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.
