Trade Summary
20140829
Long 2 TF 1164.0, 1164.1, -0.5, -0.6
Long 3 TF 1163.7, 1163.7, 1163.8, +0.7, +0.7, +1.6
Long 2 NQ 4068.5, 4068.75, -2.0, -2.0
Long 2 TF 1162.8, 1162.8, +0.7, +1.8
Short 2 TF 1164.9, 1164.6, +0.8, +0.7
Short 1 TF 1164.9, -0.1
Long 2 TF 1165.4, 1165.4, -0.0, -0.7
Short 1 NQ 40.67.75, -1.0
Long 2 NQ 4068.75, 4068.75, -0.0, +5.0
Long 1 TF 1165.8, +1.4
Total NQ -0.0
Total TF +6.5
Breakouts are an important part of any Trade Plan. But choosing the right ones can be a challenge. Remember: One key question to filter the model: is the impulse before you or behind you...? Today, at least can say was in the game, but with the slow grinding 2nd trend, I punted on size and stayed small on breakout positions...to the detriment of profits. Stay with the Plan. Keep practicing with breakout models. Allow confidence to grow with the subtlety of filter refinement. ...and a good weekend to all...
Thurs Aug 28 Trades & Journal
20140828
Short 2 NQ 4058.5, 4058.75, -1.0, +2.0
Long 1 TF 1161.4, +1.3
Short 1 NQ 4060.25, -1.25
Short 1 ES 1992.5, -1.0
Short 1 YM 17041, -1
Long 1 NQ 4060.75, -2.0
Long 1 NQ 4060.75, +3.0
Long 2 TF 1163.1, 1163.1, +0.5, +1.5
Long 1 TF 1162.5, +1.0
Total ES +1.0
Total NQ +0.75
Total TF +4.3
Getting out too early is one of the worst traits in trading to suffer from. Often, it can be solved by having more contracts to simply parse out. But that requires greater initial risk, or greater initial confidence that the trade entry models identify the bigger intraday swings successfully. When price action is more choppy and less volatile, as is often the case in mid-August doldrums and other lower volume periods, confidence expressed by longer holding periods or bigger positions can simply generate more losses. But when this period subsides, I need to re examine how to capture more of the available excursions from the solid entry models now being employed. Stay disciplined.
Short 2 NQ 4058.5, 4058.75, -1.0, +2.0
Long 1 TF 1161.4, +1.3
Short 1 NQ 4060.25, -1.25
Short 1 ES 1992.5, -1.0
Short 1 YM 17041, -1
Long 1 NQ 4060.75, -2.0
Long 1 NQ 4060.75, +3.0
Long 2 TF 1163.1, 1163.1, +0.5, +1.5
Long 1 TF 1162.5, +1.0
Total ES +1.0
Total NQ +0.75
Total TF +4.3
Getting out too early is one of the worst traits in trading to suffer from. Often, it can be solved by having more contracts to simply parse out. But that requires greater initial risk, or greater initial confidence that the trade entry models identify the bigger intraday swings successfully. When price action is more choppy and less volatile, as is often the case in mid-August doldrums and other lower volume periods, confidence expressed by longer holding periods or bigger positions can simply generate more losses. But when this period subsides, I need to re examine how to capture more of the available excursions from the solid entry models now being employed. Stay disciplined.
Thurs Aug 27 Trade Summary
20140827
Long 2 TF 1171.5, 1171.5, +0.5, -0.7
Long 2 TF 1170.8, 1171.0, +0.7, -0.7
Long 2 TF 1170.6, 1170.6, +0.5, +1.3
Long 1 ES 1995.25, +2.0
Short 1 TF 1173.6, -0.3
Long 1 TF 1173.9, -0.5
Short 2 NQ 4069.75, 4071.0, -2.75, -1.5
Short 1 ES 1997.5, -1.0
Long 2 TF 1174.2, 1174.2, 1174.2, -0.0, -0.4, -0.3
Total ES +1.0
Total NQ -4.25
Total TF +0.1
Long 2 TF 1171.5, 1171.5, +0.5, -0.7
Long 2 TF 1170.8, 1171.0, +0.7, -0.7
Long 2 TF 1170.6, 1170.6, +0.5, +1.3
Long 1 ES 1995.25, +2.0
Short 1 TF 1173.6, -0.3
Long 1 TF 1173.9, -0.5
Short 2 NQ 4069.75, 4071.0, -2.75, -1.5
Short 1 ES 1997.5, -1.0
Long 2 TF 1174.2, 1174.2, 1174.2, -0.0, -0.4, -0.3
Total ES +1.0
Total NQ -4.25
Total TF +0.1
Tues Aug 26 Trades & Journal
20140826
Long 1 TF 1164.2, +1.0
Short 3 NQ 4069.0, 4068.75, 4069.5, +1.5, -2.25, -1.25
Short 1 TF 1167.2, +1.5
Short 2 TF 1168.5, 1168.4, +0.5, -0.5
Short 2 TF 1168.6, 1168.9, -0.8, -0.5
Long 2 TF 1169.4, 1169.4, -0.2, -0.7
Long 2 TF 1169.8, 1169.8. -0.0, +1.5
Total NQ -2.0
Total TF +1.8
Persistent Trend Days are usually the most challenging... especially when the trend does more grind than swing. Today, I recognized where the best chances for the more impulsive aspect of the trend to begin correctly, but one of those failed with a stp-out, weakening my constitution to hold a 2nd contract position when the latter instance appeared. In other words, I let a previous loss invade the next trade position. As long as you are not 'revenge' trading, you have to let go of a previous loss and take the next signal cleanly, and then deal with it according to your management plan quite on its own. Give the Trader voice. His most insistent and persistent vocalization is the basic question the Trade Plan demands: "Has the model arrived?" ...and, "Is the model still intact?" If it is, then wipe the little nose-bleed from your wounded psyche, stay in the ring and counter-punch the next blow. Trading is more than a little like boxing. Sometimes it actually requires taking a hit to open your eyes into a winning position. Learn to love your losses. Let them be a pathway to your success.
