20140331
Long 1 TF 1150.9, -0.2
Long 2 TF 1150.6, 1151.2, +1.4, +0.7
Short 1 TF 1154.4, -0.5,
Short 1 TF 1155.7, -0.5
Short 2 TF 1156.6, 1156.4, -0.2, +1.0
Short 2 TF 1158.1, 1158.7, -1.0, +0.7
Short 1 TF 1160.0, -0.1
Short 1 TF 1159.9, +2.0
Long 2 NQ 3601.25, 3600.25, -2.0, -1.0
Long 2 TF 1157.5, 1157.5, +0.5, +1.3
Long 1 TF 1161.0, +1.4
Total NQ -3.0
Total TF +6.5
Stuck well to plan today. Even caught the inflection breakout, albeit a 1-lot. Biggest fault was too quick an exit on early TF long. Got spooked by proximity of all-session low with anticipation that it would still be taken out, so took a safe exit, and then tried to short again too soon. Be wary of trend prejudice. One quiet thought in your head can be like catching a cold in your trading. Eventually, you shake it off, but not before coughing up a few losing trades.... Stay focused.
Fri Mar 28 Trades & Journal
20140327
Long 2 TF 1153.4, 1153.3, -0.7, -0.5
Long 2 TF 1152.6, 1152.6, +1.0, +2.0
Long 1 NQ 3586.75, +4.5
Short 2 TF 1158.5, 1158.4, +0.7, +1.0
Total NQ +4.5
Total TF +3.5
Traded according to plan today. Although I did not take the Inflection Breakout, the TrueTrend Momentum Indicator was a justifying filter to avoid it. Was not in front of the screen yesterday, but having prepared myself mentally to that particular breakout model so much these last few days prior, can only wonder if I would have taken it yesterday having noticed it today in review of the charts as yesterday's big 1st Frame play. It will show up next week no doubt again. I'll be there. Stay focused. ...and a good weekend to all....
Long 2 TF 1153.4, 1153.3, -0.7, -0.5
Long 2 TF 1152.6, 1152.6, +1.0, +2.0
Long 1 NQ 3586.75, +4.5
Short 2 TF 1158.5, 1158.4, +0.7, +1.0
Total NQ +4.5
Total TF +3.5
Traded according to plan today. Although I did not take the Inflection Breakout, the TrueTrend Momentum Indicator was a justifying filter to avoid it. Was not in front of the screen yesterday, but having prepared myself mentally to that particular breakout model so much these last few days prior, can only wonder if I would have taken it yesterday having noticed it today in review of the charts as yesterday's big 1st Frame play. It will show up next week no doubt again. I'll be there. Stay focused. ...and a good weekend to all....
Wed Mar 26 Trades & Journal
20140326
Short 1 NQ 3639.5, +5.0
Short 2 YM 16374, 16374, +7, +30
Long 2 TF 1175.4, 1175.4, +0.5, +1.7
Total NQ +5.0
Total YM +37
Total TF +2.2
With having reached a 5 pt equivalent TF profit by the first 3 trades, I decided to hold our Course Session class a little early as such earlier times benefit our Far East students. To my chagrin, they kept trading through the class because so many signals were clearly prominent today.... but that's ok. My goal is 5 pts for the self-imposed 1st Frame window, and after that, it matters little what the rest of the day does.. Stay focused....
Short 1 NQ 3639.5, +5.0
Short 2 YM 16374, 16374, +7, +30
Long 2 TF 1175.4, 1175.4, +0.5, +1.7
Total NQ +5.0
Total YM +37
Total TF +2.2
With having reached a 5 pt equivalent TF profit by the first 3 trades, I decided to hold our Course Session class a little early as such earlier times benefit our Far East students. To my chagrin, they kept trading through the class because so many signals were clearly prominent today.... but that's ok. My goal is 5 pts for the self-imposed 1st Frame window, and after that, it matters little what the rest of the day does.. Stay focused....
Tues Mar 25, Trades & Journal
20140325
Long 1 ES 1860, +2.0
Short 2 NQ 3642.0, 3642.0, +1.5, -1.5
Long 2 YM 16285, 16287, +7, +20
Long 2 NQ 3642.5, 3642.0, -2.0, -1.0
Long 1 TF 1182.6, -0.5
Long 2 1182.0, 1182.0, +1.0, +1.2
Long 2 YM 16269, 16270, +7, -7
Long 1 NQ 3624.75, -1.5
Long 2 TF 1177.5, 1176.5, -1.4, -0.5
Long 2 TF 1175.8, 1175.8, +1.0, -0.5
Long 1 YM 16238, +10
Long 3 TF 1175.1, 1174.7, 1174.2, +0.7, +2.0, +3.0
Total ES +2.0
Total YM +37
Total NQ -4.5
Total TF +6.0
Nearly all trades counter-trend again, but today were in the absence of Trade Plan breakdown entry models, unlike yesterday. Lost focus and made an error in an early NQ trade by simply failing to see the rule base was missing, and never should have taken that trade. Also, cannot explain why only 1 ES contract was taken at its entry level. Need to take at least two when trading the ES. Considering I was not able to enter shorts at the HOD where intended, am not unhappy with trades taken. Odd to say it, but made more yesterday while failing to take some critical entries within the Plan. A measure of a good day is sticking to the Plan, not how much is made by luck or good fortune, and simply cannot say that about yesterday's performance, despite the better outcome.
Long 1 ES 1860, +2.0
Short 2 NQ 3642.0, 3642.0, +1.5, -1.5
Long 2 YM 16285, 16287, +7, +20
Long 2 NQ 3642.5, 3642.0, -2.0, -1.0
Long 1 TF 1182.6, -0.5
Long 2 1182.0, 1182.0, +1.0, +1.2
Long 2 YM 16269, 16270, +7, -7
Long 1 NQ 3624.75, -1.5
Long 2 TF 1177.5, 1176.5, -1.4, -0.5
Long 2 TF 1175.8, 1175.8, +1.0, -0.5
Long 1 YM 16238, +10
Long 3 TF 1175.1, 1174.7, 1174.2, +0.7, +2.0, +3.0
Total ES +2.0
Total YM +37
Total NQ -4.5
Total TF +6.0
Nearly all trades counter-trend again, but today were in the absence of Trade Plan breakdown entry models, unlike yesterday. Lost focus and made an error in an early NQ trade by simply failing to see the rule base was missing, and never should have taken that trade. Also, cannot explain why only 1 ES contract was taken at its entry level. Need to take at least two when trading the ES. Considering I was not able to enter shorts at the HOD where intended, am not unhappy with trades taken. Odd to say it, but made more yesterday while failing to take some critical entries within the Plan. A measure of a good day is sticking to the Plan, not how much is made by luck or good fortune, and simply cannot say that about yesterday's performance, despite the better outcome.
