20140903
Short 2 TF 1183.0, 1183.1, -0.5, -0.5
Short 2 TF 1183.3, +0.7, +2.0
Long 2 NQ 4098.75, 4098.75, +2.0, -0.5
Short 1 TF 1182.7, -0.2
Short 1 TF 1183.1, -0.3,
Long 1 TF 1183.5, -0.7
Long 3 TF 1181.2, 1181.2, 1181.7, +0.5, +1.5, +1.0
Long 1 TF 1181.8, -0.4
Long 1 TF 1180.2, -0.5
Long 2 TF 1179.3, 1179.3, -0.5, -0.5
Long 2 TF 1179.3, 1179.3, +0.7, +1.3
Total NQ +1.5
Total TF +3.6
Trend prejudice is a difficult thing to admit. And every basic book and beginner set of guidelines encourages you to use the trend as your mail filter criteria for taking trades. But does this definition of trend really serve you? 'Most the money lost in the markets is lost by traders who think they understand the trend'...to paraphrase the Douglas Premise. If nearly everyone attempts to trade by the trend, and nearly 90% of trading accounts close without making a profit, then perhaps that adage needs to be rethought a bit. Today I failed to follow plan and take a breakout trade in the TF because I thought I understood that trend....and it cost both in the money I didn't make in the breakout as well as that lost by trades taken too early before the breakout phase was done. Instead, focus on trading the price models that appear at the right edge of the video screen, and you will 'discover' the trend along with the ensuing price action. Stay disciplined. Show faith in the plan. Trade the plan and you'll be trading into the trends that matter for your time frame and risk allowance.
