +1.0
Short 1 YM 15866, -5
Short 1 NQ 3497.5, +4.0
Long 2 YM 15840, 15838, +12, +7
Long 2 TF 1129.3, 1129.3, +0.5, -0.5
Long 2 TF 1128.9, 1129.0, +1.7, +0.5
Long 2 TF 1130.0, 1129.4, -0.0, +1.4
Total NQ +4.0
Total YM +14
Total TF +4.6
Was certainly a target rich environment today, and as such missed a number of trades, the last one coming just after the end of the 1st frame at the Kilroy for YM and NQ exhaustion. But all in all, I seemed to have kept the pace of the decisions on an even keel, unlike some days where the muddy signals might cause position flips too quickly. That can result in too many trades. An even pace is good. Stay focused, and stay with the Plan.
Short 2 TF 1128.1, 1128.3, +0.5, -0.5
Short 3 TF 1128.5, 1128.4, 1129.1, -0, -0. +1.0
Short 1 YM 15866, -5
Short 1 NQ 3497.5, +4.0
Long 2 YM 15840, 15838, +12, +7
Long 2 TF 1129.3, 1129.3, +0.5, -0.5
Long 2 TF 1128.9, 1129.0, +1.7, +0.5
Long 2 TF 1130.0, 1129.4, -0.0, +1.4
Total NQ +4.0
Total YM +14
Total TF +4.6
Was certainly a target rich environment today, and as such missed a number of trades, the last one coming just after the end of the 1st frame at the Kilroy for YM and NQ exhaustion. But all in all, I seemed to have kept the pace of the decisions on an even keel, unlike some days where the muddy signals might cause position flips too quickly. That can result in too many trades. An even pace is good. Stay focused, and stay with the Plan.
Mon Jan 27 Trades & Journal
20140127
Short 1 TF 1143.3, +1.2
Long 2 TF 1138.2, 1138.5, +1.7, +0.5
Long 2 TF 1135.8, 1135.6, -0.5, +0.5
Long 2 TF 1135.9, 1134.9, -0.5, -0.5
Long 2 TF 1133.2, 1133.2, -0.7, -0.7
Long 3 YM 15823, 15823, 15823, +20, +20, -0
Long 2 TF 1127.3, 1127.2, +0.5, -0.5
Long 2 YM 15810, 15807, +10, +20
Long 2 TF 1128.1, 1128.4, +1.7, +0.5
PM Trades:
Short 1 TF 1125.6, -0.5
Short 2 TF 11261, 1126.3, +2.0, +0.7
Total YM +70
Total TF +5.3
The Trade Plan says to look for reversals back up after a Persistent Trend Day Down, and the early action in the TF and the subsequent lows in the YM did provide good bounces and profits. But was hard to escape the strong feeling of 'should have known' regarding the breakdown levels where I balked at taking shorts in the TF today. The Serial Sequent sell signals in the daily frame for both TF and NQ some days back have been showing excellent production, but it is hard to carry larger frame signals into the lower frames with consistency, Alexander Elder notwithstanding. I must renew my efforts at overcoming the mental blocks to taking breakouts, at least at the levels where the fractal method indicates they have the greatest chances of success.
Addendum: The Last Chance Texaco showed up a bit early in PM action, as a reversal finally captured a little ground. Despite the incredible heaviness, the Trade Plan says not to target a new LOD with the Last Texaco short, as this would be the 2nd day of Persistent Trend Day Down action, and therefore far more vulnerable to a short covering reversal. As I write this, am pulling all chips off table and stick with decent profits. Trade the Plan, not your opinions, and be careful of tape reading your entries based on the 'feel' of the trend. Intuition and tape reading are recipes for inconsistency.... or worse....
Short 1 TF 1143.3, +1.2
Long 2 TF 1138.2, 1138.5, +1.7, +0.5
Long 2 TF 1135.8, 1135.6, -0.5, +0.5
Long 2 TF 1135.9, 1134.9, -0.5, -0.5
Long 2 TF 1133.2, 1133.2, -0.7, -0.7
Long 3 YM 15823, 15823, 15823, +20, +20, -0
Long 2 TF 1127.3, 1127.2, +0.5, -0.5
Long 2 YM 15810, 15807, +10, +20
Long 2 TF 1128.1, 1128.4, +1.7, +0.5
PM Trades:
Short 1 TF 1125.6, -0.5
Short 2 TF 11261, 1126.3, +2.0, +0.7
Total YM +70
Total TF +5.3
The Trade Plan says to look for reversals back up after a Persistent Trend Day Down, and the early action in the TF and the subsequent lows in the YM did provide good bounces and profits. But was hard to escape the strong feeling of 'should have known' regarding the breakdown levels where I balked at taking shorts in the TF today. The Serial Sequent sell signals in the daily frame for both TF and NQ some days back have been showing excellent production, but it is hard to carry larger frame signals into the lower frames with consistency, Alexander Elder notwithstanding. I must renew my efforts at overcoming the mental blocks to taking breakouts, at least at the levels where the fractal method indicates they have the greatest chances of success.
Addendum: The Last Chance Texaco showed up a bit early in PM action, as a reversal finally captured a little ground. Despite the incredible heaviness, the Trade Plan says not to target a new LOD with the Last Texaco short, as this would be the 2nd day of Persistent Trend Day Down action, and therefore far more vulnerable to a short covering reversal. As I write this, am pulling all chips off table and stick with decent profits. Trade the Plan, not your opinions, and be careful of tape reading your entries based on the 'feel' of the trend. Intuition and tape reading are recipes for inconsistency.... or worse....