Mon Mar 24 Trades & Journal
20140324
Long 2 YM 16266, 16266, -7, -7
Long 2 NQ 3627.25, 3624.5, -2.0, -1.0
Long 2 TF 1185.2, 1185.2, +0.7, +1.2
Long 2 TF 1184.6, 1184.1, -1.0, -0.5
Long 3 TF 1184.0, 1184.0, 1183.7, +0.7, +0.7, +2.3
Long 2 YM 16218, 16217, +5, -7
Long 1 TF 1176.7, -0.5
Long 2 TF 1176.0, 1176.2, +0.7, +1.2
Long 1 TF 1174.9, +1.5
Long 1 TF 1169.6, -0.7
Long 1 TF 1168.5, +4.0
Total YM -16
Total NQ -3.0
Total TF +10.3
There were two perfect and simple in-trend trades with the trade plan today, as prices proceeded to collapse totally. I wasn't in front of the screen at the Open for the 1st, and balked at the 2nd. The first was a simple aberration of the 3-bar ORB in the TF. Don't be late to the Open. You can miss so much. And although I've taken Opening trades from the plan fairly consistently these past weeks, nearly none of them worked. ...except the one I missed today, and that one was huge. The second simple trade missed was the 1st Series Double Pump. It takes some faith that the current trend will be sustained beyond support/resistance numbers to take breakouts that can develop so many points deep into the trend. But the fact that I've balked at the last 3 of those entry models in recent sessions should have been a reinforcement for my psyche to make the change. It was not. I'll take the next one. ...and as punishment for having missed the last 3 that worked so well to catch in-trend breakouts, the next one will surely fail. But that's ok. I need to get in the game on that trade entry model. I'm tired of missing it, and even more tired of having to report in my journal that I balked at taking it again. ... Luckily today, the counter trend bounces in the TF were so big, and even failing to take the in-trend plays still left me with more profit than I usually make in the single 1st Frame's trading. Stay focused. Identify your weaknesses, and your resolutions to change. Accept those changes as ingredients to better success, and take the trades in your plan.
Long 2 YM 16266, 16266, -7, -7
Long 2 NQ 3627.25, 3624.5, -2.0, -1.0
Long 2 TF 1185.2, 1185.2, +0.7, +1.2
Long 2 TF 1184.6, 1184.1, -1.0, -0.5
Long 3 TF 1184.0, 1184.0, 1183.7, +0.7, +0.7, +2.3
Long 2 YM 16218, 16217, +5, -7
Long 1 TF 1176.7, -0.5
Long 2 TF 1176.0, 1176.2, +0.7, +1.2
Long 1 TF 1174.9, +1.5
Long 1 TF 1169.6, -0.7
Long 1 TF 1168.5, +4.0
Total YM -16
Total NQ -3.0
Total TF +10.3
There were two perfect and simple in-trend trades with the trade plan today, as prices proceeded to collapse totally. I wasn't in front of the screen at the Open for the 1st, and balked at the 2nd. The first was a simple aberration of the 3-bar ORB in the TF. Don't be late to the Open. You can miss so much. And although I've taken Opening trades from the plan fairly consistently these past weeks, nearly none of them worked. ...except the one I missed today, and that one was huge. The second simple trade missed was the 1st Series Double Pump. It takes some faith that the current trend will be sustained beyond support/resistance numbers to take breakouts that can develop so many points deep into the trend. But the fact that I've balked at the last 3 of those entry models in recent sessions should have been a reinforcement for my psyche to make the change. It was not. I'll take the next one. ...and as punishment for having missed the last 3 that worked so well to catch in-trend breakouts, the next one will surely fail. But that's ok. I need to get in the game on that trade entry model. I'm tired of missing it, and even more tired of having to report in my journal that I balked at taking it again. ... Luckily today, the counter trend bounces in the TF were so big, and even failing to take the in-trend plays still left me with more profit than I usually make in the single 1st Frame's trading. Stay focused. Identify your weaknesses, and your resolutions to change. Accept those changes as ingredients to better success, and take the trades in your plan.
Fri Mar 21 Trades & Journal
20140321
Long 1 NQ 3704.75, -1.25
Long 2 TF 1197.7, 1197.8, +0.5, +0.5
Short 2 TF 1198.2 1198.9, -0.0, +1.2
Short 1 TF 1197.1, -0.0
Long 1 TF 1197.0, -0.2
Long 1 TF 1196.9, -0.3
Long 2 TF 1196.9, 1196.6, -0.0, +0.7
Long 1 TF 1196.5, +1.2
Long 1 TF 1196.9, -0.4
Long 1 NQ 3668.25, -2.0
Short 2 TF 1195.8, 1196.0, -0.5, +0.5
Short 2 TF 1198.4, 1198.4, +0.5, -0.6
Short 1 TF 1199.5, +1.3
Total NQ -3.25
Total TF +4.4
Stuck pretty much to plan today, but the plan didn't identify the major turns in either TF or NQ. ...and was asleep at the YM low while focusing on the TF. No excuse. I did call YM buy in the room, but was late and it exploded...just to spite me... An early TF short could have been established as runner....in hindsight, but the TF action contained so much relative strength and counter trend buy signals that sustaining the position would have required far more patience than I ever come to trading with. It's Friday... and a good weekend to all...
Long 1 NQ 3704.75, -1.25
Long 2 TF 1197.7, 1197.8, +0.5, +0.5
Short 2 TF 1198.2 1198.9, -0.0, +1.2
Short 1 TF 1197.1, -0.0
Long 1 TF 1197.0, -0.2
Long 1 TF 1196.9, -0.3
Long 2 TF 1196.9, 1196.6, -0.0, +0.7
Long 1 TF 1196.5, +1.2
Long 1 TF 1196.9, -0.4
Long 1 NQ 3668.25, -2.0
Short 2 TF 1195.8, 1196.0, -0.5, +0.5
Short 2 TF 1198.4, 1198.4, +0.5, -0.6
Short 1 TF 1199.5, +1.3
Total NQ -3.25
Total TF +4.4
Stuck pretty much to plan today, but the plan didn't identify the major turns in either TF or NQ. ...and was asleep at the YM low while focusing on the TF. No excuse. I did call YM buy in the room, but was late and it exploded...just to spite me... An early TF short could have been established as runner....in hindsight, but the TF action contained so much relative strength and counter trend buy signals that sustaining the position would have required far more patience than I ever come to trading with. It's Friday... and a good weekend to all...
