20150227
Short 1 TF 1236.6, -0.6
Short 2 TF 1237.1, 1237.2, +2.0, +2.0
Short 1 YM 18196, +20
Long 1 YM 18155, +12
Total YM +32
Total TF +3.4
Thurs Feb 26 Trades & Journal
20150226
Long 2 TF 1233.1, 1233.1, +0.7, -0.7
Long 2 YM 18168, 18168, +7, +18
Short 2 NQ 4438.75, 4441.0, -3.5, -1.0
Short 3 TF 1231.8, 1231.9, 1231.8, +0.5, -0.6, +0.5
Short 3 TF 1234.4, 1234.4, 1234.4, -0.0, -0.3, -0.7
Short 1 NQ 4441.5, -3.0
Short 2 TF 1136.3, 1136.3, 1136.2, +0.7, -0.8, -0.0
Short 1 NQ 4456.75, -0.75
Short 3 TF 1237.5, 1137.5, 1137.5, +0.5, +0.5, +0.7
Total YM +25
Total NQ -7.5
Total TF +1.0
Sometimes you fail your Trade Plan... sometimes your Trade Plan fails you... and sometimes your internet fails during the 1st Frame on a day where the initial model entry setups were the best in several days... it did, however, come to life near the the Low-of-Day (LOD) but could only get my head around a small YM position. Thereafter, I misjudged the strength of the Die Hard Bull, but survived serious losses with decent TF net break-even management, although not so well in the NQ. Let's try that again tomorrow... only this time, let's get online first....
Long 2 TF 1233.1, 1233.1, +0.7, -0.7
Long 2 YM 18168, 18168, +7, +18
Short 2 NQ 4438.75, 4441.0, -3.5, -1.0
Short 3 TF 1231.8, 1231.9, 1231.8, +0.5, -0.6, +0.5
Short 3 TF 1234.4, 1234.4, 1234.4, -0.0, -0.3, -0.7
Short 1 NQ 4441.5, -3.0
Short 2 TF 1136.3, 1136.3, 1136.2, +0.7, -0.8, -0.0
Short 1 NQ 4456.75, -0.75
Short 3 TF 1237.5, 1137.5, 1137.5, +0.5, +0.5, +0.7
Total YM +25
Total NQ -7.5
Total TF +1.0
Sometimes you fail your Trade Plan... sometimes your Trade Plan fails you... and sometimes your internet fails during the 1st Frame on a day where the initial model entry setups were the best in several days... it did, however, come to life near the the Low-of-Day (LOD) but could only get my head around a small YM position. Thereafter, I misjudged the strength of the Die Hard Bull, but survived serious losses with decent TF net break-even management, although not so well in the NQ. Let's try that again tomorrow... only this time, let's get online first....
Wed Feb 25 Trade Summary
20150225
Long 1 YM 18170, -7
Short 1 TF 1230.8, +1.8
Short 1 NQ 4444.5, +0.5
Short 1 TF 1231.7, +1.1
Long 1 TF 1232.7, -0.4
Short 1 TF 1132.4, -0.4
Long 1 TF 1133.0, -0.4
Short 1 TF 1131.9, -0.3
Short 1 TF 1132.9, +0.4
Total YM -7
Total NQ +0.5
Total TF +1.8
Long 1 YM 18170, -7
Short 1 TF 1230.8, +1.8
Short 1 NQ 4444.5, +0.5
Short 1 TF 1231.7, +1.1
Long 1 TF 1232.7, -0.4
Short 1 TF 1132.4, -0.4
Long 1 TF 1133.0, -0.4
Short 1 TF 1131.9, -0.3
Short 1 TF 1132.9, +0.4
Total YM -7
Total NQ +0.5
Total TF +1.8
Tues Feb 24 Trades & Journal
20150224
Short 2 TF 1232.0, 1231.9, -0.4, -0.8
Short 1 YM 18122, +20
Long 1 TF 1229.1, +1.5
Short 1 YM 18141, -8
Long 1 YM 18150, +7
Long 1 TF 1233.9, -1.4
Long 1 TF 1232.3, -0.6
Long 3 TF 1232.0, 1232.1, 1232.1, +0.7, +1.0, +1.3
Total YM +19
Total TF +1.3
On some days, you fail your Trade Plan. ...as I did yesterday at a key opportunity on a morning of few TF opportunities within the Plan. But on other days, the Plan can fail you. ...or more correctly, your Trade Plan is inadequate at some junctures where turns take place without you, and successful breakouts and breakdowns take place that can only be described as a surprise. Of course you must consider what else you're missing that might have been included in future entry models, always considering changes to your Plan very, very carefully before committing to any. But otherwise, just live with it. Tomorrow is another day. Enter the trades according to your Plan, and manage them the best you can. Some days are better for trading than others....