Long 1 TF 1164.2, +1.0
Short 3 NQ 4069.0, 4068.75, 4069.5, +1.5, -2.25, -1.25
Short 1 TF 1167.2, +1.5
Short 2 TF 1168.5, 1168.4, +0.5, -0.5
Short 2 TF 1168.6, 1168.9, -0.8, -0.5
Long 2 TF 1169.4, 1169.4, -0.2, -0.7
Long 2 TF 1169.8, 1169.8. -0.0, +1.5
Total NQ -2.0
Total TF +1.8
Persistent Trend Days are usually the most challenging... especially when the trend does more grind than swing. Today, I recognized where the best chances for the more impulsive aspect of the trend to begin correctly, but one of those failed with a stp-out, weakening my constitution to hold a 2nd contract position when the latter instance appeared. In other words, I let a previous loss invade the next trade position. As long as you are not 'revenge' trading, you have to let go of a previous loss and take the next signal cleanly, and then deal with it according to your management plan quite on its own. Give the Trader voice. His most insistent and persistent vocalization is the basic question the Trade Plan demands: "Has the model arrived?" ...and, "Is the model still intact?" If it is, then wipe the little nose-bleed from your wounded psyche, stay in the ring and counter-punch the next blow. Trading is more than a little like boxing. Sometimes it actually requires taking a hit to open your eyes into a winning position. Learn to love your losses. Let them be a pathway to your success.
Mon Aug 25 Trades & Journal
20140825
Long 2 NQ 4071.0, 4071.0, +2.0, -0.0
Short 2 TF 1164.6, 1164.8, -0.8, +0.7,
Long 2 TF 1165.8, 1165.8, +0.5, +2.0
Short 3 TF 1167.2, 1167.0, 1167.4, -0.7, -0.5, -0.5
Short 2 ES 1997.0, 1997.0, +0.25, -1.0
Short 1 ES 1197.25, +1.75
Long 2 NQ 4071.75, 4071.5, -0.5, +2.0
Long 2 NQ 4071.0, +2.0
Short 2 ES 1997.75, 1998.25, -1.25, -0.75
Short 2 NQ 4077.5, 4077.5, -0.75, -0.75
Short 2 NQ 4077.5, 4077.75, +1.5, +3.0
Long 2 NQ 4073.5, 4073.5, +1.5, +3.0
Long 2 TF 1167.4, 1167.0, -0.7, +0.5
Long 2 TF 1164.3, 1154.5, +0.5, -0.7
Long 2 TF 1164.1, 1163.9, -0.6, -0.2
Long 1 TF 1162.8, -0.5
Long 2 TF 1160.9, 1161.0, +0.5, -0.6
Total ES -1.0
Total NQ +13
Total TF -1.0
As the TF trend action was Yang-Yin (the 1st Frame is consolidation leading to the more usual 1st Frame trend taking place in the 2nd Frame, I allowed myself trading into the 2nd Frame. However, I was filtered out by Plan from breakout shorts on the way down, and was left with trying to find the turn. Not satisfying. Believe it is worth re-examining those filters against shorts in that situation as I have been left on sidelines before as similar impulse trends develop, unable to act. Today, I think the Plan failed me more than I it. Plans should only change slowly, but I'll add today's technical factors to the study list. Stay focused.
Long 2 NQ 4071.0, 4071.0, +2.0, -0.0
Short 2 TF 1164.6, 1164.8, -0.8, +0.7,
Long 2 TF 1165.8, 1165.8, +0.5, +2.0
Short 3 TF 1167.2, 1167.0, 1167.4, -0.7, -0.5, -0.5
Short 2 ES 1997.0, 1997.0, +0.25, -1.0
Short 1 ES 1197.25, +1.75
Long 2 NQ 4071.75, 4071.5, -0.5, +2.0
Long 2 NQ 4071.0, +2.0
Short 2 ES 1997.75, 1998.25, -1.25, -0.75
Short 2 NQ 4077.5, 4077.5, -0.75, -0.75
Short 2 NQ 4077.5, 4077.75, +1.5, +3.0
Long 2 NQ 4073.5, 4073.5, +1.5, +3.0
Long 2 TF 1167.4, 1167.0, -0.7, +0.5
Long 2 TF 1164.3, 1154.5, +0.5, -0.7
Long 2 TF 1164.1, 1163.9, -0.6, -0.2
Long 1 TF 1162.8, -0.5
Long 2 TF 1160.9, 1161.0, +0.5, -0.6
Total ES -1.0
Total NQ +13
Total TF -1.0
As the TF trend action was Yang-Yin (the 1st Frame is consolidation leading to the more usual 1st Frame trend taking place in the 2nd Frame, I allowed myself trading into the 2nd Frame. However, I was filtered out by Plan from breakout shorts on the way down, and was left with trying to find the turn. Not satisfying. Believe it is worth re-examining those filters against shorts in that situation as I have been left on sidelines before as similar impulse trends develop, unable to act. Today, I think the Plan failed me more than I it. Plans should only change slowly, but I'll add today's technical factors to the study list. Stay focused.
Fri Aug 22 Trades & Journal
20140822
Short 2 TF 1153.7, 1154.1, -0.0, +0.9
Long 1 YM 16995, +25
Short 1 TF 1153.6, -0.2
Short 2 NQ 4048.5, 4048.5, +2.0, +5.0
Short 2 TF 1175.4, 1157.4, -0.7, -0.7
Short 4 TF 1158.6, 1158.6, 1158.5, 1158.3, +0.7, +0.7, +0.7, +1.0
Long 2 TF 1156.1, 1156.3, +1.3, +0.5
ToTal YM +25
Total NQ +7.0
Total TF +4.2
We dont' trade the news. We trade structure and volatility, when those aspects fulfill certain technical qualifications. Yellen may speak. She may shout. She may even yell. But we don't care as traders what she says. We are, however, grateful for the injection of adrenaline she and other Fed Chairman bring to the markets. That it is said by journalists that her news causes the markets to move does not, in fact, change the way the market fulfills the rules to its own internal structuring. That, she cannot change ever. Create a Trade Plan around these market models. Trade the models, not the news. This is our discipline. ....and a good weekend to all.