Thur Mar 20 Trades & Journal
Trade Summary
20140320
Short 2 NQ 3674.25, 3670.5, +4.0, +2.0
Long 1 NQ 6365.25, -2.0
Long 2 NQ 3662.25, 3662.25, -2.0, -2.0
Long 2 TF 1184.5, 1184.5, +0.5, -0.5
Long 3 TF 1184.2, 1184.2, 1184.5, +2.0, +1.5, +1.0
Short 1 TF 1187.6, -0.5
Short 1 TF 1189.4, -0.2
Short 1 YM 16139, -6
Short 2 NQ 3681.25, 3681.0, -1.5, -0.0
Short 1 TF 1194.5, 1194.9, -0.5
Short 1 TF 1196.8, -.1
Long 2 TF 1193.2, 1192.9, -0.2, +0.5
Long 1 TF 1193.1, +1.2
Total YM -6
Total NQ -1.5
Total TF +4.7
Patterns like yesterday's FOMC volatility don't exist in a vacuum. They echo back. Their footprints come in pairs. And today, the giant's other foot came down with a shock wave mirroring that same decline in counter trend. Some will point to the news. But that's just a cover story. Had the Philly Fed been less positive, or even negative, the talking heads would just point out the sharp selling that preceded the news as 'done in anticipation'. Then they could add, "sell the rumor, fade the news" to their need for a logical explanation and fitting retort to their need to sustain the myth of Efficient Market Theory. The markets are all structure. The news creates waves, but is useless unless the structure is in a position to receive it. When it's not, it's ignored. My biggest mistake today was in not taking a mental picture of yesterday PM's volatility patterns as a good preparation to trading and position runner considerations. The buy signals at the Low-of-Day were were pretty perfect, but without considering the structures need to reflect that structure in mirrored opposites, I retained no runner, even though I had 3 contracts at that LOD. That same lack of respect also allowed too many attempts to short the explosive 2nd trend too soon before its job of mirror in counter point the previous day's decline was finally done. Open your eyes. The market is all structure. Good news, bad news, it's always over in minutes. After that, the structure always tells the story. "The news is meant to confuse..", as my mentor always use to remind me. "Follow the news and you will lose."
20140320
Short 2 NQ 3674.25, 3670.5, +4.0, +2.0
Long 1 NQ 6365.25, -2.0
Long 2 NQ 3662.25, 3662.25, -2.0, -2.0
Long 2 TF 1184.5, 1184.5, +0.5, -0.5
Long 3 TF 1184.2, 1184.2, 1184.5, +2.0, +1.5, +1.0
Short 1 TF 1187.6, -0.5
Short 1 TF 1189.4, -0.2
Short 1 YM 16139, -6
Short 2 NQ 3681.25, 3681.0, -1.5, -0.0
Short 1 TF 1194.5, 1194.9, -0.5
Short 1 TF 1196.8, -.1
Long 2 TF 1193.2, 1192.9, -0.2, +0.5
Long 1 TF 1193.1, +1.2
Total YM -6
Total NQ -1.5
Total TF +4.7
Patterns like yesterday's FOMC volatility don't exist in a vacuum. They echo back. Their footprints come in pairs. And today, the giant's other foot came down with a shock wave mirroring that same decline in counter trend. Some will point to the news. But that's just a cover story. Had the Philly Fed been less positive, or even negative, the talking heads would just point out the sharp selling that preceded the news as 'done in anticipation'. Then they could add, "sell the rumor, fade the news" to their need for a logical explanation and fitting retort to their need to sustain the myth of Efficient Market Theory. The markets are all structure. The news creates waves, but is useless unless the structure is in a position to receive it. When it's not, it's ignored. My biggest mistake today was in not taking a mental picture of yesterday PM's volatility patterns as a good preparation to trading and position runner considerations. The buy signals at the Low-of-Day were were pretty perfect, but without considering the structures need to reflect that structure in mirrored opposites, I retained no runner, even though I had 3 contracts at that LOD. That same lack of respect also allowed too many attempts to short the explosive 2nd trend too soon before its job of mirror in counter point the previous day's decline was finally done. Open your eyes. The market is all structure. Good news, bad news, it's always over in minutes. After that, the structure always tells the story. "The news is meant to confuse..", as my mentor always use to remind me. "Follow the news and you will lose."
Wed Mar 19 Trades & Journal
20140319
Short 2 YM 16261, 16259, +7, -7
Short 2 TF 1197.9, 1197.9, +0.5, -0.5
Long 2 TF 1198.4, 1198.4, +0.4, -0.4
Short 1 TF 1198.9, -0.5
Short 2 TF 1199.3, 1199.4, -0.4, -0.6
Short 2 NQ 3700.75, 3700.75, -0.5, +2.0
Long 2 TF 1197.7, 1197.7, +0.5, +1.2
Long 2 TF 1196.2, 1196.4, +0.5, +1.0
Long 1 NQ 3692.5, -2.0
Long 2 TF 1196.3, 1196.4, +0.5, -0.5
Long 2 TF 1185.4, 1185.4, +0.5, +1.3
Short 2 TF 1197.6, 1197.6, -0.2, -0.0
Total YM -0
Total NQ -0.5
Total TF +3.3
"....a whole lot'a shakin' goin' on.", as Elvis would say. ...but every trade was according to plan, and unlike yesterday, took an early stp-n-rev breakout, but this one, also unlike yesterday, was not clean and I net no profit from it. But still examining yesterday, especially my mindset at the inflection levels, as to why I balked so badly at one of the key bull breakout levels of the day. Keep learning. The best source to the improvement of your trading is always the history of your own trades and entry decisions. What Technical Event Entry Models are supported by your Trade Plan? Do they seem to be the right ones for positioning in-trend or end-of-trend? If not, what changes might be considered for change... and how many days of testing and observation can you support such changes with? If the Entry Models are good..., then what mental landscape might you find yourself impeded by at the moment those models are appearing at the right edge of your video screen. What is keeping you out of the best trades? Consider. Reflect. Adjust. Commit. Establish discipline. Stay focused on the rules.
Short 2 YM 16261, 16259, +7, -7
Short 2 TF 1197.9, 1197.9, +0.5, -0.5
Long 2 TF 1198.4, 1198.4, +0.4, -0.4
Short 1 TF 1198.9, -0.5
Short 2 TF 1199.3, 1199.4, -0.4, -0.6
Short 2 NQ 3700.75, 3700.75, -0.5, +2.0
Long 2 TF 1197.7, 1197.7, +0.5, +1.2
Long 2 TF 1196.2, 1196.4, +0.5, +1.0
Long 1 NQ 3692.5, -2.0
Long 2 TF 1196.3, 1196.4, +0.5, -0.5
Long 2 TF 1185.4, 1185.4, +0.5, +1.3
Short 2 TF 1197.6, 1197.6, -0.2, -0.0
Total YM -0
Total NQ -0.5
Total TF +3.3
"....a whole lot'a shakin' goin' on.", as Elvis would say. ...but every trade was according to plan, and unlike yesterday, took an early stp-n-rev breakout, but this one, also unlike yesterday, was not clean and I net no profit from it. But still examining yesterday, especially my mindset at the inflection levels, as to why I balked so badly at one of the key bull breakout levels of the day. Keep learning. The best source to the improvement of your trading is always the history of your own trades and entry decisions. What Technical Event Entry Models are supported by your Trade Plan? Do they seem to be the right ones for positioning in-trend or end-of-trend? If not, what changes might be considered for change... and how many days of testing and observation can you support such changes with? If the Entry Models are good..., then what mental landscape might you find yourself impeded by at the moment those models are appearing at the right edge of your video screen. What is keeping you out of the best trades? Consider. Reflect. Adjust. Commit. Establish discipline. Stay focused on the rules.
