20140731
Short 1 TF 1133.1, +1.5
Short 1 TF 1132.3, -0.7
Short 1 TF 1133.2, -0.7
Short 2 TF 1134.2, 1133.8, +2.5, +0.7
Short 1 ES 1949.5, +4.0
Long 1 TF 1126.9, -0.5
Short 1 TF 1126.1, +1.0
Total ES +4.0
Total TF +3.8
The action of a big bear move after a big opening gap can be a little confusing. The initial choppiness seems a tug-a-war between the ensuing trend and the immediate oversold condition such gaps produce. That can make breakdown triggers less inviting, and today, I let those feelings about the action deter me from the better trades. When the big bear comes... and eventually it will... Risks in taking more of the breakdown triggers that action might be choppy must be endured. For those breakdown triggers that do appear within the Trade Plan, have confidence. They're no riskier than the bounces and far less risky than fading the unraveling price decline. Come the market prepared to act decisively. Trade the Plan, not the action.