Short 2 TF 1232.0, 1231.9, -0.4, -0.8
Short 1 YM 18122, +20
Long 1 TF 1229.1, +1.5
Short 1 YM 18141, -8
Long 1 YM 18150, +7
Long 1 TF 1233.9, -1.4
Long 1 TF 1232.3, -0.6
Long 3 TF 1232.0, 1232.1, 1232.1, +0.7, +1.0, +1.3
Total YM +19
Total TF +1.3
On some days, you fail your Trade Plan. ...as I did yesterday at a key opportunity on a morning of few TF opportunities within the Plan. But on other days, the Plan can fail you. ...or more correctly, your Trade Plan is inadequate at some junctures where turns take place without you, and successful breakouts and breakdowns take place that can only be described as a surprise. Of course you must consider what else you're missing that might have been included in future entry models, always considering changes to your Plan very, very carefully before committing to any. But otherwise, just live with it. Tomorrow is another day. Enter the trades according to your Plan, and manage them the best you can. Some days are better for trading than others....
Feb 23 Trades & Journal
20150223
Long 1 TF 1125.8, -0.7
Short 1 YM 17055, +20
Long 1 TF 1123.1, -0.5
Long 1 TF 1120.7, -1.4
Long 3 NQ 4436.75, 4436.75, 4436.75, +2.0, +2.0, +3.0
Long 3 TF 1119.5, 1119.5, 1119.6, -0.4, -0.4, -0.4
Long 1 TF 1119.5, +2.0
Short 2 TF 1122.2, 1122.3, -0.8, -0.9
Short 2 TF 1122.6, 1122.6, -0.7, -0.7
Short 3 TF 1123.1, 1123.1, 1123.1, +2.0, +2.0, +2.0
Total YM +20
Total NQ +7.0
Total TF +1.1
A single big slam down today presented some challenges in TF trading, and yet not outside the Trade Plan. I just failed to get my head around the trigger in time to acknowledge what was in front of me. I also let the NQ relative strength caution me away from trading what was in front of me in the TF contract. Trade what's in front of you. Ignore the initial divergence as action tries to uncover the trend. The TF stands alone and on its own as these efforts unfold. Read the Trade Plan of these more challenging models into the voice in your ahead before trading begins. This is how you prepare. Not with suppositions about which way the market is supposed to go based on overnight action, but on what appears in front of you at the right edge of your video screen.
Long 1 TF 1125.8, -0.7
Short 1 YM 17055, +20
Long 1 TF 1123.1, -0.5
Long 1 TF 1120.7, -1.4
Long 3 NQ 4436.75, 4436.75, 4436.75, +2.0, +2.0, +3.0
Long 3 TF 1119.5, 1119.5, 1119.6, -0.4, -0.4, -0.4
Long 1 TF 1119.5, +2.0
Short 2 TF 1122.2, 1122.3, -0.8, -0.9
Short 2 TF 1122.6, 1122.6, -0.7, -0.7
Short 3 TF 1123.1, 1123.1, 1123.1, +2.0, +2.0, +2.0
Total YM +20
Total NQ +7.0
Total TF +1.1
A single big slam down today presented some challenges in TF trading, and yet not outside the Trade Plan. I just failed to get my head around the trigger in time to acknowledge what was in front of me. I also let the NQ relative strength caution me away from trading what was in front of me in the TF contract. Trade what's in front of you. Ignore the initial divergence as action tries to uncover the trend. The TF stands alone and on its own as these efforts unfold. Read the Trade Plan of these more challenging models into the voice in your ahead before trading begins. This is how you prepare. Not with suppositions about which way the market is supposed to go based on overnight action, but on what appears in front of you at the right edge of your video screen.