Tues Mar 18 Trades & Journal
Trade Summary
20140318
Short 2 NQ 3673.25, 3672.75, -1.0, +2.0
Short 2 YM 16231 16235, -5, -9
Short 3 TF 1188.7, 1188.9, 1188.7, +0.5, +0.5, -0.2
Short 1 YM 16244, -6
Short 3 TF 1188.6, 1188.6, 1188.4, +0.7, +0.7, +0.8
Short 2 NQ 3683.25, 3683.0, -2.0, -1.5
Short 2 TF 1191.6, 1191.6, -0.3, -0.5
Short 2 TF 1192.3, 1192.2, -0.6, -0.7
Short 2 TF 1194.3, 1194.2, +0.7, +1.0
Long 2 TF 1192.5, 1192.3, -0.5, +0.5
Long 1 TF 1192.4, +1.0
PM Trades: 1198.8, 1198.7, +0.7, +0.5
Long 2 TF
Total NQ -2.5
Total YM -20
Total TF +4.8
Serial Sequent fractal studies is an incredible tool. But knowing where the impulsive breakouts should come still won't make you pull the trigger. That has to come from a disciplined adherence to a trade plan that includes them. Mine does, and yet, today, I still couldn't make myself a believer and muster faith enough to buy them. So full of doubt about the possibility of bull Persistence today, that even when the market did pull back to a 1st Chance Texaco long entry level, I only managed enough faith to hold on for a net +1.0 with my last trade. Would risking the breakouts be any worse than the counter trend fades I got stopped out of today..? I don't see why. Review your breakout filters. Not all of them fit the requirements. But those that do, take the trades. Partial out some quickly for a quick pay-off and to allow a paid-for, shallow stp-loss on the 2nd unit, and give the market a chance it deserves. Position yourself to be surprised. Stay disciplined.
20140318
Short 2 NQ 3673.25, 3672.75, -1.0, +2.0
Short 2 YM 16231 16235, -5, -9
Short 3 TF 1188.7, 1188.9, 1188.7, +0.5, +0.5, -0.2
Short 1 YM 16244, -6
Short 3 TF 1188.6, 1188.6, 1188.4, +0.7, +0.7, +0.8
Short 2 NQ 3683.25, 3683.0, -2.0, -1.5
Short 2 TF 1191.6, 1191.6, -0.3, -0.5
Short 2 TF 1192.3, 1192.2, -0.6, -0.7
Short 2 TF 1194.3, 1194.2, +0.7, +1.0
Long 2 TF 1192.5, 1192.3, -0.5, +0.5
Long 1 TF 1192.4, +1.0
PM Trades: 1198.8, 1198.7, +0.7, +0.5
Long 2 TF
Total NQ -2.5
Total YM -20
Total TF +4.8
Serial Sequent fractal studies is an incredible tool. But knowing where the impulsive breakouts should come still won't make you pull the trigger. That has to come from a disciplined adherence to a trade plan that includes them. Mine does, and yet, today, I still couldn't make myself a believer and muster faith enough to buy them. So full of doubt about the possibility of bull Persistence today, that even when the market did pull back to a 1st Chance Texaco long entry level, I only managed enough faith to hold on for a net +1.0 with my last trade. Would risking the breakouts be any worse than the counter trend fades I got stopped out of today..? I don't see why. Review your breakout filters. Not all of them fit the requirements. But those that do, take the trades. Partial out some quickly for a quick pay-off and to allow a paid-for, shallow stp-loss on the 2nd unit, and give the market a chance it deserves. Position yourself to be surprised. Stay disciplined.
Mon Mar 17 Trades & Journal
Trade Summary
20140317
Short 2 TF 1191.3, 1191.3, +0.7, -0.7
Short 2 YM 16165, 16165, -14, -14
Short 2 NQ 3663.25, 3663.25, 3663.25, -2.5, +2.0, +2.0
Short 3 YM 16191 16191, 16195, -7, -7, -3
Short 5 NQ 3671.5, 3671.50, 3671.5, 3672.0, 3670.0, +2.0, +2.0, +2.0, +6.0, +5.0
Long 2 NQ 3663.25, 3663.25, +2.0, +2.0
Long 2 TF 1188.2, 1188.4, +1.2, +0.5
Long 2 TF 1188.0, 1188.2, +0.5, -0.0
Long 2 TF 1187.8, 1187.9, -0.3, -0.3
Long 2 ES 1848.25, 1848.25, +1.5, +2.5
Long 2 TF 1183.6, 1183.5, -0.7, -0.0
Long 1 NQ 3652.5, -2.0
Total YM -45
Total ES +4.0
Total NQ +20.5
Total TF +0.9
We love the volatility....but sometimes it doesn't love us back. Did manage to stay alert after YM stop-outs to see the clean signals in NQ. Since TF is contract of choice, it always feels like a lousy day when it fails to fit the trade plan models, and today's TF action didn't match my entry models at either end. We take the trades where we understand and recognize them. ...and always look forward to tomorrow... Stay focused.
20140317
Short 2 TF 1191.3, 1191.3, +0.7, -0.7
Short 2 YM 16165, 16165, -14, -14
Short 2 NQ 3663.25, 3663.25, 3663.25, -2.5, +2.0, +2.0
Short 3 YM 16191 16191, 16195, -7, -7, -3
Short 5 NQ 3671.5, 3671.50, 3671.5, 3672.0, 3670.0, +2.0, +2.0, +2.0, +6.0, +5.0
Long 2 NQ 3663.25, 3663.25, +2.0, +2.0
Long 2 TF 1188.2, 1188.4, +1.2, +0.5
Long 2 TF 1188.0, 1188.2, +0.5, -0.0
Long 2 TF 1187.8, 1187.9, -0.3, -0.3
Long 2 ES 1848.25, 1848.25, +1.5, +2.5
Long 2 TF 1183.6, 1183.5, -0.7, -0.0
Long 1 NQ 3652.5, -2.0
Total YM -45
Total ES +4.0
Total NQ +20.5
Total TF +0.9
We love the volatility....but sometimes it doesn't love us back. Did manage to stay alert after YM stop-outs to see the clean signals in NQ. Since TF is contract of choice, it always feels like a lousy day when it fails to fit the trade plan models, and today's TF action didn't match my entry models at either end. We take the trades where we understand and recognize them. ...and always look forward to tomorrow... Stay focused.
Fri Mar 14 Trades & Journal
Trade Summary
20140314
Short 1 TF 1176.4, -0.5
Short 2 YM 16075, 16075, -6, -6
Long 1 TF 1173.5, -0.0
Long 1 TF 1173.6, +2.0
Short 1 NQ 3647.0, -2.0
Short 2 NQ 3649.0, 3648.75, +5.0, +2.0
Long 2 YM 16059, 16057, +10, +7
Total YM +3
Total NQ +5.0
Total TF +1.5
Short window for trading today, but caught a couple decent ones. Stay focused. ...and a good weekend to all...
20140314
Short 1 TF 1176.4, -0.5
Short 2 YM 16075, 16075, -6, -6
Long 1 TF 1173.5, -0.0
Long 1 TF 1173.6, +2.0
Short 1 NQ 3647.0, -2.0
Short 2 NQ 3649.0, 3648.75, +5.0, +2.0
Long 2 YM 16059, 16057, +10, +7
Total YM +3
Total NQ +5.0
Total TF +1.5
Short window for trading today, but caught a couple decent ones. Stay focused. ...and a good weekend to all...
