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.
