Fri May 30 Trade Summary

201405230
Short 1 TF 1138.1, +1.3
Long 2 TF 1137.1, 1137.0, +1.7, +1.0
Short 1 TF 1138.6, +1.4
Long 1 NQ 3734.25, +5.0
Total NQ +5.0
Total TF +5.4

Thurs May 29 Trades & Journal

201405229
Short 1 TF 1139.3, -0.4
Long 1 TF 1138.3, -0.7
Long 2 TF 1137.6, 1137.6, -0.7, -0.7
Long 3 TF 1136.4, 1136.4, 1137.2, +1.0, +1.5, +1.0
Long 2 TF 1135.7, 1136.0, -1.4, -0.7
Long 2 TF 1134.5, 1134.0, -0.0, -0.7
Long 3 TF 1133.3, 1133.4, 1133.0, -0.7, -0,7, +1.0
Long 3 TF 1133.1, 1133.1, 1133.1, +1.0, +1.7, +0.9
Long 1 TF 1134.5, -0.5
Short 2 TF 1135.1, 1135.1, +0.7, -0.4
Short 2 TF 1138.1, 1137.9, +0.8, +1.0
Total TF +4.4

Patience is such an important attribute in trading. Problem is.... when do you apply it, and when do you strike quickly at the fleeting opportunities...? Today, for at least one set of critical stp-outs, I ignored a guide rule of this method's entry levels and should have been more patient before entering. But later on, when it required a quick strike, I hesitated and the entry opportunity was quickly lost. One mistake tempering me in the wrong direction for the 2nd. This is how the market affects you. ...or should I say, how your own trading errors can encourage you to do in subsequent entries the repair work you should have applied earlier, and are misapplying now. This is trading. "That was then, this is now", has never been more important to understand and practice. Stay disciplined.

Wed May 28 Trades & Journal

201405228
Long 1 YM 16631, -7
Long 2 TF 1134.6, 1134.6 , +1.2, +2.7
Long 1 TF 1133.5, -0.5
Long 2 TF 1131.6, 1131.9, +1.0, +1.0
Long 1 TF 1166.3, -0.6
Long 2 YM 16606, 16608, +12, -5
Long 1 NQ 3712.0, -2.0
Long 2 TF 1131.1, 1131.5, +1.0, -0.5,
Long 1 TF 1130.9, -0.5
Short 1 YM 16634, -3
Short 1 TF 1134.3, -0.5
Short 2 TF 1135.0, 1134.9, -0.5, -0.3
Short 2 TF 1135.2, 1135.4, -0.3, +0.5
Total YM -3
Total NQ -2.0
Total TF +3.7

The quality of market action changes from day to day. Some days are brutally choppy, some impulsive and trending. Frustration can build when entry models that normally succeed so well get chewed up by today's current action. Don't become frustrated with choppy action. Just step back. Some days are better for trading than others. When all you're doing is giving back your earlier profits, you may be trading for revenge or desperation... that kind of stubborn refusal that sets in when you're sure your next trade is going to get it all back. It probably won't. In fact, you'll probably just lose more. Quit and come back to trade another day....

Tues May 27 Trade Summary

201405227
Short 1 TF 1133.9, -0.5
Short 3 YM 16645, 16645, 16646, -5, -5, -4
Long 2 TF 1134.3, 1134.5, +0.7, +2.0
Short 1 TF 1137.8, -0.5
Short 4 TF 1138.1, 1138.6, 1138.8, 1138.8, -0.0, +0.7, -0.6, +0.7
Short 1 TF 1139.0, -0.8
Short 1 TF 1139.7, -0.6
Short 2 TF 1141.0, 1141.5, -0.9, +0.7
Short 3 TF 1143.4, 1143.4, 1143.4, 1143.2, +0.7, +1.0, +1.6, +0.7
Total YM -14
Total TF +4.9

Fri May 23 Trades & Journal


201405223
Long 1 YM 16533, -1
Long 2 TF 1111.7, 1111.7, +0.7, +2.0
Long 2 NQ 3646.75, 3646.75, +2, +6.0
Short 1 TF 1117.8, +0.5
Long 1 TF 1118.4, +2.0
Total YM -1
Total NQ +8.0
Total TF +5.2

Took the inflection breakout trade today, and although I was only in with a 1-lot, was at least in the game and fulfilled Trade Plan requirement. Want to wish all a peaceful and thoughtful Memorial Weekend. We honor all those who have fought for our country, both the living and especially the dead, who have made the ultimate sacrifice on the altar of freedom. We salute them all, and say: Freedom First!! There is no peace without it. Semper Fi.