Fri Jan 24 Trades & Journal
Trade Summary
20140124
Long 2 TF 1156.2, 1156.3, +0.5, -0.5
Long 1 ES 1806.5, +2.0
Short 1 YM 16037, -7
Short 2 TF 1156.0, 1156.2, +1.4, +0.5
Long 1 TF 1152.1, +1.2
Long 1 YM 15961, +13
Long 1 TF 1147.0, -0.5
Long 1 TF 1145.8, -0.5
Long 2 ES 1898.5, 1898.75, +1.0, -1.0
Long 1 TF 1144.1, -0.5
Long 2 TF 1141.7, 1141.6, -0.5, -0.2
Long 2 TF 1141.2, 1140.9, +1.5, +1.4
Short 2 NQ 3568.5, 3568.5, +2.0, +6.0
Total ES +2.0
Total YM +6
Total NQ +8.0
Total TF +3.8
When prices collapse early in a Persistent direction, there's little chance to get short as the bounces can be shallow. Today was just such a beginning for TF, and the bounce that came in the YM proved to have bigger extension. This can leave you trying to counter trend trade the extremes. I can't say I took any of those potential buy reversals in TF out of trend model, and I did trade 1 lots with small stp's trying to catch the sharper reactions. Best I can say is that when a fourth series of lows were arriving at a set of support numbers in the TF, I had the gumption to re enter after a series of stp-outs chewed early profits down to almost the bone. This would have discouraged many a trader and no doubt many of my students in the chat room at the time. But sometimes trading requires as much persistence as the trend itself. Wishing a good weekend to all. Stay disciplined. If your Trade Entry Models work more often than fail, then the Plan will bring you back into profits if you stay with it.
20140124
Long 2 TF 1156.2, 1156.3, +0.5, -0.5
Long 1 ES 1806.5, +2.0
Short 1 YM 16037, -7
Short 2 TF 1156.0, 1156.2, +1.4, +0.5
Long 1 TF 1152.1, +1.2
Long 1 YM 15961, +13
Long 1 TF 1147.0, -0.5
Long 1 TF 1145.8, -0.5
Long 2 ES 1898.5, 1898.75, +1.0, -1.0
Long 1 TF 1144.1, -0.5
Long 2 TF 1141.7, 1141.6, -0.5, -0.2
Long 2 TF 1141.2, 1140.9, +1.5, +1.4
Short 2 NQ 3568.5, 3568.5, +2.0, +6.0
Total ES +2.0
Total YM +6
Total NQ +8.0
Total TF +3.8
When prices collapse early in a Persistent direction, there's little chance to get short as the bounces can be shallow. Today was just such a beginning for TF, and the bounce that came in the YM proved to have bigger extension. This can leave you trying to counter trend trade the extremes. I can't say I took any of those potential buy reversals in TF out of trend model, and I did trade 1 lots with small stp's trying to catch the sharper reactions. Best I can say is that when a fourth series of lows were arriving at a set of support numbers in the TF, I had the gumption to re enter after a series of stp-outs chewed early profits down to almost the bone. This would have discouraged many a trader and no doubt many of my students in the chat room at the time. But sometimes trading requires as much persistence as the trend itself. Wishing a good weekend to all. Stay disciplined. If your Trade Entry Models work more often than fail, then the Plan will bring you back into profits if you stay with it.
Thu Jan 23 Trades & Journal
Trade Summary
20140123
Long 2 TF 1168.8, 1169.0, +1.2, +0.5
Long 2 YM 16136, 16136, -3, -3
Short 2 TF 1166.1, 1166.1, +0.5 +0.5
PM Trades
Short 1 TF 1165.3, -0.1
Short 1 TF 1165.1, -0.3
Long 1 ES 18157.5, -1.0
Short 1 TF 1164.6, -0.0
Short 2 TF 1165.0, 1165.2, -0.4, -0.2
Long 1 TF 1165.1, -0.1
Total ES -1.0
Total YM -6
Total TF +1.1
Sometimes a big gap will take the swing volatility out of the market in 1st Frame. Was so today, and as such, found only a few trades to fit plan. Can say I stuck pretty well to it, but did miss a good trade model entry in the NQ while focusing a bit too hard on the TF. In the PM, have a rule not trade away past AM profits, so as not to take a positive day into a negative one. And in the ensuing PM chop, could find nothing but stp-outs to show for my efforts. About the best I can say was that I did at least follow that rule and quit before going negative. Some days are better for trading than others. And quite willing to admit that perhaps other methods and management styles might be produced better results. One day is not enough to consider any changes to a trade plan, if that plan is working far more often that it fails. Tomorrow is another day... Stay focused.
20140123
Long 2 TF 1168.8, 1169.0, +1.2, +0.5
Long 2 YM 16136, 16136, -3, -3
Short 2 TF 1166.1, 1166.1, +0.5 +0.5
PM Trades
Short 1 TF 1165.3, -0.1
Short 1 TF 1165.1, -0.3
Long 1 ES 18157.5, -1.0
Short 1 TF 1164.6, -0.0
Short 2 TF 1165.0, 1165.2, -0.4, -0.2
Long 1 TF 1165.1, -0.1
Total ES -1.0
Total YM -6
Total TF +1.1
Sometimes a big gap will take the swing volatility out of the market in 1st Frame. Was so today, and as such, found only a few trades to fit plan. Can say I stuck pretty well to it, but did miss a good trade model entry in the NQ while focusing a bit too hard on the TF. In the PM, have a rule not trade away past AM profits, so as not to take a positive day into a negative one. And in the ensuing PM chop, could find nothing but stp-outs to show for my efforts. About the best I can say was that I did at least follow that rule and quit before going negative. Some days are better for trading than others. And quite willing to admit that perhaps other methods and management styles might be produced better results. One day is not enough to consider any changes to a trade plan, if that plan is working far more often that it fails. Tomorrow is another day... Stay focused.