Fri Feb 20 Trades & Journal
20150220
Long 1 TF 1123.6, -0.5
Long 2 NQ 4397.75, 4397.75, +3.0, +5.0
Long 1 YM 17859, -3
Long 1 TF 1216.3, -0.3
Short 2 TF 1214.8, 1214.8, +0.5, -0.7
Short 1 YM 17894, -7
Short 1 NQ 4305.75, -3.0
Short 2 TF 1218.8, 12.8.8, -0.5, -0.5
Short 3 NQ 4409.25, 4409.25, 4409.0, +1.0, +.75, -1.5
Short 2 TF 1220.1, 1220.1, +1.1, +2.7
Short 1 TF 1222.8, -0.9
Short 3 TF 1224.1, 1224.1, 1123.9, +0.5, +1.2, +0.5
Short 1 TF 1224.1, -0.5
Short 1 YM 17975, +10
Total YM -0
Total NQ +5.25
Total TF +2.6
2nd Trends require another set of entry models. But we get comfortable in our approach, and this comfort can also be aided by the trend prejudice that 1st trends often instill. So it was that I missed several decent bull breakout entries on the way back up today, and underestimated the 'after-life' so typical of 2nd trends. Stay alert. Your behavior models as a trader must be as rehearsed as your technical entry event models. If this, then that. Always note where you are in the day's events. Shift with the market. It's all in front of you. The market tells us everyday where the best entries are. Study those places wherein you were most apt to be stp'd out and proven wrong. ...therein lie the profits that have alluded you. ....and a good weekend to all...
Long 1 TF 1123.6, -0.5
Long 2 NQ 4397.75, 4397.75, +3.0, +5.0
Long 1 YM 17859, -3
Long 1 TF 1216.3, -0.3
Short 2 TF 1214.8, 1214.8, +0.5, -0.7
Short 1 YM 17894, -7
Short 1 NQ 4305.75, -3.0
Short 2 TF 1218.8, 12.8.8, -0.5, -0.5
Short 3 NQ 4409.25, 4409.25, 4409.0, +1.0, +.75, -1.5
Short 2 TF 1220.1, 1220.1, +1.1, +2.7
Short 1 TF 1222.8, -0.9
Short 3 TF 1224.1, 1224.1, 1123.9, +0.5, +1.2, +0.5
Short 1 TF 1224.1, -0.5
Short 1 YM 17975, +10
Total YM -0
Total NQ +5.25
Total TF +2.6
2nd Trends require another set of entry models. But we get comfortable in our approach, and this comfort can also be aided by the trend prejudice that 1st trends often instill. So it was that I missed several decent bull breakout entries on the way back up today, and underestimated the 'after-life' so typical of 2nd trends. Stay alert. Your behavior models as a trader must be as rehearsed as your technical entry event models. If this, then that. Always note where you are in the day's events. Shift with the market. It's all in front of you. The market tells us everyday where the best entries are. Study those places wherein you were most apt to be stp'd out and proven wrong. ...therein lie the profits that have alluded you. ....and a good weekend to all...