Thurs May 22 Trade Summary

20140522
Short 1 TF 1102.1, -0.3
Short 2 TF 1108.9, 1109.2, -0.7, +0.7
Short 2 NQ 3644.75, 3644.75, -1.5, -1.5
Short 1 ES 1888.75, +2.0
Long 1 YM 16523, -6
Long 2 TF 1104.7, 1104.7, -0.7, -0.7
Long 2 TF 1104.1, 1104.1, -0.7, -0.7
Long 3 TF 1103.2, 1103.2, 1103.2, +1.0, +3.0, +4.5
Total ES +2.0
Total YM -7
Total NQ -3.0
Total TF +5.4

Wed May 21 Trade Summary

20140521
Short 1 YM 16415, -6
Long 2 TF 1102.0, 1102.1, +0.7, +1.7
Long 2 NQ 3617.25, 3617.5, +2.0, -0.25
Long 2 NQ 3616.25, 3617.5, +5.0, +2.0
Short 1 NQ 3625.25, -0.5
Long 2 TF 1199.5, 1199.0, -1.0, -0.5
Long 2 TF 1198.7, 1198.8, +0.5, +1.5
Long 1 TF 1197.0, +0.5
Total YM -6
Total NQ +8.25
Total TF +3.5

May 20 Trades & Journal

20140520
Long 3 TF 1104.3, 1103.8, 1103.0, -0.0, -1.4, -1.4
Long 2 TF 1101.4, 1101.4, +1.0, -1.0
Long 2 TF 1100.1, 1199.9, +1.3, -0.4
Long 4 TF 1197.4, 1198.1, 1197.0, 1197.0, +2.0, +1.0, +3.5, +2.7
Short 2 YM 16425, 16425, -6, -3
Long 2 TF 1196.1, 1195.6, +0.7, -0.7
Short 1 TF 1198.4, +1.7
Long 1 TF 1198.9, +1.5
Total YM -9
Total TF +10.5

Sometimes persistence is better than brilliance. Today, found myself counter trend trading too early into the TF's decline and had to dig myself out. The final was was the sweetener and risked going 'all-in' on 4. Was only able to find one TF short entry to play an in-trend position, but missed the NQ which afforded an excellent short at the Kilroy. Keep your focus across the board at such times. It's not divided, it's just broad enough to consider the positions of all four contracts, which can be done at a glance. Give up your losses quickly in your mind. While nursing the smarts of a loser, the winner is getting away.

Mon May 19 Trades & Journal

20140519
Short 2 TF 1102.0, 1102.9, -1.4, -0.5
Short 2 TF 1104.9, 1104.9, 1105.2, -0.7, -0,7 -1.4
Short 3 TF 1105.8, 1105, 8, 1105.8, +2, 0. +2.0, +2.0
Long 2 TF 1006.9, 1006.9, +0.4, -0.4
Short 1 TF 1106.5, +1.2
Short 2 TF 1108.5, 1109.5, -1.4, -0.5
Long 2 TF 1109.9, 1109.9, +0.5, +0.8
Short 1 TF 1110.5, +0.8
Total TF +2.7

A pair of early entries cost me today, and mostly treading water thereafter. The Persistent Trend model is typically characterized by TF leadership, and when in a runaway mode, some emphasis should be shifted to the NQ and YM, as today offered good pullback opportunities in both with which to participate with the trend. I didn't see the YM and was late to the NQ as it got away from me. This was mostly all a lack of alertness, and not being ready for the intensity of the game. Resolved to be better focused tomorrow. Stay disciplined.

Fri May 16 Trades & Journal

20140516
Long 1 NQ 3562.5, -2.0
Short 1 TF 90.9, +2.0
Long 2 NQ 3552.5, 3552.5, +2.0, +7.0
Short 1 TF 1190.9, +2.0
Total NQ +7.0
Total TF +4.0

A final trade entry at the TrendCheck would have put the total up, but Friday has it's own Trade Plan anomaly: close the shop and get away from the screen early....if possible. Wishing all a good weekend...