Thurs Mar 13 Trades & Journal
Trade Summary
20140313
Short 4 NQ 3715.5, 3715.5, 3716.0, 3716.5, -0.0, +2.0, +2.0, +2.0
Short1 NQ 3716.75, -0.25
Long 1 TF 1191.1, +2.0
Long 1 TF 1189.9, -0.7
Long 3 TF 1189.0, 1189.1, 1188.8, +1.5, +0.7, +0.7
Long 1 YM 16348, -7
Long 1 TF 1186.1, -0.5
Long 2 TF 1185.2, 1185.4, -0.3, -0.5
Long 2 TF 1184.7, 1184.4, -0.7, -0.4
Long 3 TF 1184.4, 1184.4, 1184.5, +1.0, +1.0, +0.7
Long 1 TF 1184.9, +1.5
Total YM -7
Total NQ +5.75
Total TF +6.0
The best trades on a Persistent Trend Day are in-trend. And today, I balked at the inflection level breakdown entry that would have captured the 2nd leg of the bear action. I couldn't get past the momentum indicator being so low. But in reality it had enough room to spare and in fact, was reaching a level where price could actually accelerate into a short term oversold status. I just balked. And as a consequence, found myself counter trend trading away my profits with stp-outs until I finally hit on the right combination of technical minutia to trigger into reversal long positions. This was not a great example of trading. The better way to have finished the morning was to have taken the breakdown play, in-trend. Don't give back your profits counter trend trading as a means to 'getting even' with having missed the in-trend play. Remember the 2nd Corollary to the Douglas Premise: "Most of the opportunity that is missed in the markets is missed by traders who couldn't concede that the market could go the expected distance, but in the opposite direction."
20140313
Short 4 NQ 3715.5, 3715.5, 3716.0, 3716.5, -0.0, +2.0, +2.0, +2.0
Short1 NQ 3716.75, -0.25
Long 1 TF 1191.1, +2.0
Long 1 TF 1189.9, -0.7
Long 3 TF 1189.0, 1189.1, 1188.8, +1.5, +0.7, +0.7
Long 1 YM 16348, -7
Long 1 TF 1186.1, -0.5
Long 2 TF 1185.2, 1185.4, -0.3, -0.5
Long 2 TF 1184.7, 1184.4, -0.7, -0.4
Long 3 TF 1184.4, 1184.4, 1184.5, +1.0, +1.0, +0.7
Long 1 TF 1184.9, +1.5
Total YM -7
Total NQ +5.75
Total TF +6.0
The best trades on a Persistent Trend Day are in-trend. And today, I balked at the inflection level breakdown entry that would have captured the 2nd leg of the bear action. I couldn't get past the momentum indicator being so low. But in reality it had enough room to spare and in fact, was reaching a level where price could actually accelerate into a short term oversold status. I just balked. And as a consequence, found myself counter trend trading away my profits with stp-outs until I finally hit on the right combination of technical minutia to trigger into reversal long positions. This was not a great example of trading. The better way to have finished the morning was to have taken the breakdown play, in-trend. Don't give back your profits counter trend trading as a means to 'getting even' with having missed the in-trend play. Remember the 2nd Corollary to the Douglas Premise: "Most of the opportunity that is missed in the markets is missed by traders who couldn't concede that the market could go the expected distance, but in the opposite direction."
Wed Mar 12 Trades & Journal
Trade Summary
20140312
Short 2 TF 1179.9, 1179.9, +0.7, -0.3
Short 1 NQ 3677.0, -2.0
Short 2 NQ 3682.5, 3682.5, +2.0, -1.0
Short 2 TF 1182.2, +0.7, -0.3
Short 1 NQ 3683.75, +4.0
Short 3 NQ 3686.75, 3686.75, 3687.0, +2.0, -1.5, +4.0
Short 2 TF 1184.1, 1184.0, 1184.1, +0.5, +2.0, +0.5
Short 1 TF 1183.9, +1.0
Short 1 TF 1193.9, -0.5
Short 1 NQ 3694.25, +2.0
Short 1 NQ 3694.25, -2.0
Short 1 TF 1186.4, -0.5
Short 1 TF 1187.1, +1.5
Short 3 NQ 3699.5, 3699.5, 3699.25, +2.0, -2.5, -3.0
Short 1 NQ 3700.25, -2.0
Short 2 ES 1167.75, 1167.75, +1.0, +1.5
Short 1 TF 1189.1, +1.5
Total ES +2.5
Total NQ +4.0
Total TF +6.8
Data failures from Ninjatrader historical servers for CQG today plagued the early going, and missed several trade entry models, especially the TF Low of Day. Fortunately, the volatility allowed counter trend models to work pretty well, at least until the NQ was nearing a climax. There is a sense of being anxious that can come of fear of missing a trade entry as the market is spiking into final structure signals and exhaustion zones. But this is a bad habit of mine that must be better examined. Usually, after such sustained moves, there are retests or pauses at the extremes that give you all the time to clear your mind and enter when the price patterns have better settled in. Don't be rushed into a trade just because you just got stopped out of another. Revenge means nothing to the market. It doesn't know what you're feeling and can't be affected by it. Accept your stp-outs, stay cool. Wait for the trade to gel. Even that extra minute might keep you out of a bad trade entry.
20140312
Short 2 TF 1179.9, 1179.9, +0.7, -0.3
Short 1 NQ 3677.0, -2.0
Short 2 NQ 3682.5, 3682.5, +2.0, -1.0
Short 2 TF 1182.2, +0.7, -0.3
Short 1 NQ 3683.75, +4.0
Short 3 NQ 3686.75, 3686.75, 3687.0, +2.0, -1.5, +4.0
Short 2 TF 1184.1, 1184.0, 1184.1, +0.5, +2.0, +0.5
Short 1 TF 1183.9, +1.0
Short 1 TF 1193.9, -0.5
Short 1 NQ 3694.25, +2.0
Short 1 NQ 3694.25, -2.0
Short 1 TF 1186.4, -0.5
Short 1 TF 1187.1, +1.5
Short 3 NQ 3699.5, 3699.5, 3699.25, +2.0, -2.5, -3.0
Short 1 NQ 3700.25, -2.0
Short 2 ES 1167.75, 1167.75, +1.0, +1.5
Short 1 TF 1189.1, +1.5
Total ES +2.5
Total NQ +4.0
Total TF +6.8
Data failures from Ninjatrader historical servers for CQG today plagued the early going, and missed several trade entry models, especially the TF Low of Day. Fortunately, the volatility allowed counter trend models to work pretty well, at least until the NQ was nearing a climax. There is a sense of being anxious that can come of fear of missing a trade entry as the market is spiking into final structure signals and exhaustion zones. But this is a bad habit of mine that must be better examined. Usually, after such sustained moves, there are retests or pauses at the extremes that give you all the time to clear your mind and enter when the price patterns have better settled in. Don't be rushed into a trade just because you just got stopped out of another. Revenge means nothing to the market. It doesn't know what you're feeling and can't be affected by it. Accept your stp-outs, stay cool. Wait for the trade to gel. Even that extra minute might keep you out of a bad trade entry.