Short 2 TF 1153.7, 1154.1, -0.0, +0.9
Long 1 YM 16995, +25
Short 1 TF 1153.6, -0.2
Short 2 NQ 4048.5, 4048.5, +2.0, +5.0
Short 2 TF 1175.4, 1157.4, -0.7, -0.7
Short 4 TF 1158.6, 1158.6, 1158.5, 1158.3, +0.7, +0.7, +0.7, +1.0
Long 2 TF 1156.1, 1156.3, +1.3, +0.5
ToTal YM +25
Total NQ +7.0
Total TF +4.2
We dont' trade the news. We trade structure and volatility, when those aspects fulfill certain technical qualifications. Yellen may speak. She may shout. She may even yell. But we don't care as traders what she says. We are, however, grateful for the injection of adrenaline she and other Fed Chairman bring to the markets. That it is said by journalists that her news causes the markets to move does not, in fact, change the way the market fulfills the rules to its own internal structuring. That, she cannot change ever. Create a Trade Plan around these market models. Trade the models, not the news. This is our discipline. ....and a good weekend to all.
Thurs Aug 21 Trades & Journal
20140821
Short 2 YM 16975, 16975, -4, -5
Short 2 YM 16987, 16987, -7, -7
Long 2 NQ 4043.5, 4043.5, +2.0, +3.0
Short 2 TF 1153.2, 1153.1, +2.7, +2.0
Short 2 YM 17005, 17005, +7, +22
Short 2 TF 1150.2, 1150.2, +2.0, +2.5
Long 1 TF 1145.7, -0.4
Long 2 YM 16985, 16983, -6, -4
Total NQ +5.0
Total YM -4
Total TF +8.8
Trading around the news, and especially positioning in front of it, does not mean you are predicting the news. Never can the news be predicted. But because the market is bound to fill out its destined structure, you can trade your plan and enter when that structure fulfills a Trade Entry Model from your plan. Today, two such entry models appeared in the TF. One just before the beloved Philly Fed number release, and then another a short time
afterwards. Trade your plan. The news itself is nothing but confusion. Leave its interpretation to the talking heads on CNBC and Bloomberg. Whether they can admit to it or not, they temper their comments based on how the news sees it anyway, foolishly thinking traders actually analyse it for economic content before they make short term decisions in the pits. Don't try to make decisions based on its content. Instead, study how the herd has positioned itself just prior and just after the news comes out. Trade what you see. Be the Trader.
Short 2 YM 16975, 16975, -4, -5
Short 2 YM 16987, 16987, -7, -7
Long 2 NQ 4043.5, 4043.5, +2.0, +3.0
Short 2 TF 1153.2, 1153.1, +2.7, +2.0
Short 2 YM 17005, 17005, +7, +22
Short 2 TF 1150.2, 1150.2, +2.0, +2.5
Long 1 TF 1145.7, -0.4
Long 2 YM 16985, 16983, -6, -4
Total NQ +5.0
Total YM -4
Total TF +8.8
Trading around the news, and especially positioning in front of it, does not mean you are predicting the news. Never can the news be predicted. But because the market is bound to fill out its destined structure, you can trade your plan and enter when that structure fulfills a Trade Entry Model from your plan. Today, two such entry models appeared in the TF. One just before the beloved Philly Fed number release, and then another a short time
afterwards. Trade your plan. The news itself is nothing but confusion. Leave its interpretation to the talking heads on CNBC and Bloomberg. Whether they can admit to it or not, they temper their comments based on how the news sees it anyway, foolishly thinking traders actually analyse it for economic content before they make short term decisions in the pits. Don't try to make decisions based on its content. Instead, study how the herd has positioned itself just prior and just after the news comes out. Trade what you see. Be the Trader.
Tues Aug 19 Trades & Journal
20140819
Long 2 NQ 4024.0, 40.24.25, +2.0, +3.0
Long 2 TF 1158.5, 1158.6, +1.2, +0.5
Short 1 TF 1159.6, -.2
Short 1 TF 1159.6, -0.6
Short 1 TF 1159.8, -0.4
Long 2 TF 1160.2, +0.7, +0.3
Short 2 TF 1161.3, 1161.3, -0.8, -0.7
Long 1 TF 1162.6, -0.0
Long 2 TF 1160.6, 1160.6, -0.5, -0.5
Short 1 ES 1975.25, -1.0
Short 1 YM 16868, -5
Short 2 YM 16877, +5, -2
Total YM -2
Total ES -1.0
Total NQ +5.0
Total TF -1.0
Pretty much stuck to plan today. Just got chopped around. Losing days are expected. Just try to avoid digging a big hole to dig out of later in the week... Stay focused.
Long 2 NQ 4024.0, 40.24.25, +2.0, +3.0
Long 2 TF 1158.5, 1158.6, +1.2, +0.5
Short 1 TF 1159.6, -.2
Short 1 TF 1159.6, -0.6
Short 1 TF 1159.8, -0.4
Long 2 TF 1160.2, +0.7, +0.3
Short 2 TF 1161.3, 1161.3, -0.8, -0.7
Long 1 TF 1162.6, -0.0
Long 2 TF 1160.6, 1160.6, -0.5, -0.5
Short 1 ES 1975.25, -1.0
Short 1 YM 16868, -5
Short 2 YM 16877, +5, -2
Total YM -2
Total ES -1.0
Total NQ +5.0
Total TF -1.0
Pretty much stuck to plan today. Just got chopped around. Losing days are expected. Just try to avoid digging a big hole to dig out of later in the week... Stay focused.
