Trade Summary
20140411
Short 1 TF 1112.2, -0.7
Long 1 TF 1114.4, -0.0
Short 2 NQ 3482.75, 3482.0, +5.0, +2.0
Long 2 YM 16018, 16014, -8, +7
Long 3 NQ 3663.5, 3663.5, 3664.5, -2.0, +2.0, +2.0
Long 3 TF 1115.9, 1115.9, 1115.7, -0.7, +0.7, +1.0
Long 2 NQ 3648.75, 3639.5, +5.0, +2.0
Long 1 YM 16989, -7
Long 1 TF 1113.3, +4.0
Total YM -8
Total NQ +16.0
Total TF +4.3
The change in character of the price action from day to day can be disturbing when trying to hold onto trades. Down in the lower frames of tick charts where positions are initially taken, a whiplash action can push one to the point of exiting trades too soon, or even getting stp'd out just on volatility whips alone. But the market will fulfill its appointed wave structure regardless of how sloppy the turns and climaxes are. Some stp-loss distance changes might be considered, but more importantly, if the trade model was valid, just stay with the position, regardless of how whippy the action seems to be. Let the pattern and the model play itself out. Things will eventually settle down as you yourself will. That is the opposite of what I did on an early long from an ORB Breakout Model entry this morning. I let the whippy action push me out of the best trade having been discouraged by the whiplash action of a poor one. Stay focused. If the trade if valid, give it the prescribed stp-loss risk it deserves. Take a couple of breaths, and just see it through. ...and a good weekend to all....