Thurs May 15 Trades & Journal

20140515
Long 1 1189.9, +2.0
Long 2 YM 16505, 16507, -5, -7
Long 2 NQ 3572.0, 3572.0, +2.0, -2.5
Long 2 TF 1182.5, 1182.7, -0.5, -0.7
Long 3 TF 1182.4, 1182.4, 1182.4, +1.5, +1.5, +1.0
Long 1 TF 1183.7, -1.0
Long 1 TF 1182.7, -0.7
Long 2 NQ 3556.5, 3556.5, +2.0, -2.0
Long 1 TF 1179.2, 1179.4, +1.0, +1.5
Long 1 TF 1182.0, +2.0
Long 1 TF 1181.9, -0.7,
Long 1 TF 1181.5, +2.0
Short 1 TF 1185.8, +1.7
Total YM -12
Total NQ -0.5
Total TF +10.6

At one point near the lows, I misread a signal and got in on what would have been too early for my trade plan, but the momentum indicator was reading go and the trade worked. So a couple points of today's net was more attributed to that than skill or plan adherence. One of the longs in the TF should have been taken in the NQ where the signal was complete. Under certain parameters, borrowing signals from one contract and trading in another is a great tool. But I readily admit that I got the wrong signal and got in the TF instead on pure luck for that trade. ...but that trade only. Big swings mean big profits but can also mean tough losses. If the method for trade entry models is valid, it should work in high volatility as well. But trade within your means and your experience. A day like today can just be watched sometimes. As those days too hot to handle can be waived in lieu of tomorrow's action instead. Stay focused.

Wed May 14 Trade Summary

Trade Summary
20140514
Short 2 TF 1112.6, 1112.6, +0.7, +1.7
Long 2 YM 16629, 16629, +7, -7
Short 1 NQ 3609.0, -2.0
Short 1 NQ 3611.0, -2.0
Short 3 TF 1115.0, 1115.1, 1115.1, +1.7, +0.7, +0.7
Long 2 NQ 3603.75, 3602.75, -2.0, -1.0
Long 1 NQ 3601.0, -2.0
Long 1 TF 1106.1, +2.2
Total YM -0
Total NQ -9.0
Total TF +7.7

Tues May 13 Trades & Journal

20140513
Long 2 YM 16677, 16677, +7, -7
Long 1 TF 1127.8, +1.2
Short 1 TF 1131.9, +1.3
Short 1 TF 1131.9, +0.5
Long 1 TF 1130.7, -0.7
Long 1 ES 1894.25, +2.0
Long 1 YM 16683, +10
Long 1 NQ 3616.5, +5.0
Long 2 TF 1126.6, 1126.6, +1.0, +2.0
Total ES +2.0
Total YM +10
Total NQ +5.0
Total TF +5.3

Two Persistent Trend Days seldom follow each other in a row, and so today offered what yesterday lacked, a lot of 1st frame swing opportunities. Without an exacting Trade Plan replete with entry models for such swings, playing this kind of whipsaw volatility would be impossible. Today, I even played the ORB breakout opp, although unlike yesterday, this one gave no more production that what it took to pay for the trade. ...but at least I was in on that game. Yesterday's TF ORB breakout opp was about the only sure way to participate in the TF bull explosion. So naturally, I get the religion back today.... doh! Stay disciplined. Report to work on time, and be ready for the tasks at hand. Be focused. Be the Plan.

Mon May 12 Trades & Journal

20140512
Short 2 TF 1120.2, 1120.5, -0.5, +1.0
Short 1 YM 16640, +10
Short 2 TF 1122.9, 1122.8, +0.7, -0.7
Short 2 TF 1123.5, 1124.3, -1.4, -0.5
Short 3 TF 1125.3, 1125.2, 1125.6, -0.7, -0.6, -0.4
Short 2 TF 1129.8, 1129.8, -0.7, -0.7
Short 4 TF 1130.5, 1130.5, 1130.5, 1130.6, -0.3, -0.3, -0.3, -0.3
Short 4 TF 1130.2, 1130.2, 1130.2 1130.2, +1.5, +1.5, +2.0, -0.6
Long 2 NQ 3594.75, 3594.75, +2.0, -0.0
Long 1 YM 16623, +15
PM trades:
Long 1 TF 1126.9, -0.1
Long 1 TF 1126.9, +1.2
Total NQ +2.0
Total YM +25
Total TF -0.2