Mon Aug 18 Trades & Journal
20140818
Short 2 YM 16731, 16731, -5, -5
Long 3 TF 1147.5, 1147.4, 1147.3, +1.0, +0.7, +0.7,
Short 2 YM 16734, 16736, -4, -2
Short 1 YM 16761, -7
Short 2 TF 1150,3, 1150.2, +0.7, +2.0
Short 2 TF 1151.3, 1151.4, -0.4, +0.1
Short 1 TF 1151.4, -0.4
Long 1 NQ 4010.25, +4.0
Long 2 TF 1151.9, 1151.9, +0.5, +1.0
Short 1 TF 1153.0, -0.4
Short 1 TF 1155.2, +1.5
Total YM -23
Total NQ +4.0
Total TF +7.0
There is such a strong temptation to judge exits on the character of price action, as to whether its choppy or whippy, impulsive or grinding, etc. But these judgements are really just a form of tape reading and are usually misleading as to the depth of any trend or pullback. Today, I lost patience with bull breakouts and didn't therefore enjoy the full excursions long into sell signals when there was really no other compelling reason to have exited but for the slow, grinding character of the action. But I know Second Trends have hidden surprises, I just let the action spook me. Don't let the price action spook you when more meaningful signals are flashing all around you. Let your position work. Position yourself to be surprised. Be disciplined.
Short 2 YM 16731, 16731, -5, -5
Long 3 TF 1147.5, 1147.4, 1147.3, +1.0, +0.7, +0.7,
Short 2 YM 16734, 16736, -4, -2
Short 1 YM 16761, -7
Short 2 TF 1150,3, 1150.2, +0.7, +2.0
Short 2 TF 1151.3, 1151.4, -0.4, +0.1
Short 1 TF 1151.4, -0.4
Long 1 NQ 4010.25, +4.0
Long 2 TF 1151.9, 1151.9, +0.5, +1.0
Short 1 TF 1153.0, -0.4
Short 1 TF 1155.2, +1.5
Total YM -23
Total NQ +4.0
Total TF +7.0
There is such a strong temptation to judge exits on the character of price action, as to whether its choppy or whippy, impulsive or grinding, etc. But these judgements are really just a form of tape reading and are usually misleading as to the depth of any trend or pullback. Today, I lost patience with bull breakouts and didn't therefore enjoy the full excursions long into sell signals when there was really no other compelling reason to have exited but for the slow, grinding character of the action. But I know Second Trends have hidden surprises, I just let the action spook me. Don't let the price action spook you when more meaningful signals are flashing all around you. Let your position work. Position yourself to be surprised. Be disciplined.
Fri Aug 15 Trades & Journal
20140815
Short 1 ES 1958.5, +2.0
Short 2 TF 1146.5, 1146.5, +0.4, -0.2
Long 2 TF 1146.7 1146.4, -0.7, -0.4
Short 1 NQ 3987.75, -1.25
Short 2 YM 16725, 16725, -7, -7
Short 2 TF 1147.0, 1147.0 -0.5, -0.5
Short 3 TF 1147.4, 1147.8, 1147.6, +0.5,-0.6, -0.7
Short 2 TF 1148.9, 1148.8, +0.7, -0.3
Long 1 TF 1149.3, -0.7
Long 1 YM 16529, -7
Short 1 ES 1960.25, +2.0
Long 2 YM 16719, 16714, -10, -4
Long 2 YM 16698, 16698, +10, -4
Long 2 ES 1953.75, 1953.75, -1.0, -1.0
Long 2 ES 1951.75, 1951.75, -1.0, -1.0
Long 2 TF 1139.6, 1139.6, -0.7, -0.7
Long 3 TF 1136.2, 1136.2, 1136.2, +2.0,. +2.0, +4.0
Total ES -0.0
Total YM -15
Total NQ -1.25
Total TF +3.6
There is a normal Ying-Yang to the volatility of the day. The 1st frame usually gets the volatility, the Midday frame gets the grind and drift. But occasionally, that flips around and then it's Yang-Ying. When this occurs, you can spend down your day's quota in losses before the best trades show up, and so it was today for me that I had just hit a daily loss quota when some important reversal signals appeared after a sudden collapse. But had no further signal appeared, I would have had to rely on a lot of self discipline to accept a moderately losing day, and a nice string of winners. Preservation of capital is key to consistency. A losing day can be overcome when consistency returns, and most market patterns and fractals do not look like that of today. Today, although I didn't trade past my loss quota before profits showed up, I did trade past my total trades taken limit. I rationalized that since so many were small losses, and I had 4 pts in ES profits as some cushion, it didn't matter. But small losses add up too. Keep your eye on the whole game. A few broken rules here and there, and a temptation to throw the whole discipline out can creep in. Stay focused. Stay in for the long haul. On most days like this, the profits you missed are usually more annoying than the losses you took, unless those losses exceed your daily loss limit. Keep an eye on that limit. Maintain that discipline. Live to trade another day.