Wed Jan 22 Trades & Journal
Trade Summary
20140122
Long 2 TF 1172.6, 1172.9, +1.1, +0.5
Long 1 TF 1173.2, +1.4
Long 1 TF 1172.3, -0.7
Long 2 TF 1171.6, 1171.6, +0.7, +1.0
Short 1 TF 1172.8, -0.0
Long 1 TF 1173.6, -0.2
Long 2 TF 1172.5, 1172.5, -0.5, -0.3
Long 1 TF 1172.4, +0.6
Total TF +3.6
Unless your OCO strategies are preset on separate price ladders, and are second nature to your trade entry and exit management, trading in narrow range days is pretty much impossible. You just can't keep up with the small turns. But anyone can learn to do it. I often find students are trying to monitor all four index contracts with various study methods for capturing complete trade models correctly, but are trying to do so, and trade with price ladders all from as little as two monitors. There is no time for peeling back a Windows frame or flipping WorkSpaces back-n-forth. Open separate price ladders for each contract. At least 2 each. Present different OCO strategies for each. Let your mouse do all the work with one-click decisions. There is no time for hesitation. The thinking part should have been done long ago while the market was closed as your reviewed and rehearsed what to do when specific Trade Entry Models appeared. In real time, you must act, not think. Thinking is for the Analyst. Be the Trader.
20140122
Long 2 TF 1172.6, 1172.9, +1.1, +0.5
Long 1 TF 1173.2, +1.4
Long 1 TF 1172.3, -0.7
Long 2 TF 1171.6, 1171.6, +0.7, +1.0
Short 1 TF 1172.8, -0.0
Long 1 TF 1173.6, -0.2
Long 2 TF 1172.5, 1172.5, -0.5, -0.3
Long 1 TF 1172.4, +0.6
Total TF +3.6
Unless your OCO strategies are preset on separate price ladders, and are second nature to your trade entry and exit management, trading in narrow range days is pretty much impossible. You just can't keep up with the small turns. But anyone can learn to do it. I often find students are trying to monitor all four index contracts with various study methods for capturing complete trade models correctly, but are trying to do so, and trade with price ladders all from as little as two monitors. There is no time for peeling back a Windows frame or flipping WorkSpaces back-n-forth. Open separate price ladders for each contract. At least 2 each. Present different OCO strategies for each. Let your mouse do all the work with one-click decisions. There is no time for hesitation. The thinking part should have been done long ago while the market was closed as your reviewed and rehearsed what to do when specific Trade Entry Models appeared. In real time, you must act, not think. Thinking is for the Analyst. Be the Trader.
Tues Jan 21 Trades & Journal
20140121
Long 2 TF 1172.8, 1172.8, +0.5, +1.0
Short 4 TF 1174.3, 1174.6, 1174.8, 1174.4, +0.5, -0.5, +0.7, +0.5
Short 2 TF 1170.2, 1170.4, -0.0, +1.2
Long 2 TF 1164.7, 1164.3, -0.0, -0.0,
Long 2 TF 1164.6, 1164.5, +1.0, +0.5
Total +5.4
Sometimes the best trades get by you. This can be discouraging. There's such an attraction to glory when trading, like swinging for the fence and catching those sudden sharp downdrafts like you knew it was coming. But the point to trading is to use your entry models and trade what matches them only. Today, I had matching models for both the early two downdrafts. The first I was shaken out of on all the chop, and the second I missed by having my pullback short entry a bit too high. In truth, I never saw the deepness of that 2nd downdraft coming, and had I actually been filled on the LMT short entry, I would most likely have exited at an initial new low and missed the extra extension to the full excursion anyway. What I can say is that I tempered my angst by keeping my head to find a long at the bottom. Stay focused. You can't catch them all.
Long 2 TF 1172.8, 1172.8, +0.5, +1.0
Short 4 TF 1174.3, 1174.6, 1174.8, 1174.4, +0.5, -0.5, +0.7, +0.5
Short 2 TF 1170.2, 1170.4, -0.0, +1.2
Long 2 TF 1164.7, 1164.3, -0.0, -0.0,
Long 2 TF 1164.6, 1164.5, +1.0, +0.5
Total +5.4
Sometimes the best trades get by you. This can be discouraging. There's such an attraction to glory when trading, like swinging for the fence and catching those sudden sharp downdrafts like you knew it was coming. But the point to trading is to use your entry models and trade what matches them only. Today, I had matching models for both the early two downdrafts. The first I was shaken out of on all the chop, and the second I missed by having my pullback short entry a bit too high. In truth, I never saw the deepness of that 2nd downdraft coming, and had I actually been filled on the LMT short entry, I would most likely have exited at an initial new low and missed the extra extension to the full excursion anyway. What I can say is that I tempered my angst by keeping my head to find a long at the bottom. Stay focused. You can't catch them all.
Fri Jan 17 Trades & Journal
20140117
Short 2 TF 1169.8, 1169.8, +.5, +1.2
Short 1 TF 1169.9, -0.4
Long 1 NQ 3587.5, -0.0
Short 1 TF 1168.9, +1.0
Short 1 TF 1167.5, -0.3
Long 1 TF 1168.2, -0.4,
Long 1 TF 1168.2, +0.2
Total NQ -0
Total TF +1.8
Some days are better for trading than others. A little more patience and a slightly bigger stp would have afforded a daily profit goal from the last long position. Patience is a serious short coming to my trading. Having patience means you can endure the slow grinding rallies that come as the 1st frame is ending, and the volatility is winding down. Consider the last trade signal. Measure it against the momentum. Consider leaving your stop on a runner to no more than break-even, and 'position yourself to be surprised'. ...and a good weekend to all...
Short 2 TF 1169.8, 1169.8, +.5, +1.2
Short 1 TF 1169.9, -0.4
Long 1 NQ 3587.5, -0.0
Short 1 TF 1168.9, +1.0
Short 1 TF 1167.5, -0.3
Long 1 TF 1168.2, -0.4,
Long 1 TF 1168.2, +0.2
Total NQ -0
Total TF +1.8
Some days are better for trading than others. A little more patience and a slightly bigger stp would have afforded a daily profit goal from the last long position. Patience is a serious short coming to my trading. Having patience means you can endure the slow grinding rallies that come as the 1st frame is ending, and the volatility is winding down. Consider the last trade signal. Measure it against the momentum. Consider leaving your stop on a runner to no more than break-even, and 'position yourself to be surprised'. ...and a good weekend to all...
