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.