Thur Feb 19 Trade Summary
20150219
Short 1 TF 1223.0, +1.2
Short 1 TF 1223.5, +2.0
Short 1 TF 1126.2, -0.2
Long 1 TF 1225.5, -0.0
Total TF +3.0
Short 1 TF 1223.0, +1.2
Short 1 TF 1223.5, +2.0
Short 1 TF 1126.2, -0.2
Long 1 TF 1225.5, -0.0
Total TF +3.0
Wed Feb 18 Trade Summary
20150218
Short 2 TF 1222.1, 1122.4, -0.0, +1.5
Long 2 TF 1220.7, 1220.6, -0.6, +0.5
Long 2 TF 1218.8, 1218.8, +0.5, +1.6
Short 1 TF 1220.3, +1.5
Long 1 TF 1217.5, -0.1
Long 2 TF 1217.0, 1217.2, +3.0, +0.7
Total TF +8.6
Short 2 TF 1222.1, 1122.4, -0.0, +1.5
Long 2 TF 1220.7, 1220.6, -0.6, +0.5
Long 2 TF 1218.8, 1218.8, +0.5, +1.6
Short 1 TF 1220.3, +1.5
Long 1 TF 1217.5, -0.1
Long 2 TF 1217.0, 1217.2, +3.0, +0.7
Total TF +8.6
Tues Feb 17 Trade Summary
20150217
Long 2 NQ 4372.25, 4371.25, -1.5, +2.0
Short 1 YM 17945, -5
Short 1 TF 1221.6, -0.5
Short 1 YM 17948, -7
Short 1 TF 1223.5, +1.7
Short 1 NQ 4378.5, -0.75
Short 1 YM 17959, +10
Long 1 YM 17955, -5
Long 1 YM 17944, +13
Short 1 NQ 4383.0, -0.75
Long 1 TF 1224.3, -0.1
Long 1 NQ 4375.5, -3.0
Long 2 NQ 4375.25, 4374.5, -2.25, +2.0
Long 1 TF 1220.5, -0.5
Total YM +6
Total NQ -4.25
Total TF +0.6
Long 2 NQ 4372.25, 4371.25, -1.5, +2.0
Short 1 YM 17945, -5
Short 1 TF 1221.6, -0.5
Short 1 YM 17948, -7
Short 1 TF 1223.5, +1.7
Short 1 NQ 4378.5, -0.75
Short 1 YM 17959, +10
Long 1 YM 17955, -5
Long 1 YM 17944, +13
Short 1 NQ 4383.0, -0.75
Long 1 TF 1224.3, -0.1
Long 1 NQ 4375.5, -3.0
Long 2 NQ 4375.25, 4374.5, -2.25, +2.0
Long 1 TF 1220.5, -0.5
Total YM +6
Total NQ -4.25
Total TF +0.6
Fri Feb 13 Trades & Journal
20150213
Short 1 NQ 4361.75, +5.0
Short 1 YM 17969, -12
Long 1 TF 1217.6, +1.0
Short 1 YM 17986, -3
Short 2 YM 17986, 17986, +12, +20
Long 1 TF 1214.3, +1.0
Long 1 TF 1213.2, +1.5
Long 1 TF 1213.4, -0.0
Long 1 TF 1212.8, -0.6
Long 1 NQ 4349.0, +8.0
Long 2 TF 1212.4, 1212.4, +2.4, +2.7
Long 2 NQ 4350.57, 4350.25, -2.0, +2.0
Total YM +17
Total NQ +13
Total TF +8.0
Trading requires quick admissions of when your positioned wrong, or you have exited too soon. When at a critical turn, at a point where the market action is a persistent grind, and the individual index contracts are out of sync and giving false divergent signals, it is easy to get in too early before the turn is actually complete. Fine. You're not clairvoyant. So don't beat yourself up. Just look at what's in front of you without trend prejudice. Is the entry model there...or is it not? That is all you need to consider. And if it's still there, despite some whipsaw action, surviving the action that action knocked out your stops, then get back in. Stops are there to protect you from the big surprises, where you had everything assessed incorrectly, or failed to recognized the juncture as a potential inflection. Accept what the market is at every moment you are trading. It needs no excuse or reason. It just is. Observe the market. Be the Trade Plan. ...and a good weekend to all...