Tues Mar 11 Trade & Journal
20140311
Long 1 TF 1201.0, -0.4
Long 1 TF 1198.9, -0.7
Long 2 TF 1198.1, 1198.1, -0.5, -0.5
Long 2 ES 1873.5, 1873.5, -1.0, -1.0
Long 2 TF 1194.2, 1194.2, -0.5, -0.5
Long 3 NQ 3703.5, 3703.5, 3703.5, +2.0, +2.0, +7.0
Long 2 TF 1193.8, 1193.8, +1.0, +2.2
Long 2 TF 1192.9, 1192.9, +1.0, +1.8
Long 1 TF 1197.3, -0.5
Long 1 TF 1198.1, -0.5
Long 1 TF 1198.8, +1.8
Long 1 TF 1120.8, -.5
PM Trades
Long 2 TF 1191.3, 1190.8, -0.7, -0.2
Long 2 TF 1190.3, 1190.2, +1.0, +1.0
Long 1 TF 1182.4, -0.4
Total ES -2.0
Total NQ +11.0
Total TF +3.9
It can't be stressed enough that you have to be ready execute the trades in your plan. If some require stp-n-rev positioning, then that must be all the more ready as it comes so quickly. Those trades should be announced in your head as 'long with stp-n-rev back to short', as opposed to just 'long' and taking that position, and then deciding it's a stp-n-rev a minute later. Even that might be too late to position for the order entry mechanics of properly adjusting the stops on the long and still getting the stp-n-rev short entries positioned. Be focused. The initial trend breaks of the 1st Frame by nature are the fastest usually of the day. Without practice and preparation, and seeing ahead to the possibility of the model's fruition, you don't have a chance to take advantage of the freshly breaking trends. I was too slow in two places in the early going that could have positioned me to participate on the downside before the buy signals finally came in solidly. Had I not been slow, it would have made the difference in not having to dig myself out of a hole before the true reversal signals did take place.
Long 1 TF 1201.0, -0.4
Long 1 TF 1198.9, -0.7
Long 2 TF 1198.1, 1198.1, -0.5, -0.5
Long 2 ES 1873.5, 1873.5, -1.0, -1.0
Long 2 TF 1194.2, 1194.2, -0.5, -0.5
Long 3 NQ 3703.5, 3703.5, 3703.5, +2.0, +2.0, +7.0
Long 2 TF 1193.8, 1193.8, +1.0, +2.2
Long 2 TF 1192.9, 1192.9, +1.0, +1.8
Long 1 TF 1197.3, -0.5
Long 1 TF 1198.1, -0.5
Long 1 TF 1198.8, +1.8
Long 1 TF 1120.8, -.5
PM Trades
Long 2 TF 1191.3, 1190.8, -0.7, -0.2
Long 2 TF 1190.3, 1190.2, +1.0, +1.0
Long 1 TF 1182.4, -0.4
Total ES -2.0
Total NQ +11.0
Total TF +3.9
It can't be stressed enough that you have to be ready execute the trades in your plan. If some require stp-n-rev positioning, then that must be all the more ready as it comes so quickly. Those trades should be announced in your head as 'long with stp-n-rev back to short', as opposed to just 'long' and taking that position, and then deciding it's a stp-n-rev a minute later. Even that might be too late to position for the order entry mechanics of properly adjusting the stops on the long and still getting the stp-n-rev short entries positioned. Be focused. The initial trend breaks of the 1st Frame by nature are the fastest usually of the day. Without practice and preparation, and seeing ahead to the possibility of the model's fruition, you don't have a chance to take advantage of the freshly breaking trends. I was too slow in two places in the early going that could have positioned me to participate on the downside before the buy signals finally came in solidly. Had I not been slow, it would have made the difference in not having to dig myself out of a hole before the true reversal signals did take place.
Mon Mar 10 Trades & Journal
Trade Summary
20140310
Long 2 NQ 3691. 3691.0, +2.0, -2.0
Long 2 TF 1193.3, 1193.3, -0.7, -0.7
Long 2 TF 1192.3, 1192.2, -0.0, -0.4
Long 2 TF 1191.9, 1192.0, +1.3, +0.5
Short 1 TF 1191.5, -0.4
Short 2 NQ 3693.25, 3694.25, -2.0, -1.0
Short 2 TF 1195.5, 1196.1, -1.0, -0.5
Short 4 NQ 3695.75, 3695.75, 3695.75, 3695.75, -1.0, -1.0, -2.0, -2.0
PM Trades:
Short 2 TF 1195.8, 1195.8, +0.6, -0.3
Total NQ -9.0
Total TF -1.6
Volatility is only your friend if you're entry models match the price structure. Today, mine did not. The best thing you can do when you're out of sync is to cut your losses. Tomorrow is another day, and one day's losses among a good streak of winners does not mean the entry models are in doubt. Have a limit to your losses and stop-losses on your behavior. A bad day does not mean you'll have a bad week or a bad month. Stay focused.
20140310
Long 2 NQ 3691. 3691.0, +2.0, -2.0
Long 2 TF 1193.3, 1193.3, -0.7, -0.7
Long 2 TF 1192.3, 1192.2, -0.0, -0.4
Long 2 TF 1191.9, 1192.0, +1.3, +0.5
Short 1 TF 1191.5, -0.4
Short 2 NQ 3693.25, 3694.25, -2.0, -1.0
Short 2 TF 1195.5, 1196.1, -1.0, -0.5
Short 4 NQ 3695.75, 3695.75, 3695.75, 3695.75, -1.0, -1.0, -2.0, -2.0
PM Trades:
Short 2 TF 1195.8, 1195.8, +0.6, -0.3
Total NQ -9.0
Total TF -1.6
Volatility is only your friend if you're entry models match the price structure. Today, mine did not. The best thing you can do when you're out of sync is to cut your losses. Tomorrow is another day, and one day's losses among a good streak of winners does not mean the entry models are in doubt. Have a limit to your losses and stop-losses on your behavior. A bad day does not mean you'll have a bad week or a bad month. Stay focused.
Fri Mar 7 Trades & Journal
20140307
Short 2 YM 16474, 17479, -3, +10
Short 2 YM 16486, 16486, +7, +20
Long 1 ES 1875.0, +2.0
Short 1 YM 16460, +25
Short 1 YM 16576, -3
Short 2 TF 1204.2, 1204.1, +2.0, +0.5
Short 1 TF 1204.7, -0.3
Total ES +2.0
Total YM +56
Total TF +2.2
In fast action, you have to see the trade models from your Trade Plan setting up before they arrive at the right edge of your video screen. By the time they've arrived, it is too late to get ready. You must be ready with your auto-trade strategy from your trade platform ready to be clicked in. If you have no trade models, then fast action is just a blur and by the time your tape reading skills have caught up with the intuition necessary for judgement, the trade is already gone. Discipline begins with having a Trade Plan in the first place. The Analyst is not allowed to trade.