Thur Jan 16 Trades & Journal
20140116
Short 2 NQ 3598.25, 3598.25, +2.0, +4.0
Short 2 NQ 3604.75, 3404.75, +2.0, +4.0
Long 1 TF 1168.1, -0.1
Long 2 TF 1166.9, 1166.9, +0.5, +1.7
Total NQ +12.00
Total TF +2.2
Determined to look elsewhere for trades today as a result of day before yesterday's missed opportunities in the ES and NQ while fumbling with incomplete Entry Models for the TF. Have only the process of journaling for that. Have a Plan. That Plan has rules and models. Include no model that does not work far more often than it fails. Take the trade if the criteria of the model are met, regardless of what you may read on 'the tape', or assume about the trend. For the Trader, Trade Models ARE the trend. He knows no other. And the TF is not the only contract on the board worthy of the Plan. Stay disciplined.
Short 2 NQ 3598.25, 3598.25, +2.0, +4.0
Short 2 NQ 3604.75, 3404.75, +2.0, +4.0
Long 1 TF 1168.1, -0.1
Long 2 TF 1166.9, 1166.9, +0.5, +1.7
Total NQ +12.00
Total TF +2.2
Determined to look elsewhere for trades today as a result of day before yesterday's missed opportunities in the ES and NQ while fumbling with incomplete Entry Models for the TF. Have only the process of journaling for that. Have a Plan. That Plan has rules and models. Include no model that does not work far more often than it fails. Take the trade if the criteria of the model are met, regardless of what you may read on 'the tape', or assume about the trend. For the Trader, Trade Models ARE the trend. He knows no other. And the TF is not the only contract on the board worthy of the Plan. Stay disciplined.
Wed Jan 15 Trades & Journal
20140115
Short 3 YM 16366, 16364, 16366, +7, -1, +5
Short 2 TF 1167.9, 1168.0, -0.3, +0.5
Short 1 TF 1168.2, +1.2
Short 1 YM 16406, -7
Short 2 YM 16410, 16411, +5, -5
Short 1 TF 1166.8, -0.3
PM trades
Long 2 TF 1165.6, 1165.3, +1.2, +0.7
Total YM +4
Total TF +3.0
Several aspects to my 1st frame performance today as same as yesterday. Meager profits. And today, can point to very clear trade opps in both the ES and NQ which I ignored (more correctly, lost focus of) while trading the TF, which exhibited poor Entry Model minutia. But returning to the PM frame in anticipation of the 2pm Beige Book and a possible Pre-News setup, gave me 2 more pts in the TF for a modest, but decent day. After that, I smartly pulled up chips and went home. Stay disciplined. Consistency from day to day is far more important than playing catch up to missed profit goals. Profits are the opposite of glory. A trader seldom ends up the month with both.
Short 3 YM 16366, 16364, 16366, +7, -1, +5
Short 2 TF 1167.9, 1168.0, -0.3, +0.5
Short 1 TF 1168.2, +1.2
Short 1 YM 16406, -7
Short 2 YM 16410, 16411, +5, -5
Short 1 TF 1166.8, -0.3
PM trades
Long 2 TF 1165.6, 1165.3, +1.2, +0.7
Total YM +4
Total TF +3.0
Several aspects to my 1st frame performance today as same as yesterday. Meager profits. And today, can point to very clear trade opps in both the ES and NQ which I ignored (more correctly, lost focus of) while trading the TF, which exhibited poor Entry Model minutia. But returning to the PM frame in anticipation of the 2pm Beige Book and a possible Pre-News setup, gave me 2 more pts in the TF for a modest, but decent day. After that, I smartly pulled up chips and went home. Stay disciplined. Consistency from day to day is far more important than playing catch up to missed profit goals. Profits are the opposite of glory. A trader seldom ends up the month with both.
Mon Jan 13 Trade Summary
20140113
Long 2 TF 1157.6, 1157.5, +0.5, -0.5
Short 1 TF 1157.8, +2.0
Short 1 TF 1158.5, -0.5
Long 3 TF 1159.5, 1159.3, 1158.4, -0, -0, +1.3
Long YM 16372, -5
PM trades:
Long 2 YM 16248, 16248, +5, -5
Long 1 NQ 3524.75, -1.0
Long 2 TF 1148.1, 1147.7, -0.5, -0.2
Long 2 TF 1148.0, 1148.0, -0.3, -0.5
Long 2 TF 1147.3, 1147.3, -0.5, -0.5
Long 2 TF 1147.2, 1147.2, -0.4, -0.4
Long 3 TF 1144.6, 1144.6, 1145.2, +1.0, -0.1, -0.3
Total YM -5
Total NQ -1.0
Total TF +0.1
Think of the trading day as divided into 3 frames. If your trade models are more fitting the one than another, focus accordingly. If I have some profit from the 1st frame, but is nominal, I often return to catch the last time frame of the day. Today, doing so to take PM trades violated nothing in my Trade Plan. But using more than the available profit won from the 1st frame to find successful trades in the 3rd would have been a clear violation of a management rule in the Plan. And that's about the best thing I can think to say about my trading today.... so I'll leave it right there, and be back another day.
Long 2 TF 1157.6, 1157.5, +0.5, -0.5
Short 1 TF 1157.8, +2.0
Short 1 TF 1158.5, -0.5
Long 3 TF 1159.5, 1159.3, 1158.4, -0, -0, +1.3
Long YM 16372, -5
PM trades:
Long 2 YM 16248, 16248, +5, -5
Long 1 NQ 3524.75, -1.0
Long 2 TF 1148.1, 1147.7, -0.5, -0.2
Long 2 TF 1148.0, 1148.0, -0.3, -0.5
Long 2 TF 1147.3, 1147.3, -0.5, -0.5
Long 2 TF 1147.2, 1147.2, -0.4, -0.4
Long 3 TF 1144.6, 1144.6, 1145.2, +1.0, -0.1, -0.3
Total YM -5
Total NQ -1.0
Total TF +0.1
Think of the trading day as divided into 3 frames. If your trade models are more fitting the one than another, focus accordingly. If I have some profit from the 1st frame, but is nominal, I often return to catch the last time frame of the day. Today, doing so to take PM trades violated nothing in my Trade Plan. But using more than the available profit won from the 1st frame to find successful trades in the 3rd would have been a clear violation of a management rule in the Plan. And that's about the best thing I can think to say about my trading today.... so I'll leave it right there, and be back another day.
