20140616
Long 1 TF 1156.3, +2.0
Short 1 ES 1929.75, -1.0
Short 1 TF 1160.7, -0.5
Long 1 TF 1161.8, -0.4
Short 1 ES 1932.75, -0
Long 2 TF 1160.0, 1159.6, +0.7, -0.7
Long 2 NQ 3775.25, 3775.25, +2.0, +4.0
Long 2 TF 1157.9, 1158.1, +1.5, +0.5
Long 1 TF 1156.8, +1.3
Total ES -1.0
Total NQ +6.0
Total TF +4.4
The Trade Plan can often conflict with intuitive insight. But this discrepancy must be used for a longer term benefit. Lifting the ban against intuitive tape reading because you're just so sure you know what the market is trying to do betrays an admission that in reality, the market can surprise you at any point. Today's high was just such a place for that conflict today. The signal to buy that last breakout was definitely thin with the momentum already pointing down and the Pivot Ledge from the all-session frames staring dead ahead. But I have worked very hard to put breakout triggers first into the Plan, and then into practice, that I deemed it more important to take a 1-lot according to the plan than introduce intuition into the regime. Once introduced, it's so hard to get rid of... and before you know it, you are back to tape reading full-time. Don't let yourself drift back to tape reading. Stick to your Trade Plan. And instead, at those places where you believed your intuitive insight trumped the effectiveness of your Trade Plan, dwell on conditions after the market day is over to study the landscape for a possible filter that should have been there to restrict the Plan at the proper places. Stay disciplined...
