20140425
Short 1 YM 16379, +17
Short 1 YM 16354, -2
Short 2 YM 16356, 16357, +12, +7
Long 2 TF 1128.7, 1128.7, +1.0, +1.6
Short 1 TF 1133.5, +1.2
Long 2 NQ 3524.0, 3524.0, -1.0, -1.0
Long 2 NQ 3525.5, 3525.5, -0.5, -1.0
Total NQ -3.5
Total YM +34
Total TF +3.8
One of the key traits a trader needs is 'heart'. ...the ability to stick with a position while it pauses and retests both your entry price and your patience... ...the ability to ignore other factors like what the other contracts might or might not be doing and just let the position work on its own once entered. ....the heart to take multiple contracts when the appropriate model appears... etc. Today, I had no heart for it, and jumped out at the slightest provocation, especially the YM where I was trading so small in the first place that there was no reason not to have risked holding those early shorts with multiple contracts longer. Some of this can come from just being tired. ...some from misreading the character of price changes, or 'tape action', as they say. ...and worst of all, some of this can come from a fear of being wrong. You have a decent week, and you're more afraid of breaking the streak than taking and managing the trades as their entry models appear. Get some rest... enjoy the weekend... return refreshed and focused to trade. ....