Short 1 NQ 4361.75, +5.0
Short 1 YM 17969, -12
Long 1 TF 1217.6, +1.0
Short 1 YM 17986, -3
Short 2 YM 17986, 17986, +12, +20
Long 1 TF 1214.3, +1.0
Long 1 TF 1213.2, +1.5
Long 1 TF 1213.4, -0.0
Long 1 TF 1212.8, -0.6
Long 1 NQ 4349.0, +8.0
Long 2 TF 1212.4, 1212.4, +2.4, +2.7
Long 2 NQ 4350.57, 4350.25, -2.0, +2.0
Total YM +17
Total NQ +13
Total TF +8.0
Trading requires quick admissions of when your positioned wrong, or you have exited too soon. When at a critical turn, at a point where the market action is a persistent grind, and the individual index contracts are out of sync and giving false divergent signals, it is easy to get in too early before the turn is actually complete. Fine. You're not clairvoyant. So don't beat yourself up. Just look at what's in front of you without trend prejudice. Is the entry model there...or is it not? That is all you need to consider. And if it's still there, despite some whipsaw action, surviving the action that action knocked out your stops, then get back in. Stops are there to protect you from the big surprises, where you had everything assessed incorrectly, or failed to recognized the juncture as a potential inflection. Accept what the market is at every moment you are trading. It needs no excuse or reason. It just is. Observe the market. Be the Trade Plan. ...and a good weekend to all...
Thur Feb 12 Trade Summary
20150212
Short 1 TF 1206.3, +1.6
Short 1 YM 17901, -7
Short 2 NQ 4328.0, 4327.75, -2.0, -1.0
Short 1 TF 1208.7, -0.7
Short 1 YM 17903, -4
Short 2 TF 1210.9, +0.5, +1.7
Long 1 TF 1207.9, +1.0
Long 2 YM 17877, 17877, +7, +17
Total YM +13
Total NQ -3.0
Total TF +4.1
Short 1 TF 1206.3, +1.6
Short 1 YM 17901, -7
Short 2 NQ 4328.0, 4327.75, -2.0, -1.0
Short 1 TF 1208.7, -0.7
Short 1 YM 17903, -4
Short 2 TF 1210.9, +0.5, +1.7
Long 1 TF 1207.9, +1.0
Long 2 YM 17877, 17877, +7, +17
Total YM +13
Total NQ -3.0
Total TF +4.1
Wed Feb 11 Trade Summary
20150211
Short 2 NQ 4287.25, 4288.0, -3.0, -3.0
Long 3 TF 1199.7, 1198.8, 1198.2, -1.4, -1.4, -0.7
Long 2 TF 1197.3, 1196.9, -0.0, +2.4
Long 1 NQ 4287.5, -0.5
Long 1 ES 2062.0, +1.0
Long 1 TF 1197.2, +1.0
Long 1 ES 2061.25, -1.0
Long 1 TF 1196.1, -0.5
Short 1 TF 1195.6, +0.1
Long 2 TF 1195.4, 1195.2, +1.3, +1.8
Total ES -0.0
Total NQ -6.5
Total TF +2.6
Short 2 NQ 4287.25, 4288.0, -3.0, -3.0
Long 3 TF 1199.7, 1198.8, 1198.2, -1.4, -1.4, -0.7
Long 2 TF 1197.3, 1196.9, -0.0, +2.4
Long 1 NQ 4287.5, -0.5
Long 1 ES 2062.0, +1.0
Long 1 TF 1197.2, +1.0
Long 1 ES 2061.25, -1.0
Long 1 TF 1196.1, -0.5
Short 1 TF 1195.6, +0.1
Long 2 TF 1195.4, 1195.2, +1.3, +1.8
Total ES -0.0
Total NQ -6.5
Total TF +2.6
Tues Feb 10 Trade Summary
20150210
Short 1 NQ 4239.75, -1.0
Long 1 TF 1195.8, +1.5
Long 1 TF 1192.3, -1.0
Long 1 YM 17724, +20
Long 2 TF 1189.9, 1190.0, +0.7, +2.0
Long 1 TF 1188.2, -0.5
Long 1 NQ 4231.75, +5.0
Long 1 TF 1186.6, +1.5
Total YM +20
Total NQ +4.0
Total TF +4.2