Short 1 ES 1958.5, +2.0
Short 2 TF 1146.5, 1146.5, +0.4, -0.2
Long 2 TF 1146.7 1146.4, -0.7, -0.4
Short 1 NQ 3987.75, -1.25
Short 2 YM 16725, 16725, -7, -7
Short 2 TF 1147.0, 1147.0 -0.5, -0.5
Short 3 TF 1147.4, 1147.8, 1147.6, +0.5,-0.6, -0.7
Short 2 TF 1148.9, 1148.8, +0.7, -0.3
Long 1 TF 1149.3, -0.7
Long 1 YM 16529, -7
Short 1 ES 1960.25, +2.0
Long 2 YM 16719, 16714, -10, -4
Long 2 YM 16698, 16698, +10, -4
Long 2 ES 1953.75, 1953.75, -1.0, -1.0
Long 2 ES 1951.75, 1951.75, -1.0, -1.0
Long 2 TF 1139.6, 1139.6, -0.7, -0.7
Long 3 TF 1136.2, 1136.2, 1136.2, +2.0,. +2.0, +4.0
Total ES -0.0
Total YM -15
Total NQ -1.25
Total TF +3.6
There is a normal Ying-Yang to the volatility of the day. The 1st frame usually gets the volatility, the Midday frame gets the grind and drift. But occasionally, that flips around and then it's Yang-Ying. When this occurs, you can spend down your day's quota in losses before the best trades show up, and so it was today for me that I had just hit a daily loss quota when some important reversal signals appeared after a sudden collapse. But had no further signal appeared, I would have had to rely on a lot of self discipline to accept a moderately losing day, and a nice string of winners. Preservation of capital is key to consistency. A losing day can be overcome when consistency returns, and most market patterns and fractals do not look like that of today. Today, although I didn't trade past my loss quota before profits showed up, I did trade past my total trades taken limit. I rationalized that since so many were small losses, and I had 4 pts in ES profits as some cushion, it didn't matter. But small losses add up too. Keep your eye on the whole game. A few broken rules here and there, and a temptation to throw the whole discipline out can creep in. Stay focused. Stay in for the long haul. On most days like this, the profits you missed are usually more annoying than the losses you took, unless those losses exceed your daily loss limit. Keep an eye on that limit. Maintain that discipline. Live to trade another day.
Thurs Aug 14 Trades & Journal
20140814
Long 1 TF 1141.7, -0.5
Long 2 TF 1141.3, 1141.3, +.7, +.7
Long 2 NQ 3948.5, 39.48.25, +4.0, +2.0
Long 1 TF 1140.3, +1.2
Long 2 YM 16620, 16621, +5, +1
Short 2 TF 1139.5, 1139.9, -0.7, -0.5
Short 1 YM 16631, -7
Short 1 ES 1946.75, -1.5
Short 3 TF 1140.6, 1140.6, 1140,5, +0.5, +1.0, -0.2
Short 2 TF 1141.7, 1141.6, +0.5, +1.0
Total NQ +6.0
Total ES -1.5
Total YM -1
Total TF +3.7
...some days are better for trading than others....
Long 1 TF 1141.7, -0.5
Long 2 TF 1141.3, 1141.3, +.7, +.7
Long 2 NQ 3948.5, 39.48.25, +4.0, +2.0
Long 1 TF 1140.3, +1.2
Long 2 YM 16620, 16621, +5, +1
Short 2 TF 1139.5, 1139.9, -0.7, -0.5
Short 1 YM 16631, -7
Short 1 ES 1946.75, -1.5
Short 3 TF 1140.6, 1140.6, 1140,5, +0.5, +1.0, -0.2
Short 2 TF 1141.7, 1141.6, +0.5, +1.0
Total NQ +6.0
Total ES -1.5
Total YM -1
Total TF +3.7
...some days are better for trading than others....
Wed Aug 13 Trades & Journal
20140813
Long 1 NQ 3921.5, +4.0
Short 2 TF 1134.5, 1134.4, +0.7, +1.2
Short 2 TF 1132.8, 1132.7, -0.0, +0.5
Long 1 TF 1132.6, -0.0
Long 1 TF 1132.7, +2.0
Short 2 NQ 3927.5, 3927.25, +2.0, +2.0
Long 2 NQ 3923.0, 3923.5, +2.0, +4.0
Short 2 NQ 3928.5, 3928.25, -2.00, -0.0
Short 3 NQ 3931.0, 3930.0, 3930.5, +2.0, -2.0, -1.5
Short 2 TF 1137.5, 1137.6, +1.0, +.07
Short 2 NQ 3934.0, 3934.0, -1.0, -1.25
Short 1 TF 1139.0, -0.0
Total NQ +8.25
Total TF +6.1
Balked at another breakout trade today. And since a pair of signals came in immediate succession, the first one failing to produce actually made the second one all the more likely to succeed... and yet I still balked and failed to take it. The more successful breakouts tend to arrive in disbelief, and yet "most of the opportunity that is missed in the markets is missed by traders who couldn't concede that the market could go the expected distance, but in the opposite direction". This is the nature of the market. Use the measure of your own disbelief that price can't possibly succeed in going further into a trigger to take the trade anyway. The peaking momentum is only a sign that price will soon peak itself in mimicry to the momentum, not a warning that the market has already peaked. As price follows momentum, the market is far more likely to peak after momentum, giving the breakout the surprising impulse needed to make the trade a success. Wait til an actual price impulse spike is behind you to expect the momentum to have an affect. Use the Rule of Alternation to full advantage. If the model is in place, take the trade, your disbelief in the trade's potential notwithstanding.
Long 1 NQ 3921.5, +4.0
Short 2 TF 1134.5, 1134.4, +0.7, +1.2
Short 2 TF 1132.8, 1132.7, -0.0, +0.5
Long 1 TF 1132.6, -0.0
Long 1 TF 1132.7, +2.0
Short 2 NQ 3927.5, 3927.25, +2.0, +2.0
Long 2 NQ 3923.0, 3923.5, +2.0, +4.0
Short 2 NQ 3928.5, 3928.25, -2.00, -0.0
Short 3 NQ 3931.0, 3930.0, 3930.5, +2.0, -2.0, -1.5
Short 2 TF 1137.5, 1137.6, +1.0, +.07
Short 2 NQ 3934.0, 3934.0, -1.0, -1.25
Short 1 TF 1139.0, -0.0
Total NQ +8.25
Total TF +6.1
Balked at another breakout trade today. And since a pair of signals came in immediate succession, the first one failing to produce actually made the second one all the more likely to succeed... and yet I still balked and failed to take it. The more successful breakouts tend to arrive in disbelief, and yet "most of the opportunity that is missed in the markets is missed by traders who couldn't concede that the market could go the expected distance, but in the opposite direction". This is the nature of the market. Use the measure of your own disbelief that price can't possibly succeed in going further into a trigger to take the trade anyway. The peaking momentum is only a sign that price will soon peak itself in mimicry to the momentum, not a warning that the market has already peaked. As price follows momentum, the market is far more likely to peak after momentum, giving the breakout the surprising impulse needed to make the trade a success. Wait til an actual price impulse spike is behind you to expect the momentum to have an affect. Use the Rule of Alternation to full advantage. If the model is in place, take the trade, your disbelief in the trade's potential notwithstanding.
