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.
