20140714
Short 3 NQ 3916.5, 3916.5, 3818.25, -0.75, +0.25, +3.0
Short 2 NQ 3919.5, 1919.0, +1.0, -1.0
Long 3 TF 1161.3, 1161.1, 1160.7, -0.7, +0.7, +1.3
Long 2 TF 1159.9, 1159.6, +1.0, -0.6
Long 1 TF 1159.8, -0.8
Long 1 TF 1159.3, 1159.1, +1.5, +0.7
Total NQ +2.25
Total TF +3.1
Patience is a key element to successful trading. ...but so is striking quickly at the right time, so also a key is timely exits near the exhaustion or resistance levels. ...but when to apply patience is clearly a difficult thing to time. One thing to look for in applying some patience, is the emotional context of feeling compelled to get rid of a position that struggled so hard to finally turn. By the time it finally does, you're mentally fried, and know you might not be able to handle the even bigger emotional strain of watching it all dissipate and give up such hard earned profits even if the target hasn't been met. Then let entries at turns that really annoy and frustrate trigger a rule of behavior: once out of a messy turn but into the advancing trends with some minimum profits finally in hand, keep your trailing stp's well back. Give it some rope. To the extent of its troubles in making the turn, is potentially a stretch of undisturbed excursion. Relax. Their should be a more rewarding impulse type action when the fire of the budding trend finally takes hold in the awareness of other traders, who have been as deeply affected by the strain of the turn as have you.