Short 1 NQ 4239.75, -1.0
Long 1 TF 1195.8, +1.5
Long 1 TF 1192.3, -1.0
Long 1 YM 17724, +20
Long 2 TF 1189.9, 1190.0, +0.7, +2.0
Long 1 TF 1188.2, -0.5
Long 1 NQ 4231.75, +5.0
Long 1 TF 1186.6, +1.5
Total YM +20
Total NQ +4.0
Total TF +4.2
Mon Feb 9 Trades & Journal
20150209
Short 1 TF 1201.4, -0.7
Short 1 TF 1204.00, +1.0
Long 1 TF 1202.0, +1.5
Short 2 TF 1106.4, 1106.3, +1.2, +0.7
Long 2 ES 2048.25, 2048.25, -1.0, -1.0
Long 1 TF 1205.6, -0.8
Long 1 ES 2046.75, +2.0
Long 2 TF 1203.2, 1303.2, -0.8, -0.8
Long 2 TF 1201.7, 1201.7, -0.7, -0.7
Long 2 YM 17692, 17692, +12, +20
Long 2 TF 1200.4, 1200.00, -1.4, +0.7
Long 1 TF 1199.5, -0.7
Long 1 TF 1198.8, 1198.9, +2.0, +3.0
Long 1 TF 1199.3, -0.5
Long 2 TF 1198.0, 1198.2, +1.7, +1.0
Total ES -0.0
Total YM +32
Total TF +5.7
A key stp-n-rev breakout trade was missed today on the short side, even after a successful short had already been near the High-of-Day just minutes prior. For some reason, had assumed some bullish trend prejudice and didn't see my way to the key elements clearly visible requiring a neutral stance that would accept further failure of the pullback as trigger and signal of a deeper reversal. When we get fixated on a trend belief, it's as if we won't let our minds hear what our eyes are already seeing. As Heraclitus noted, 'Fools, although they hear, are like the deaf'. Take a screen capture of those moments. Recall where your head was at the turn. Listen to what you should have heard. The market is always telling you the best places to enter if you'll only observe without prejudice and listen.
Short 1 TF 1201.4, -0.7
Short 1 TF 1204.00, +1.0
Long 1 TF 1202.0, +1.5
Short 2 TF 1106.4, 1106.3, +1.2, +0.7
Long 2 ES 2048.25, 2048.25, -1.0, -1.0
Long 1 TF 1205.6, -0.8
Long 1 ES 2046.75, +2.0
Long 2 TF 1203.2, 1303.2, -0.8, -0.8
Long 2 TF 1201.7, 1201.7, -0.7, -0.7
Long 2 YM 17692, 17692, +12, +20
Long 2 TF 1200.4, 1200.00, -1.4, +0.7
Long 1 TF 1199.5, -0.7
Long 1 TF 1198.8, 1198.9, +2.0, +3.0
Long 1 TF 1199.3, -0.5
Long 2 TF 1198.0, 1198.2, +1.7, +1.0
Total ES -0.0
Total YM +32
Total TF +5.7
A key stp-n-rev breakout trade was missed today on the short side, even after a successful short had already been near the High-of-Day just minutes prior. For some reason, had assumed some bullish trend prejudice and didn't see my way to the key elements clearly visible requiring a neutral stance that would accept further failure of the pullback as trigger and signal of a deeper reversal. When we get fixated on a trend belief, it's as if we won't let our minds hear what our eyes are already seeing. As Heraclitus noted, 'Fools, although they hear, are like the deaf'. Take a screen capture of those moments. Recall where your head was at the turn. Listen to what you should have heard. The market is always telling you the best places to enter if you'll only observe without prejudice and listen.