Mon Jan 13 Trade Summary
20140113
Long 2 TF 1157.6, 1157.5, +0.5, -0.5
Short 1 TF 1157.8, +2.0
Short 1 TF 1158.5, -0.5
Long 3 TF 1159.5, 1159.3, 1158.4, -0, -0, +1.3
Long YM 16372, -5
Total YM -5
Total TF +2.8
Long 2 TF 1157.6, 1157.5, +0.5, -0.5
Short 1 TF 1157.8, +2.0
Short 1 TF 1158.5, -0.5
Long 3 TF 1159.5, 1159.3, 1158.4, -0, -0, +1.3
Long YM 16372, -5
Total YM -5
Total TF +2.8
Fri Jan 8 Trades & Journal
20140110
Short 2 NQ 3556.6, 3556.6, +2.0, +4.0
Long 2 YM 16392, 16392, -6, -6
Long 2 NQ 3549.25, 3549.25, -0, -0
Long 2 ES 1831.75, 1831.75, -1.25, -1.25
Long 2 TF 1150.7, 1150.7, +1.0, +2.0
Short 1 TF 1157.3, +0.8
Long 2 TF 1154.4, 1154.0, -0, +1.2
Total YM -12
Total NQ +6.0
Total ES -2.5
Total TF +5.0
Exiting too soon is a major problem for many traders. They cannot tolerate taking a loss, so those they let run. But when a profitable trade finally appears, they must book it quickly to help pay for the losses and to supply some much needed mental reward to the pain of recent losses. At other times, you're just unsure of the position, and a profit that seems to be at hand in a trade you don't believe in is a profit you take quickly. I took profits several times today too soon. Not quite because I didn't believe in it, but more that I only believed in it at the entry level, and not enough to overcome the resistance or support numbers it had to face in order to trend. If the model was correct, it deserves a trend that extends until a reversal signal in the opposite direction appears. And that much respect, I simply did not offer to several trades today. This has long been a weakness in my trading, and curing it won't be easy. But the road to behavior change starts with acknowledgement. It then requires repeated attention. It must then have a method on which it might rely for the change. And then it takes continual determination and awareness to accomplish the opposite of the fault even once. Acknowledge your trading weaknesses. Resolve to give it repeated attention until the very act of recognition becomes a habit. Resolve to see the fault coming before you commit it again. Act on the method to see the fault into the changed behavior by using a goal that would be accomplished only if the fault were overcome. Reach the goal. Look to repeat the new behavior. Enjoy the weekend... Stay focused and disciplined.
Short 2 NQ 3556.6, 3556.6, +2.0, +4.0
Long 2 YM 16392, 16392, -6, -6
Long 2 NQ 3549.25, 3549.25, -0, -0
Long 2 ES 1831.75, 1831.75, -1.25, -1.25
Long 2 TF 1150.7, 1150.7, +1.0, +2.0
Short 1 TF 1157.3, +0.8
Long 2 TF 1154.4, 1154.0, -0, +1.2
Total YM -12
Total NQ +6.0
Total ES -2.5
Total TF +5.0
Exiting too soon is a major problem for many traders. They cannot tolerate taking a loss, so those they let run. But when a profitable trade finally appears, they must book it quickly to help pay for the losses and to supply some much needed mental reward to the pain of recent losses. At other times, you're just unsure of the position, and a profit that seems to be at hand in a trade you don't believe in is a profit you take quickly. I took profits several times today too soon. Not quite because I didn't believe in it, but more that I only believed in it at the entry level, and not enough to overcome the resistance or support numbers it had to face in order to trend. If the model was correct, it deserves a trend that extends until a reversal signal in the opposite direction appears. And that much respect, I simply did not offer to several trades today. This has long been a weakness in my trading, and curing it won't be easy. But the road to behavior change starts with acknowledgement. It then requires repeated attention. It must then have a method on which it might rely for the change. And then it takes continual determination and awareness to accomplish the opposite of the fault even once. Acknowledge your trading weaknesses. Resolve to give it repeated attention until the very act of recognition becomes a habit. Resolve to see the fault coming before you commit it again. Act on the method to see the fault into the changed behavior by using a goal that would be accomplished only if the fault were overcome. Reach the goal. Look to repeat the new behavior. Enjoy the weekend... Stay focused and disciplined.
Thurs Jan 9 Trades & Journal
20140109
Long 2 TF 1156.7, 1156.8, +0.5, +0.5
Short 3 TF 1158.7, 1158.6, 1158.5, +0.5, -0.2, +0.9
Short 1 TF 1158.6, -0.4
Short 1 TF 1159.2, +1.0
Short 2 TF 1159.4, 1159.2, +4.0, +0.5
Total TF +7.3
The early short signals were solid going into the 1st leg down, despite the grinding retest that knocked me out early several times. Perhaps it was the familiarity with the pattern, but I did succeed in being persistent with short re-entries after stp-outs near the HOD until it finally rolled over. Thereafter, I quit trading having exceeded my 1st Frame trading goals. Wish I could say that every day.... My book, Pivots, Patterns and Intraday Swing Trades is now out in Kindle. Although it doesn't contain the algorithms for Serial Sequent Wave Method, nor the TTI True Trend Momentum Indicator, it is a good basis for the trading day and a blueprint for building a trading plan around trade models of confluent technical event minutia. Build a Trade Plan. Trade the Plan. Stay disciplined.