Short 2 YM 16474, 17479, -3, +10
Short 2 YM 16486, 16486, +7, +20
Long 1 ES 1875.0, +2.0
Short 1 YM 16460, +25
Short 1 YM 16576, -3
Short 2 TF 1204.2, 1204.1, +2.0, +0.5
Short 1 TF 1204.7, -0.3
Total ES +2.0
Total YM +56
Total TF +2.2
In fast action, you have to see the trade models from your Trade Plan setting up before they arrive at the right edge of your video screen. By the time they've arrived, it is too late to get ready. You must be ready with your auto-trade strategy from your trade platform ready to be clicked in. If you have no trade models, then fast action is just a blur and by the time your tape reading skills have caught up with the intuition necessary for judgement, the trade is already gone. Discipline begins with having a Trade Plan in the first place. The Analyst is not allowed to trade.
Thurs Mar 6 Trades & Journal
20140306
Short 2 NQ 3735.25, 3735.75, -1.5, +2.0
Short 2 NQ 3735.5, 3736.25, -1.5, +1.25
Short 2 NQ 3736.5, 3736.75, +4.0, +2.0
Long 2 TF 1204.2, 1204.2, +0.5, -0.5
Long 3 NQ 3736.25, 3736.25, 3725.25, +3.0, +2.0, +2.0
Long 2 TF 1203.7, 1203.7, -1.4, -1.4
Short 1 TF 1204.4, -0.1
Long 2 TF 1204.7, 1204.7, +0.4, -0.5
Short 2 TF 1204.9, 1204.7, +0.5, +1.0
Long 2 NQ 3730.0, 3729.75, +3.25, +2.0
Long 2 TF 1203.2, 1204.4, +0.5, +0.2
PM trades:
Short 2 TF 1204.1, 1204.1, +0.5, +0.7
Total NQ +18.5
Total TF -0.3
A Trade Plan is designed first to identify the plentiful appearance of certain technical models whose outcome is very consistent. Without such a plan, you flounder with tape reading and intuition guided by an oft too random selection of technical trade tools. But sometimes your Trade Plan does not perform according to the typical model outcome. At such times, you have a Trade Management Plan that limits your losses. Today, TF traded outside the parameters of typical model outcome, but I took the trades I was supposed to take, and cannot fault a plan that works with good consistency. However, losses in the TF did compel me to exit trades in the NQ a bit earlier than intended as a way to insure that I would cover losses in the TF. Every trade should ideally stand on its own. ...easier said than done...! Stay focused.
PM Addendum: Sometimes it pays to be in front of the screen all day. Today would have been one of those days, as the model that failed to appear in the AM frame for the TF contract appeared in the PM frame at the piano drop low. I didn't return till the subsequent bounce was hitting resistance and was a short at that moment had become counter trend to the reversal. But that's ok. In general, since starting to limit trades to the 1st Frame, I've generally had better overall weekly results, and a more relaxed disposition to trading. With Serial Sequent, the opening action with its greater overall volatility is now accessible and shows better production. Stay disciplined.
Short 2 NQ 3735.25, 3735.75, -1.5, +2.0
Short 2 NQ 3735.5, 3736.25, -1.5, +1.25
Short 2 NQ 3736.5, 3736.75, +4.0, +2.0
Long 2 TF 1204.2, 1204.2, +0.5, -0.5
Long 3 NQ 3736.25, 3736.25, 3725.25, +3.0, +2.0, +2.0
Long 2 TF 1203.7, 1203.7, -1.4, -1.4
Short 1 TF 1204.4, -0.1
Long 2 TF 1204.7, 1204.7, +0.4, -0.5
Short 2 TF 1204.9, 1204.7, +0.5, +1.0
Long 2 NQ 3730.0, 3729.75, +3.25, +2.0
Long 2 TF 1203.2, 1204.4, +0.5, +0.2
PM trades:
Short 2 TF 1204.1, 1204.1, +0.5, +0.7
Total NQ +18.5
Total TF -0.3
A Trade Plan is designed first to identify the plentiful appearance of certain technical models whose outcome is very consistent. Without such a plan, you flounder with tape reading and intuition guided by an oft too random selection of technical trade tools. But sometimes your Trade Plan does not perform according to the typical model outcome. At such times, you have a Trade Management Plan that limits your losses. Today, TF traded outside the parameters of typical model outcome, but I took the trades I was supposed to take, and cannot fault a plan that works with good consistency. However, losses in the TF did compel me to exit trades in the NQ a bit earlier than intended as a way to insure that I would cover losses in the TF. Every trade should ideally stand on its own. ...easier said than done...! Stay focused.
PM Addendum: Sometimes it pays to be in front of the screen all day. Today would have been one of those days, as the model that failed to appear in the AM frame for the TF contract appeared in the PM frame at the piano drop low. I didn't return till the subsequent bounce was hitting resistance and was a short at that moment had become counter trend to the reversal. But that's ok. In general, since starting to limit trades to the 1st Frame, I've generally had better overall weekly results, and a more relaxed disposition to trading. With Serial Sequent, the opening action with its greater overall volatility is now accessible and shows better production. Stay disciplined.
Wed Mar 5 Trades & Journal
20140305
Long 1 TF 1204.7, -1.0
Long 2 TF 1202.3, 1202.3, +2.5, +2.2
Long 2 TF 1204.3, 1204.2, -0.5, +0.5
Long 2 TF 1202.1, 1202.1, +0.5, +1.6
Long 1 TF 1202.0, +2.2
Total TF +8.0
As difficult as it was to find turns and reversals yesterday was it easy to do so today. ...if your Trade Plan was inclusive of 1st Frame reversal models. And if so, you have to be willing to follow that plan in the blink of a moment when those models appear at the right edge of your video screen. Have a Trade Plan that demonstrates the market's propensity to repeat itself in confluent models. Trade your plan regardless of the news and any trend prejudice that creeps into your thinking.
Long 1 TF 1204.7, -1.0
Long 2 TF 1202.3, 1202.3, +2.5, +2.2
Long 2 TF 1204.3, 1204.2, -0.5, +0.5
Long 2 TF 1202.1, 1202.1, +0.5, +1.6
Long 1 TF 1202.0, +2.2
Total TF +8.0
As difficult as it was to find turns and reversals yesterday was it easy to do so today. ...if your Trade Plan was inclusive of 1st Frame reversal models. And if so, you have to be willing to follow that plan in the blink of a moment when those models appear at the right edge of your video screen. Have a Trade Plan that demonstrates the market's propensity to repeat itself in confluent models. Trade your plan regardless of the news and any trend prejudice that creeps into your thinking.