Tues Aug 12 Trades & Journal
20140812
Short 2 NQ 3912.25, 3912.0, +2.0, +6.0
Short 1 TF 1139.6, +2.0
Long 2 YM 16506, 16506, +7, +15
Long 1 NQ 3900.75, -1.5
Short 1 NQ 3899.25, -2.0
Long 2 TF 1134.6, 1134.5, -0.5, +0.7
Long 1 TF 1133.6, 1133.9, +0.7, -0.7
Long 2 TF 1130.4, 1130.4, +0.7, +2.0
Total YM +22
Total NQ +4.5
Total TF +4.9
For both these past two days, I ducked an in-trend breakout because the special momentum indicator was flashing a warning level. But a warning level is not a true block to filter out the entry model as it crosses the 'tracks', it's a warning that the end-of-trend could be nearing. And when it comes to momentum, the last few readings left in the momentum indicator itself can be accompanied by the final price spike in an impulse trend that reached a climatic extreme, accounting for far more price in that final spike than perhaps would be expected by such a small final move in the momentum indicator. Thus it is how nearly parabolic moves come to an end. This is not a new aspect to trade entry model specifications. More accurately, I have used the warning aspect of the momentum indicator as an excuse to balk at taking the breakout, which is a tendency I've long wanted to control in order to participate better with these breakouts when the entry model signifies go otherwise. In other words, I use the excuse that my trade model was failing me when it was really me that was keeping my trade model vague on purpose, in order to avoid taking the breakout play. Let's wash this out. Breakouts can take some faith, granted, but overcoming the apprehension surrounding them would markedly improve my trading. Polish the plan. Acknowledge the adjustment. Be determined to act.
Short 2 NQ 3912.25, 3912.0, +2.0, +6.0
Short 1 TF 1139.6, +2.0
Long 2 YM 16506, 16506, +7, +15
Long 1 NQ 3900.75, -1.5
Short 1 NQ 3899.25, -2.0
Long 2 TF 1134.6, 1134.5, -0.5, +0.7
Long 1 TF 1133.6, 1133.9, +0.7, -0.7
Long 2 TF 1130.4, 1130.4, +0.7, +2.0
Total YM +22
Total NQ +4.5
Total TF +4.9
For both these past two days, I ducked an in-trend breakout because the special momentum indicator was flashing a warning level. But a warning level is not a true block to filter out the entry model as it crosses the 'tracks', it's a warning that the end-of-trend could be nearing. And when it comes to momentum, the last few readings left in the momentum indicator itself can be accompanied by the final price spike in an impulse trend that reached a climatic extreme, accounting for far more price in that final spike than perhaps would be expected by such a small final move in the momentum indicator. Thus it is how nearly parabolic moves come to an end. This is not a new aspect to trade entry model specifications. More accurately, I have used the warning aspect of the momentum indicator as an excuse to balk at taking the breakout, which is a tendency I've long wanted to control in order to participate better with these breakouts when the entry model signifies go otherwise. In other words, I use the excuse that my trade model was failing me when it was really me that was keeping my trade model vague on purpose, in order to avoid taking the breakout play. Let's wash this out. Breakouts can take some faith, granted, but overcoming the apprehension surrounding them would markedly improve my trading. Polish the plan. Acknowledge the adjustment. Be determined to act.
Mon Aug 11 Trade Summary
20140811
Short 2 TF 1133.1, 1133.4, -0.1, +2.0
Short 2 NQ 3999.75, 3999.0, +4.0, +2.0
Long 1 TF 1131.7, +1.2
Short 2 TF 1133.3, 1133.5, -0.6, +0.5
Short 1 NQ 3999.0, -1.5
Short 2 TF 1135.5, 1136.5, -0.0, -0.3
Short 2 NQ 3908.25, 3908.5, -1.25, -1.0
Long 1 NQ 3909.0, +5.0
Short 2 TF 1141.1, 1141.0, -0.3, +0.7
Short 2 TF 1141.9, 1141.7, +0.7, +2.0
Total NQ +7.25
Total TF +5.8
Short 2 TF 1133.1, 1133.4, -0.1, +2.0
Short 2 NQ 3999.75, 3999.0, +4.0, +2.0
Long 1 TF 1131.7, +1.2
Short 2 TF 1133.3, 1133.5, -0.6, +0.5
Short 1 NQ 3999.0, -1.5
Short 2 TF 1135.5, 1136.5, -0.0, -0.3
Short 2 NQ 3908.25, 3908.5, -1.25, -1.0
Long 1 NQ 3909.0, +5.0
Short 2 TF 1141.1, 1141.0, -0.3, +0.7
Short 2 TF 1141.9, 1141.7, +0.7, +2.0
Total NQ +7.25
Total TF +5.8
Fri Aug 8 Trade Summary
20140808
Long 2 YM 16319, 16319, -5, -5
Long 2 YM 16314, 16314, +10, +15
Short 3 TF 1117.0, 1117.5, 1117.6, -0.1, -0.4, -0.5
Short 3 YM 16350, 16350, 16351, +7, +7, -5
Short 1 TF 1120.5, +1.5
Short 2 TF 1120.4, 1120.4, +0.7, +2.0
Short 2 TF 1122.3, 1122.3, +0.7, +1.6
Short 1 TF 1121.9, +1.5
Total YM +15