Long 2 TF 1156.7, 1156.8, +0.5, +0.5
Short 3 TF 1158.7, 1158.6, 1158.5, +0.5, -0.2, +0.9
Short 1 TF 1158.6, -0.4
Short 1 TF 1159.2, +1.0
Short 2 TF 1159.4, 1159.2, +4.0, +0.5
Total TF +7.3
The early short signals were solid going into the 1st leg down, despite the grinding retest that knocked me out early several times. Perhaps it was the familiarity with the pattern, but I did succeed in being persistent with short re-entries after stp-outs near the HOD until it finally rolled over. Thereafter, I quit trading having exceeded my 1st Frame trading goals. Wish I could say that every day.... My book, Pivots, Patterns and Intraday Swing Trades is now out in Kindle. Although it doesn't contain the algorithms for Serial Sequent Wave Method, nor the TTI True Trend Momentum Indicator, it is a good basis for the trading day and a blueprint for building a trading plan around trade models of confluent technical event minutia. Build a Trade Plan. Trade the Plan. Stay disciplined.
Wed Jan 8 Trades & Journal
20140108
Short 2 TF 1153.8, 1153.6, +0.5, +1.5
Long 2 NQ 3548.0, 3548.0, -1.5, -1.5
Long 2 NQ 3546.5, 3546.5, +2.0, +3.5
Short 2 TF 1150.5, 1151.1, -1.0, -0.4
Short 2 TF 1152.0, 1152.0, -0.6, -0.6
Short 3 TF 1153.1, 1153.1, 1153.1, +0.5, +0.5, -0.3
Short 3 NQ 3558.25, 3558.25, +2.0, +3.0
Short 1 TF 1158.2, -0.5
Short 2 NQ 3562.75, 3562.75, -1.5, -1.5
Short 2 TF 1156.9, 1156.9, +1.4, +2.0
PM Trades:
Long 2 TF 1151.8, 1151.2, -0.0, +1.7
Long 2 TF 1151.8, 1151.5, -0.5, +0.5
Long 2 TF 1151.5, 1151.5, +0.5, +1.2
Total NQ +4.5
Total +5.7
After taking 2 early trades that were spot-on, I got cocky and assumed the reversal back up was faux and just a short entry opp, too early. In fact, the bull was the truer trend and I knew better, as it was really the 2nd trend direction after rejecting the Lows. How can I know something so well and yet feel compelled to trade against my own rules? This has often puzzled me, as if I am capable of going into any fresh trading day and forget to take my head with me. Did catch the final high correctly for a short that recaptured the early profits, and rightfully quit then as the 1st frame was ending with some profits in hand. It was important to end that frame on the plus side, as today follows a losing day, and two in a row is much more difficult to overcome for a profitable week. And profitable weeks are critically important.
Addendum. Thanks to one of my students, was reminded that this was FOMC day. The pre-news action found TF pricing testing support on a structured pullback from the HOD. Was able to buy this twice with nice profits, and decided not to risk an open position going into the news, as per the usual strategy, as ringing the cash register enough to make up for yesterday's loss plus is far better management, imho, than going for the gold. Stay focused. Consistency is more important after a losing day than trying to regain the world.
Short 2 TF 1153.8, 1153.6, +0.5, +1.5
Long 2 NQ 3548.0, 3548.0, -1.5, -1.5
Long 2 NQ 3546.5, 3546.5, +2.0, +3.5
Short 2 TF 1150.5, 1151.1, -1.0, -0.4
Short 2 TF 1152.0, 1152.0, -0.6, -0.6
Short 3 TF 1153.1, 1153.1, 1153.1, +0.5, +0.5, -0.3
Short 3 NQ 3558.25, 3558.25, +2.0, +3.0
Short 1 TF 1158.2, -0.5
Short 2 NQ 3562.75, 3562.75, -1.5, -1.5
Short 2 TF 1156.9, 1156.9, +1.4, +2.0
PM Trades:
Long 2 TF 1151.8, 1151.2, -0.0, +1.7
Long 2 TF 1151.8, 1151.5, -0.5, +0.5
Long 2 TF 1151.5, 1151.5, +0.5, +1.2
Total NQ +4.5
Total +5.7
After taking 2 early trades that were spot-on, I got cocky and assumed the reversal back up was faux and just a short entry opp, too early. In fact, the bull was the truer trend and I knew better, as it was really the 2nd trend direction after rejecting the Lows. How can I know something so well and yet feel compelled to trade against my own rules? This has often puzzled me, as if I am capable of going into any fresh trading day and forget to take my head with me. Did catch the final high correctly for a short that recaptured the early profits, and rightfully quit then as the 1st frame was ending with some profits in hand. It was important to end that frame on the plus side, as today follows a losing day, and two in a row is much more difficult to overcome for a profitable week. And profitable weeks are critically important.
Addendum. Thanks to one of my students, was reminded that this was FOMC day. The pre-news action found TF pricing testing support on a structured pullback from the HOD. Was able to buy this twice with nice profits, and decided not to risk an open position going into the news, as per the usual strategy, as ringing the cash register enough to make up for yesterday's loss plus is far better management, imho, than going for the gold. Stay focused. Consistency is more important after a losing day than trying to regain the world.
Tues Jan 7 Trades & Journal
Trade Summary
20140107
Short 1 TF 1148.5, -0.6
Short 2 YM 17463, 16463, +5, -5
Short 2 NQ 3541.0, 3541.0, -1.5, -1.5
Short 2 TF 1153.3, 1153.3, +0.5, -0.5
Short 2 YM 17469, 17469, -7, -7
Short 2 YM 17477, 17477, +5, -1
Short 2 NQ 3546.50, 3546.25, +1.5, -0.75
Long 2 YM 17467, 17467, +5, +12
Short 2 TF 1156.7, 1156.7, -0.5, -0.5
Short 3 TF 1157.2, 1157.2, 1157.2, +0.5, -0.5, -0.2
Short 2 TF 1158.1, 1158.1, +0.5, +0.7
Long 2 YM 17476, 17476, +5, +6
Long 2 YM 17475, 17475, +5, -3
Long 2 NQ 3547.0, 3546.50, -1.25, -0.75
Long 3 TF 1156.4, 1156.5, 1156.4, -0.4, -0.5, -0.2
Short 2 TF 1155.9, 1159.9, -0.0, -0.3
Total YM +20
Total NQ -4.25
Total TF -2.0
Tough grind finding swings and pullbacks in a Persistent Trend action morning. Although the losses were kept at a minimum by good partial-exit discipline, I took too many trades as frustration set in. Today was a day for breakout traders who took risks right from the opening action. Subsequent bull breakouts would not have proven so successful, as pullback stp-outs would have plagued most outcomes. And getting in sync with the bull as I extended my entries through the Noon Hour Time Marker only added to the frustration as the chop action continued. Pull the plug on it. Some days in the market help the 401k's. Those days are not usually good for intraday futures trades.