Big gap-ups are hard to buy. Even when fading the gap is a known death trap most of the time, contrary to many a day trader's trade plan, that awareness doesn't make entering a trade as gap-n-go any easier. But today, I had little excuse because the TF's ORB Pennant was clearly in my trade plan as a buy entry, and would have positioned me to have at least captured part of the explosive trend that I only fought to fade most of the way up, and was unable to find buy entries for with its total lack of 1st frame pullback action. Thus, I was left with losses because I failed the plan. And nothing was better positioned for a Persistent Trend Day Up than the TF contract today, especially with all the bearish divergence it has displayed in the daily frame while unable to spark a true broad market sell-off. If it can't start a trend down, it has nowhere to go but up. Nothing stays the same for long... The early breakout trades take total focus and willingness to risk the probabilities that they work more often than they fail, and often work best when least desirable or believable. Get serious at the open. Put your game face on. Stay disciplined.

Addendum:
The 1st Chance Texaco setup here in the PM at least got me healthy, but approached it with so little confidence that was unable to hold it as potential runner. Persistent Trend Day Models are always a challenge, and having missed the Opening Breakout model, this day not offering so much more to work with, as is typical of this day model. Stay focused.

Fri May 9 Trade Summary

Trade Summary
20140509
Short 2 TF 1191.3, 1191.2, -0.5, -0.5
Short 2 TF 1192.8, 1192.8, +1.0, +2.0
Short 1 TF 93.0, -0.5
Short 2 NQ 3528.5, 3528.5, +2.0, +6.5
Short 1 TF 1193.5, +2.0
Short 1 NQ 3530.5, +6.0
Short 1 TF 1195.7, -0.4
Short 1 YM 16502, -2
Long 2 NQ 3533.25, 3533.25, -2.0, -2.0
Long 2 TF 1192.5, 1192.5, +1.0, +2.0
Total NQ 10.5
Total YM -2
Total TF +6.1

Thur May 8 Trades & Journal

20140508
Long 1 TF 1107.5, -0.2
Long 1 TF 1107.4, +2.5
Short 2 TF 1110.4, 1110.8, -0.5, +0.7
Short 2 TF 1110.2, 1110.2, +1.0, +1.8
Short 1 TF 1110.8, +0.6
Long 2 YM 16533, 16533, -7, -7
Short 2 TF 1115.1, 1114.9, +0.7, -0.4
Short 2 NQ 3667.0, 3667.0, -2.25, -2.25
Short 2 TF 1116.4, 1116.4, +0.7, +2.5
Long 1 TF 1110.6, -0.3
Long 1 TF 1110.4, +2.0
Total YM -14
Total NQ -4.5
Total TF +11.1

Although the counter-trend fades showed good production at selected levels, the best trade of the day was from the opening in the NQ. I was late to the screen and could only watch it push through the breakout level of a variation of the 3-Bar ORB. As I write this summary post-1st frame, it's still going as the signs of a Persistent Trend Day Up continue to appear. You can't get in a trade if you're not in front of the screen... Get on the job...the Trader has work to do....

Wed May 7 Trade Summary

20140507
Long 2 YM 16394, 16392, +7, +12
Long 1 TF 1102.9, +2.0
Long 1 TF 1102.5, -0.7
Long 2 TF 1100.4, 1101.0, +2.0, +0.7
Long 1 TF 1100.2, -0.4
Long 2 TF 1100.4, 1100.5, +0.7, -0.7
Long 1 TF 1194.6, -0.7
Long 2 TF 1193.7, 1193.8, -0.4, -0.4
Long 2 YM 16337, 16337, -5, -5
Short 1 YM 16338, +20
Short 1 YM 16346, -5
Short 2 TF 1194.5, 1194.7, -0.5, -0.5
Short 2 TF 1194.6, 1194.9, -1.0, +1.0
Long 1 TF 1195.7, +3.0
Total YM +24
Total TF +4.1

Tues May 6 Trades & Journal

20140506
Long 1 TF 1117.9, -0.9
Long 1 YM 16408, -10
Short 2 TF 1116.6, 1116.7, -0.5, -0.5
Short 2 NQ 3589.25, 3589.25, +2.0, +5.0
Short 2 TF 1116.6, 1116.6, +0.7, -0.7
Short 1 TF 11117.0, -0.7
Short 2 YM 16395, 16395, +7, -2
Short 1 YM 16399, -3
Short 2 YM 16405, 16406, +40, +7
Long 2 YM 16365, 16364, +10, +7
Total NQ +7.0
Total YM +56
Total TF -2.6

