20140627
Short 1 TF 1173.3, -0.6
Short 2 TF 1177.9, +0.7, +1.5
Long 1 NQ 3817.25, -1.5
Long 1 TF 1174.2, +1.0
Long 1 YM 16714, +15
Short 1 TF 1177.8, -0.0
Short 1 YM 16748, +7
Total NQ -1.5
Total YM +22
Total TF +2.6
The consequences of taking small 1-lot positions means you have no money management strategy, and the risks of making such positions into runners means you might lose your initial profits from the trade if the budding trend fails to run. Today again, but especially yesterday's first TF short entry, the 1-lot taken meant I missed the ensuing full excursion. Thereafter, as that same full excursion turned into a burning hot impulsive bear collapse, I was left looking for the next trade against the same trend I would have profited immensely by, had I had a runner with which to participate. There are certainly plenty of trades to take using the fractal study we call Serial Sequent within the 1st Frame of the day, but each extra trade taken is a fresh risk, and those signals that produced such great excursions are mostly wasted. Missing, as I did, from a premature 1-lot exit what turned out to be an impulsive in-trend excursion, left me counter-trend trading the violent thrusts of a bear climax... not an easy way to continue in profits, or to make up for the profits I missed by not having the extra units 'running'. Re-examine what is worthy of a 2nd contract that is currently not spelled out specifically enough in the Trade Plan. Whether better to add to the risk of the current position at hand with an additional contract, or add to the risk a bit later by having to take more trades at new junctures is the question. The answer should like in how good those early trade entry models are in the first place vs those at begin to appear as trends reach near-but-perhaps-not-quite-finished climactic finish. ...and a good weekend to all....