20140107
Short 1 TF 1148.5, -0.6
Short 2 YM 17463, 16463, +5, -5
Short 2 NQ 3541.0, 3541.0, -1.5, -1.5
Short 2 TF 1153.3, 1153.3, +0.5, -0.5
Short 2 YM 17469, 17469, -7, -7
Short 2 YM 17477, 17477, +5, -1
Short 2 NQ 3546.50, 3546.25, +1.5, -0.75
Long 2 YM 17467, 17467, +5, +12
Short 2 TF 1156.7, 1156.7, -0.5, -0.5
Short 3 TF 1157.2, 1157.2, 1157.2, +0.5, -0.5, -0.2
Short 2 TF 1158.1, 1158.1, +0.5, +0.7
Long 2 YM 17476, 17476, +5, +6
Long 2 YM 17475, 17475, +5, -3
Long 2 NQ 3547.0, 3546.50, -1.25, -0.75
Long 3 TF 1156.4, 1156.5, 1156.4, -0.4, -0.5, -0.2
Short 2 TF 1155.9, 1159.9, -0.0, -0.3
Total YM +20
Total NQ -4.25
Total TF -2.0
Tough grind finding swings and pullbacks in a Persistent Trend action morning. Although the losses were kept at a minimum by good partial-exit discipline, I took too many trades as frustration set in. Today was a day for breakout traders who took risks right from the opening action. Subsequent bull breakouts would not have proven so successful, as pullback stp-outs would have plagued most outcomes. And getting in sync with the bull as I extended my entries through the Noon Hour Time Marker only added to the frustration as the chop action continued. Pull the plug on it. Some days in the market help the 401k's. Those days are not usually good for intraday futures trades.
Mon Jan 6 Trades & Journal
20140106
Long 2 YM 16407, 16407, +5, -6
Long 1 TF 1149.0, +1.2
Long 1 TF 1149.3, -0.5,
Long 1 TF 1149.4, +1.8
Long 1 ES 1824.75, -0
Short 2 NQ 3519.75, 3519.25, +2.0, -0.5
Long 1 TF 1147.1, -0.4
PM trades:
Short 2 NQ 3530.75, 3530.25, +2.0, +3.0
Total YM -1
Total NQ +6.5
Total TF +2.1
The third day of trading for the New Year and only slightly better for intraday swing signals than the earlier two. Unlike the earlier two, did not miss an Opening Range signal this time, as prices plummeted straight down without any signal. This breakdown would have been ideal for breakout traders using overnight data, but since I do not include that in my Trade Plan, I had to wait for support to counter-trend trade. But all trades were taken within Plan parameters. The PM signals did include a TF short but was unable to grab it, as the entry level came and went too quickly. At least all three days were profitable, although below profit targets. Stay consistent, the better smaller frame swing signals will always reappear.
Long 2 YM 16407, 16407, +5, -6
Long 1 TF 1149.0, +1.2
Long 1 TF 1149.3, -0.5,
Long 1 TF 1149.4, +1.8
Long 1 ES 1824.75, -0
Short 2 NQ 3519.75, 3519.25, +2.0, -0.5
Long 1 TF 1147.1, -0.4
PM trades:
Short 2 NQ 3530.75, 3530.25, +2.0, +3.0
Total YM -1
Total NQ +6.5
Total TF +2.1
The third day of trading for the New Year and only slightly better for intraday swing signals than the earlier two. Unlike the earlier two, did not miss an Opening Range signal this time, as prices plummeted straight down without any signal. This breakdown would have been ideal for breakout traders using overnight data, but since I do not include that in my Trade Plan, I had to wait for support to counter-trend trade. But all trades were taken within Plan parameters. The PM signals did include a TF short but was unable to grab it, as the entry level came and went too quickly. At least all three days were profitable, although below profit targets. Stay consistent, the better smaller frame swing signals will always reappear.
Fri Jan 3 Trades & Journal
20140103
Short 3 TF 1152.7, 1153.2, 1153.2, -0, +0.7, +0.8
Long 2 TF 1151.7, 1151.6, -0.5, -0.4
Long 1 TF 1151.9, +1.0
Short 1 TF 1153.1, -0.5
Short 2 TF 1153.3, 1153.4, -0.5, +0.4
Long 1 TF 1153.8, -0.2
Long 3 NQ 3554.25, 3554.25, 3553.5, -0.0, -2.0, -1.5
Long 1 TF 1152.1, -0.5
Long 1 TF 1151.3, 1151.4, +0.7, +1.3
Total NQ -3.5
Total TF +2.3
The NQ contract is well known for having a mind of its own as it sets about establishing a trend, often quite apart from other market sectors. But today the divergence and bifurcation was severe, even for the NQ. Generally, supporting signals from the other contracts are a key element to my Trade Entry Models, and as such, my trading was indeed challenged by this tug-a-war between the NQ and mini Russell small caps index. A small profit is, I well know, better than none at all, and I can console myself and retain a positive attitude on the grounds alone that this kind of severe divergence is a fairly rare market phenomenon. However, I did miss and Opening ORB trade in the TF having no such excuse whatsoever. I simply balked, and missed a great trade that could easily as contributed to fulfilling my unmet daily profit goal. Be determined. Trade the trades in your Trade Plan. If those entry models produce inconsistent results, then they have no business being included in your Plan. So as long as they remain a part of it, take the trades without hesitation.