Tues Mar 4 Trades & Journal
20140304
Short 2 YM 16348, 16348, +7, +17
Long 2 YM 16322, 16324, +7, +20
Short 1 TF 1200.0, -1.4
Short 2 NQ 3715.75, 3715.75, -1.0, -1.0
Short 1 TF 1203.2, -1.4
Short 1 TF 1203.6, +2.8
Short 1 TF 1204.6, -1.4
Short 2 TF 1206.3, 1206.0, -0.1, +0.5
Short 2 TF 1206.9, 1206.6, +1.0, -0.4
Short 2 TF 1206.9, 1207.1, -0.6, -0.4
Short 2 TF 1207.5, 1207.7, +1.2, +1.0
Short 1 NQ 3719.25, +3.0
Long 2 NQ 3714.0, 3714.25, +1.5, +2.0
Short 1 TF 1208.9, -0.5
PM trades:
Long 2 NQ 3712.75, 3712.75, +2.0, -1.25
Long 1 TF 1207.0, -0.0
Long 2 NQ 3710.25, 3709.75, -2.0, -1.0
Long 1 TF 1205.3, -0.3
Short 2 TF 1205.0, 1205.0, +0.4, -0.4
Total YM +51
Total NQ +2.25
Total TF -0.0
Most notable trait of the Persistent Trend Day....? They're unbelievable. How could anyone get in sync with such shallow zigzag pullbacks in order to position in-trend plays.... ? ...and yet, that's exactly what would have worked best in the skyrocketing TF contract. And along the way of the 1st Frame moon launch, I ignored all those in favor of counter-trend fades, which initially got me in the hole, and required hard work to just dig out of. The other mistake... giving up too quickly when the deeper pullbacks in the laggards like NQ afforded sweet entries at clear support zones. Laggards tend to play catch up in the company of such dramatic Persistent Trend Up leadership as displayed today by TF. With such models, it's far more likely that the laggards will gather steam than the leader give up such remarkable gains. But your faith in slow moving laggards is all the more easily shaken as you watch the leader push on, making you feel even more stupid for not playing it in-trend. So, you let go of the laggard after a sweet pullback entry way too soon, and miss out on its subsequent attempts at catch-up action to new price extremes. You'd think that seeing this model play out so often would temper some of its 'unbelievable' character aspects. But no, it's fresh each time. The Analyst and the Accountant replay their same emotions every time on such days, too. Don't expect them to change. They cannot change or be changed. They cannot change or be changed. They cannot change or be changed. That's why we leave the trading to the Trader, who is assigned to execute on models at the right edge of the video screen despite the flood of disbelief and apprehension. Be the Trader. Stay disciplined.
PM Addendum:
Faced multiple stp-outs trying to find TransitionTime turns and Last Texaco's. Can at least say that I stuck to Plan and traded the Plan, but the Plan failed to accommodate the action. Looking forward to manana for some fresh challenges....
Short 2 YM 16348, 16348, +7, +17
Long 2 YM 16322, 16324, +7, +20
Short 1 TF 1200.0, -1.4
Short 2 NQ 3715.75, 3715.75, -1.0, -1.0
Short 1 TF 1203.2, -1.4
Short 1 TF 1203.6, +2.8
Short 1 TF 1204.6, -1.4
Short 2 TF 1206.3, 1206.0, -0.1, +0.5
Short 2 TF 1206.9, 1206.6, +1.0, -0.4
Short 2 TF 1206.9, 1207.1, -0.6, -0.4
Short 2 TF 1207.5, 1207.7, +1.2, +1.0
Short 1 NQ 3719.25, +3.0
Long 2 NQ 3714.0, 3714.25, +1.5, +2.0
Short 1 TF 1208.9, -0.5
PM trades:
Long 2 NQ 3712.75, 3712.75, +2.0, -1.25
Long 1 TF 1207.0, -0.0
Long 2 NQ 3710.25, 3709.75, -2.0, -1.0
Long 1 TF 1205.3, -0.3
Short 2 TF 1205.0, 1205.0, +0.4, -0.4
Total YM +51
Total NQ +2.25
Total TF -0.0
Most notable trait of the Persistent Trend Day....? They're unbelievable. How could anyone get in sync with such shallow zigzag pullbacks in order to position in-trend plays.... ? ...and yet, that's exactly what would have worked best in the skyrocketing TF contract. And along the way of the 1st Frame moon launch, I ignored all those in favor of counter-trend fades, which initially got me in the hole, and required hard work to just dig out of. The other mistake... giving up too quickly when the deeper pullbacks in the laggards like NQ afforded sweet entries at clear support zones. Laggards tend to play catch up in the company of such dramatic Persistent Trend Up leadership as displayed today by TF. With such models, it's far more likely that the laggards will gather steam than the leader give up such remarkable gains. But your faith in slow moving laggards is all the more easily shaken as you watch the leader push on, making you feel even more stupid for not playing it in-trend. So, you let go of the laggard after a sweet pullback entry way too soon, and miss out on its subsequent attempts at catch-up action to new price extremes. You'd think that seeing this model play out so often would temper some of its 'unbelievable' character aspects. But no, it's fresh each time. The Analyst and the Accountant replay their same emotions every time on such days, too. Don't expect them to change. They cannot change or be changed. They cannot change or be changed. They cannot change or be changed. That's why we leave the trading to the Trader, who is assigned to execute on models at the right edge of the video screen despite the flood of disbelief and apprehension. Be the Trader. Stay disciplined.
PM Addendum:
Faced multiple stp-outs trying to find TransitionTime turns and Last Texaco's. Can at least say that I stuck to Plan and traded the Plan, but the Plan failed to accommodate the action. Looking forward to manana for some fresh challenges....
Mon Mar 3 Trades & Journal
20140303
Short 2 TF 1173.9, 1174.0, +1.3, +0.5
Short 1 TF 1174.8, +1.7
PM trades:
Short 1 TF 1173.4, -0.3
Short 2 TF 1173.9, 1173.3, +1.5, +0.5
Total TF +5.2
It's best to trade with a profit goal for the day, and/or for the frame. Mine is 5 pts TF equivalent for the frame or the day. In early going when you hit, say, 3 pts in the TF, you can feel a mix of pressure to get the next trade right and angst over losing what you have. Going from +3 in the early going down to +1 while trying to get up to +5 is a discouraging thing. The Accountant speaks up loudly at such moments, and shouts out "You idiot!!" Today, I could hear those words from him even before he had to say it, and as a result missed a Trade Entry Model in the NQ that would have made my goals in the 1st Frame without even having to come back and trade again the Last Frame. After that, no other action fit my list of entry models. ....until the PM frame arrived. I'd like to say it was patience, but in truth, I simply came back to the screen and it was there talking to me.... Stepping away from the screen for while is not usually a bad idea, even if you miss a trade while you're gone.... Stay focused.
Short 2 TF 1173.9, 1174.0, +1.3, +0.5
Short 1 TF 1174.8, +1.7
PM trades:
Short 1 TF 1173.4, -0.3
Short 2 TF 1173.9, 1173.3, +1.5, +0.5
Total TF +5.2
It's best to trade with a profit goal for the day, and/or for the frame. Mine is 5 pts TF equivalent for the frame or the day. In early going when you hit, say, 3 pts in the TF, you can feel a mix of pressure to get the next trade right and angst over losing what you have. Going from +3 in the early going down to +1 while trying to get up to +5 is a discouraging thing. The Accountant speaks up loudly at such moments, and shouts out "You idiot!!" Today, I could hear those words from him even before he had to say it, and as a result missed a Trade Entry Model in the NQ that would have made my goals in the 1st Frame without even having to come back and trade again the Last Frame. After that, no other action fit my list of entry models. ....until the PM frame arrived. I'd like to say it was patience, but in truth, I simply came back to the screen and it was there talking to me.... Stepping away from the screen for while is not usually a bad idea, even if you miss a trade while you're gone.... Stay focused.
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