Total TF +7.0
Long 2 YM 16319, 16319, -5, -5
Long 2 YM 16314, 16314, +10, +15
Short 3 TF 1117.0, 1117.5, 1117.6, -0.1, -0.4, -0.5
Short 3 YM 16350, 16350, 16351, +7, +7, -5
Short 1 TF 1120.5, +1.5
Short 2 TF 1120.4, 1120.4, +0.7, +2.0
Short 2 TF 1122.3, 1122.3, +0.7, +1.6
Short 1 TF 1121.9, +1.5
Total YM +15
Total TF +7.0
Thur Aug 7 Trades & Journal
20140807
Short 2 TF 1125.6, 1125.6, +0.7, -0.5
Short 1 TF 1126.2, +1.0
Long 2 ES 1920.5, 1920.25, +1.0, -1.25
Long 2 NQ 3878.75, 3875.5, +4.0, +2.0
Short 2 TF 1129.9, 1129.8, +0.7, +2.0
Long 2 TF 1125.1, 1125.3, +0.7, +1.5
Long 2 TF 1124.9, 1124.9, +0.7, +1.2
Long 2 YM 16412, 16412, -5, -5
Long 2 YM 16402, 16402, +10, -1, -1
Long 2 YM 16384, 16384, -5, -5
Long 2 NQ 3869.5, 3869.25, +2.0, +8.0
Long 2 TF 1120.2, 1120.0, -.7, -.5
Long 2 NQ 3870.5, 3870.75, +2.0, -1.5
Long 2 YM 16350, 16350, +7, +13
Long 1 TF 1115.9, +1.2
Long 1 TF 1115.7, +2.0
Total ES -0.25
Total YM +8
Total NQ +16.5
Total TF +10.0
Adages and truisms are easy to quote. But the "Ten Rules of Trading You Should Never Violate" is like a tome of how-to for thinking outside the box. Today was a perfect example. Early going in the TF provided great two-sided trading... enough to have made a reasonable trade quota before the TF had even succeeded in leaving the attraction of the ORB. But at the lows, after it broke, the momentum indicators were cautioning against selling further breakdowns, and indeed, anyone who might have taken them would have been hooked short on most breaks while the bulls who faded them enjoyed swooning balloons of profits upward. "Never buy a new Low" is just one of those ten rules, and I remain so pleased that those who adhere to it are crowding me out of buying those lows when exacting trade entry models are fulfilled by them. Stay disciplined. Trade according to a rule book written by the market itself. The market tells you where and how to buy everyday. Shut up and listen. ...and I'll continue to take my rules from the wisdom of Heraclitus. "Fools, although they hear, are like the deaf." When it comes to trading, don't turn a deaf ear to what the market is teaching you. There are times to counter-trade and times to enter into breakouts. Just stop and listen to the market. Each day an internal structure to its opportunities is on full display to anyone who can take the ten rules of trading from what the market itself can teach you, and nowhere else.
Short 2 TF 1125.6, 1125.6, +0.7, -0.5
Short 1 TF 1126.2, +1.0
Long 2 ES 1920.5, 1920.25, +1.0, -1.25
Long 2 NQ 3878.75, 3875.5, +4.0, +2.0
Short 2 TF 1129.9, 1129.8, +0.7, +2.0
Long 2 TF 1125.1, 1125.3, +0.7, +1.5
Long 2 TF 1124.9, 1124.9, +0.7, +1.2
Long 2 YM 16412, 16412, -5, -5
Long 2 YM 16402, 16402, +10, -1, -1
Long 2 YM 16384, 16384, -5, -5
Long 2 NQ 3869.5, 3869.25, +2.0, +8.0
Long 2 TF 1120.2, 1120.0, -.7, -.5
Long 2 NQ 3870.5, 3870.75, +2.0, -1.5
Long 2 YM 16350, 16350, +7, +13
Long 1 TF 1115.9, +1.2
Long 1 TF 1115.7, +2.0
Total ES -0.25
Total YM +8
Total NQ +16.5
Total TF +10.0
Adages and truisms are easy to quote. But the "Ten Rules of Trading You Should Never Violate" is like a tome of how-to for thinking outside the box. Today was a perfect example. Early going in the TF provided great two-sided trading... enough to have made a reasonable trade quota before the TF had even succeeded in leaving the attraction of the ORB. But at the lows, after it broke, the momentum indicators were cautioning against selling further breakdowns, and indeed, anyone who might have taken them would have been hooked short on most breaks while the bulls who faded them enjoyed swooning balloons of profits upward. "Never buy a new Low" is just one of those ten rules, and I remain so pleased that those who adhere to it are crowding me out of buying those lows when exacting trade entry models are fulfilled by them. Stay disciplined. Trade according to a rule book written by the market itself. The market tells you where and how to buy everyday. Shut up and listen. ...and I'll continue to take my rules from the wisdom of Heraclitus. "Fools, although they hear, are like the deaf." When it comes to trading, don't turn a deaf ear to what the market is teaching you. There are times to counter-trade and times to enter into breakouts. Just stop and listen to the market. Each day an internal structure to its opportunities is on full display to anyone who can take the ten rules of trading from what the market itself can teach you, and nowhere else.