Short 3 TF 1152.7, 1153.2, 1153.2, -0, +0.7, +0.8
Long 2 TF 1151.7, 1151.6, -0.5, -0.4
Long 1 TF 1151.9, +1.0
Short 1 TF 1153.1, -0.5
Short 2 TF 1153.3, 1153.4, -0.5, +0.4
Long 1 TF 1153.8, -0.2
Long 3 NQ 3554.25, 3554.25, 3553.5, -0.0, -2.0, -1.5
Long 1 TF 1152.1, -0.5
Long 1 TF 1151.3, 1151.4, +0.7, +1.3
Total NQ -3.5
Total TF +2.3
The NQ contract is well known for having a mind of its own as it sets about establishing a trend, often quite apart from other market sectors. But today the divergence and bifurcation was severe, even for the NQ. Generally, supporting signals from the other contracts are a key element to my Trade Entry Models, and as such, my trading was indeed challenged by this tug-a-war between the NQ and mini Russell small caps index. A small profit is, I well know, better than none at all, and I can console myself and retain a positive attitude on the grounds alone that this kind of severe divergence is a fairly rare market phenomenon. However, I did miss and Opening ORB trade in the TF having no such excuse whatsoever. I simply balked, and missed a great trade that could easily as contributed to fulfilling my unmet daily profit goal. Be determined. Trade the trades in your Trade Plan. If those entry models produce inconsistent results, then they have no business being included in your Plan. So as long as they remain a part of it, take the trades without hesitation.
Thurs Jan 2 Trades & Journal
20140102
Long 2 TF 1148.0, 1148.2, +3.0, +0.7
Total TF +3.7
Data problems nearly kept from being able to see my charts for the 1st Frame, but finally cleared up just after the 10:00am economic reports. I missed an Opening ORB trade in the YM, as I worked on refreshing and clearing my program data buffers. Fortunately, I missed no Pre-News setups there, as that is one of my favored Trade Plan Entry Models, and was able to capture the buy signal at the low. I did call one more pullback buy opp in the TF contract, but went unfilled. All-in-all, an ok way to begin the New Year nonetheless. Stay focused. Now is the time to renew all your resolutions to become a more consistently profitable trader. Focus your mind. Become determined to take the trade models you have in your plan without hesitation. Weed out and disgard those trade models that are inconsistent and do not inspire confidence.
Long 2 TF 1148.0, 1148.2, +3.0, +0.7
Total TF +3.7
Data problems nearly kept from being able to see my charts for the 1st Frame, but finally cleared up just after the 10:00am economic reports. I missed an Opening ORB trade in the YM, as I worked on refreshing and clearing my program data buffers. Fortunately, I missed no Pre-News setups there, as that is one of my favored Trade Plan Entry Models, and was able to capture the buy signal at the low. I did call one more pullback buy opp in the TF contract, but went unfilled. All-in-all, an ok way to begin the New Year nonetheless. Stay focused. Now is the time to renew all your resolutions to become a more consistently profitable trader. Focus your mind. Become determined to take the trade models you have in your plan without hesitation. Weed out and disgard those trade models that are inconsistent and do not inspire confidence.
Friday Dec 20 Trades & Journal
20131220
Short 2 TF 1127.6, 1127.6, +0.7, +1.2
Short 1 TF 1127.7, -0.5
Short 2 TF 1129.7, 1129.6, -0.0, -0.5
Short 2 TF 1130.8, 1130.8, -0.5, -0.5
Short 2 TF 1131.8, 1131.7, -0.4, -0.5
Short 3 TF 1132.4, 1132.3, 1131.9, +0.7, +0.5, +0.9
Total TF +1.1
Monthly Totals Dec 2013
Total ES -0
Total YM +152
Total NQ +31.75
Total TF +45.8
Persistent Trend Days are perhaps the most challenging of all day model patterns. The signals for their appearance can arrive with subtlety. Today, I saw those signals very clearly, and posted them in the chat room, and yet, I did not take the corresponding trade entry models buy signals that appeared subsequently in the YM and NQ contracts that would have allowed me to participated in the ensuing advance that was led by the run-way TF Leadership Shift. On many days I remain flexible as to contract choice and suffer no hesitation in taking trades where I find them outside of the favored TF contract. My reluctance today was inexplicable, and cost me the day's profit quota. Stay focused. The object is to win your profit goals, not have it 'your way'. Only Frank Sinatra did it his way. The rest of us do it by what ever means is offered. No trades for the rest of holiday period until Jan. So I wish all a very Merry Christmas, Happy Hanukkah, and Happy New Year.
Short 2 TF 1127.6, 1127.6, +0.7, +1.2
Short 1 TF 1127.7, -0.5
Short 2 TF 1129.7, 1129.6, -0.0, -0.5
Short 2 TF 1130.8, 1130.8, -0.5, -0.5
Short 2 TF 1131.8, 1131.7, -0.4, -0.5
Short 3 TF 1132.4, 1132.3, 1131.9, +0.7, +0.5, +0.9
Total TF +1.1
Monthly Totals Dec 2013
Total ES -0
Total YM +152
Total NQ +31.75
Total TF +45.8
Persistent Trend Days are perhaps the most challenging of all day model patterns. The signals for their appearance can arrive with subtlety. Today, I saw those signals very clearly, and posted them in the chat room, and yet, I did not take the corresponding trade entry models buy signals that appeared subsequently in the YM and NQ contracts that would have allowed me to participated in the ensuing advance that was led by the run-way TF Leadership Shift. On many days I remain flexible as to contract choice and suffer no hesitation in taking trades where I find them outside of the favored TF contract. My reluctance today was inexplicable, and cost me the day's profit quota. Stay focused. The object is to win your profit goals, not have it 'your way'. Only Frank Sinatra did it his way. The rest of us do it by what ever means is offered. No trades for the rest of holiday period until Jan. So I wish all a very Merry Christmas, Happy Hanukkah, and Happy New Year.
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