A frame without TF profits is like a day without sunshine.... You have to stay very alert. Today's initial bullish 3-Bar ORB play turned quickly into a bearish Matched Highs ORB short, but I was caught with eyes in headlights and could't get my hat turned back around to get short where I was getting stp'd out. That was all the difference in at least getting to b/e in the TF today, and netting some better profit for the total. Re-live your mistakes. Then rehearse what you should have done. It's like a new dance move. Be prepared when the music changes like that again. When you only trade the 1st frame, there's very little excuse not to stay focused....

Mon May 5 Trades & Journal

20140505
Long 1 TF 1110.1, +2.5
Short 2 NQ 3562.25, 3562.5, +4.0, +2.0
Short 1 TF 1115.1, -0.2
Short 1 NQ 3570.75, -1.0
short 1 TF 1119.0, +1.5
Short 1 TF 1121.4, +1.2
Total NQ +5.0
Total TF +5.0

The guidance of a Trade Plan means certain criteria need be met before entering trades. Why have a plan if you're going to then ignore a trade's entry model requirements? Trade the Plan, Be the Plan. Know no other.

Fri May 2 Trades & Journal

20140502
Long 2 TF 1125.5, 1125.5, +1.0, +2.0
Long 2 NQ 3585.0, 3585.0, +2.0, -2.0
Long 1 NQ 3582.75, -2.0
Long 1 TF 1125.3, +2.0
Total NQ -2.0
Total TF +5.0

The ORB is a singularity, nuclear in its implication. Even the subtlest of setup bars can be a characteristic gesture of the greater trend. So it is with such ValhallaFutures concepts as the 3-Bar ORB and the ORB Matched High/Low. Today's ORB play was an immediate payoff, and targets were based on the better volatility we've been experiencing, plus have a default target of +4.0 for the initial OCO entry that was out of the way for the ensuing action. Am always eager to quit trading early on Friday's when/if a minimum quota is achieved. Nothing wrong with being done with trading in the first 30 minutes... and a good weekend to all....

Thurs May 1 Trades & Journal

Trade Summary
20140501
Short 1 NQ 3586.75, +6.0
Short 1 TF 1120.7, +2.0
Long 1 YM 16506, -7
Long 1 TF 1113.4, -0.0
Long 1 TF 1112.0, -0.0
Long 2 TF 1113.3, 1113.1, -0.6, -0.6
Long 2 TF 1113.3, 1113.3, -0.2, -0.2
Long 2 TF 1114.0, 1114.0, +2.0, -0.0
Long 1 TF 1114.1, +1.0
Long 1 TF 1112.4, -0.7
Long 1 TF 1111.1, -0.6
Long 1 TF 1111.2, -0.3
Short 1 TF 1112.8, -0.6
Short 2 ES 1875.5, 1876.0, -1.5, -.75
Short 2 TF 1116.2, 1116.1, -0.6, -0.5
Short 2 TF 1118.2, 1118.6, -0.7, -0.4
Short 2 TF 1122.5, 1122.5, -0.5, -0.5
Short 3 TF 11230. 1123.0, 1122.8, +2.0, +1.5, +1.2
Short 1 TF 1129.5, -0.1
PM Trades
Long 2 TF 1118.7, 1118.6, -0.5, -0.5
Long 2 TF 1117.3, 1117.3, +0.7, -0.4
Total YM -7
Total ES -2.25
Total NQ +5.0
Total TF +1.9

Volatility is an attraction, like moth to flame. Today, the longs taken at the lows were well within Trade Plan, but the volatility kicked me out many times. Then I fell to a fatal flaw I should know better.... that of fading the 2nd trend after the lows were in, as sort of a revenge to participate having missed the Low-of-Day that I had tried so hard to position for. The final set of shorts at the Kilroy saved the day from a net loss, but is easy to see my poor trading in the number of entries taken. The desire to participate when the swings are so volatile can be like a fever that influences subsequent trading. Once the ice is broken, then one bad trade can follow the other. What's bothering you most along the way is the profit you're missing, not the losses you take. And meanwhile, the losses start to pile up. Stay calm. Assess the situation. You never really 'miss' the market's events. There's a better opportunity in a few minutes and a different outlook to go with it.