Wed Aug 6 Trade Summary
20140806
Short 1 TF 1112.7, -0.1
Short 1 TF 1112.4, -0.6
Short 2 ES 1910.5, 1912.0, -2.5, -1.25
Short 3 TF 1117.8, 1117.8, 1117.8, +1.2, -0.6, -0.6
Short 2 NQ 3863.0, 3863.0, -2.0, -2.0
Short 4 NQ 3864.25, 3864.5, 3864.5, 3864.0, +5.0, +2.0, +7.0, +2.0
Long 2 TF 1118.6, 1118.7, +1.2, +1.3
Short 3 NQ 3867.5, 3867.0, 3867.5, +2.0, -2.5, -2.5
Short 3 TF 1122.9, 1122.9, 1123.2, +0.7, +0.7, +3.0
Long 1 NQ 3864.0, +3.0
Total ES -3.75
Total NQ +12.0
Total TF +6.2
Short 1 TF 1112.7, -0.1
Short 1 TF 1112.4, -0.6
Short 2 ES 1910.5, 1912.0, -2.5, -1.25
Short 3 TF 1117.8, 1117.8, 1117.8, +1.2, -0.6, -0.6
Short 2 NQ 3863.0, 3863.0, -2.0, -2.0
Short 4 NQ 3864.25, 3864.5, 3864.5, 3864.0, +5.0, +2.0, +7.0, +2.0
Long 2 TF 1118.6, 1118.7, +1.2, +1.3
Short 3 NQ 3867.5, 3867.0, 3867.5, +2.0, -2.5, -2.5
Short 3 TF 1122.9, 1122.9, 1123.2, +0.7, +0.7, +3.0
Long 1 NQ 3864.0, +3.0
Total ES -3.75
Total NQ +12.0
Total TF +6.2
Tues Aug 5 Trades & Journal
20140805
Short 1 NQ 3884.75, -2.5
Long 2 YM 16456, 16452, -6, +7
Long 2 NQ 3883.00, 3883.25, +2.0, -2.0
Short 1 TF 1118.3, +2.0
Long 2 TF 1113.8, 1113.7, +2.0, +0.7
Long 1 TF 1114.8, +2.0
Total NQ -2.5
Total YM +1
Total TF +6.7
It pays to have all four contracts, ES, YM, NQ and TF in plain site in prime monitor real estate at all times. Today, an important trade came for the TF, without a signal itself, by borrowing the simultaneous signals appearing in all three of the others. TF is contract of choice. It's the Goldie Locks of volume and volatility for the futures trader. And acquiring signals by the confluence of other technical concepts to trade it is by far the greatest joy of my long career as a futures trader. Stay focused.
Short 1 NQ 3884.75, -2.5
Long 2 YM 16456, 16452, -6, +7
Long 2 NQ 3883.00, 3883.25, +2.0, -2.0
Short 1 TF 1118.3, +2.0
Long 2 TF 1113.8, 1113.7, +2.0, +0.7
Long 1 TF 1114.8, +2.0
Total NQ -2.5
Total YM +1
Total TF +6.7
It pays to have all four contracts, ES, YM, NQ and TF in plain site in prime monitor real estate at all times. Today, an important trade came for the TF, without a signal itself, by borrowing the simultaneous signals appearing in all three of the others. TF is contract of choice. It's the Goldie Locks of volume and volatility for the futures trader. And acquiring signals by the confluence of other technical concepts to trade it is by far the greatest joy of my long career as a futures trader. Stay focused.
Mon Aug 4 Trades & Journal
20140804
Long 2 YM 16425, 16425, +5, +15
Long 1 TF 1113.5, +1.5
Short 2 YM 16450, 16450, +7, +10
Long 2 NQ 3889.5, 3889.0, -2.0, +2.0
Long 1 YM 16436, +15
Short 2 TF 1117.2, 1117.2, +0.5, +1.5
Short 1 TF 1110.7, +1.4
Long 1 YM 16417, -5
Long 1 TF 1108.5, -0.0
Short 1 TF 1107.7, -0.1
Short 1 TF 1107.4, +1.2
Total NQ -0.0
Total YM +47
Total TF +6.0
The best trades are always a combination of momentum, fractal structure and price level. Leave out any one of those, the risks increase that the trade will fail. Balk at taking multiple contract position when they all appear in confluence as signals, then risk not being able to profit from the best trades of the frame, leaving you the impulse to take other trades of lessor signal strength. Today, on a breakdown play well within the parameters of all 3 technical aspects, I took a 1-lot position when I should have taken 2. ...but at least I'll acknowledge some improvement for having taken the breakdown play in the first place, as aspect of my trading long in need of serious improvement. Stay focused on what needs to change. Note the opportunities that correspond to these changes. Take the trades until they become habits. Your fate as the Trader is built on better habits.
Long 2 YM 16425, 16425, +5, +15
Long 1 TF 1113.5, +1.5
Short 2 YM 16450, 16450, +7, +10
Long 2 NQ 3889.5, 3889.0, -2.0, +2.0
Long 1 YM 16436, +15
Short 2 TF 1117.2, 1117.2, +0.5, +1.5
Short 1 TF 1110.7, +1.4
Long 1 YM 16417, -5
Long 1 TF 1108.5, -0.0
Short 1 TF 1107.7, -0.1
Short 1 TF 1107.4, +1.2
Total NQ -0.0
Total YM +47
Total TF +6.0
The best trades are always a combination of momentum, fractal structure and price level. Leave out any one of those, the risks increase that the trade will fail. Balk at taking multiple contract position when they all appear in confluence as signals, then risk not being able to profit from the best trades of the frame, leaving you the impulse to take other trades of lessor signal strength. Today, on a breakdown play well within the parameters of all 3 technical aspects, I took a 1-lot position when I should have taken 2. ...but at least I'll acknowledge some improvement for having taken the breakdown play in the first place, as aspect of my trading long in need of serious improvement. Stay focused on what needs to change. Note the opportunities that correspond to these changes. Take the trades until they become habits. Your fate as the Trader is built on better habits.
Fri Aug 1 Trade Summary
20140801
Short 1 TF 1117.0, -0.4
Short 1 TF 1116.9, -0.3
Short 3 NQ 3895.0, 3895.5, 3895.25, +2.0, +5.0, +4.0
Long 3 TF 1118.5, 1118.5, 1118.4, +0.7, +2.0, +0.7
Long 2 TF 1113.1, 1113.1, -0.6, -0.6
Long 2 NQ 3879.5, 3879.5, +2.0, +5.0
Total NQ +18.00
Total TF +1.5
Short 1 TF 1117.0, -0.4
Short 1 TF 1116.9, -0.3
Short 3 NQ 3895.0, 3895.5, 3895.25, +2.0, +5.0, +4.0
Long 3 TF 1118.5, 1118.5, 1118.4, +0.7, +2.0, +0.7
Long 2 TF 1113.1, 1113.1, -0.6, -0.6
Long 2 NQ 3879.5, 3879.5, +2.0, +5.0
Total NQ +18.00
Total TF +1.5
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