Fri Feb 6 Trades & Journal
20150206
Short 1 TF 1108.3, -1.4
Short 2 TF 1109.4, 1109.3, +1.4, +2.0
Long 1 NQ 4243.0, -3.0
Long 2 NQ 4238.25, 4238.5, +2.0, +5.0
Short 1 NQ 4245.25, -3.0
Long 1 1204.3, +1.7
Short 2 TF 1111.4, 1117, -1.0, +0.7
Long 2 TF 1110.5, 1110.2, -1.0, -0.7
Long 1 TF 1210.5, +1.5
Total NQ +1.0
Total TF +3.2
Patience is perhaps the most difficult attribute to learn as a Trader. And the moment that most calls for patience is when trying to recover from an earlier loss with the current entry that has, in fact, unbeknownst, captured the next intraday swing correctly. But because getting even or just better is such a safe haven of relief, you are all the more apt to chuck the patience right out the window for the meager piece of the looming excursion for the comfort of the Accountant's prime directive, security. How much easier it is to muster the required patience for the fuller excursion when today's P&L reflects no worries whatsoever, with enough in the bank to make the day and even some to spare. So little is required to show patience there that one can barely claim it to be patience at all. More accurate then to call it just being cavalier. No, true patience is defined, like bravery, by its opposite. As true bravery is only defined by overcoming the presence of fear, so patience is only defined by its opposite, whatever that is, shall we say, anxiety. When you can ride out a trade's fuller excursion in the face of real anxiety, only then can you say to have exhibited patience.
At another potential pivot juncture today, it was the Plan that failed me, almost as if to pour salt in the wounds of me having failed the management Plan earlier. But shaking that off, the same model appeared just before the end of the 1st Frame, and sticking to the model, recovered an earlier loss with a decent 1-lot position. Of the two more true, me or the Plan, the Plan's consistency in delivery always bests my own efforts at following it.
Also of special note today, was my repetition of yesterday's mistake of not giving the Rule of Alternation more respect. It only cost me half as much in losses as it did today, but it seemed that I only learned the lesson half way towards what it deserved. Pay attention. Renew efforts towards acknowledging precise conditions. Stay focused. Stick to the Trade Plan.
Short 1 TF 1108.3, -1.4
Short 2 TF 1109.4, 1109.3, +1.4, +2.0
Long 1 NQ 4243.0, -3.0
Long 2 NQ 4238.25, 4238.5, +2.0, +5.0
Short 1 NQ 4245.25, -3.0
Long 1 1204.3, +1.7
Short 2 TF 1111.4, 1117, -1.0, +0.7
Long 2 TF 1110.5, 1110.2, -1.0, -0.7
Long 1 TF 1210.5, +1.5
Total NQ +1.0
Total TF +3.2
Patience is perhaps the most difficult attribute to learn as a Trader. And the moment that most calls for patience is when trying to recover from an earlier loss with the current entry that has, in fact, unbeknownst, captured the next intraday swing correctly. But because getting even or just better is such a safe haven of relief, you are all the more apt to chuck the patience right out the window for the meager piece of the looming excursion for the comfort of the Accountant's prime directive, security. How much easier it is to muster the required patience for the fuller excursion when today's P&L reflects no worries whatsoever, with enough in the bank to make the day and even some to spare. So little is required to show patience there that one can barely claim it to be patience at all. More accurate then to call it just being cavalier. No, true patience is defined, like bravery, by its opposite. As true bravery is only defined by overcoming the presence of fear, so patience is only defined by its opposite, whatever that is, shall we say, anxiety. When you can ride out a trade's fuller excursion in the face of real anxiety, only then can you say to have exhibited patience.
At another potential pivot juncture today, it was the Plan that failed me, almost as if to pour salt in the wounds of me having failed the management Plan earlier. But shaking that off, the same model appeared just before the end of the 1st Frame, and sticking to the model, recovered an earlier loss with a decent 1-lot position. Of the two more true, me or the Plan, the Plan's consistency in delivery always bests my own efforts at following it.
Also of special note today, was my repetition of yesterday's mistake of not giving the Rule of Alternation more respect. It only cost me half as much in losses as it did today, but it seemed that I only learned the lesson half way towards what it deserved. Pay attention. Renew efforts towards acknowledging precise conditions. Stay focused. Stick to the Trade Plan.
Thur Feb 5 Trades & Journal
20150205
Short 2 NQ 4231.0, 4230.75, +3.0, -0.5
Short 1 TF 1198.1, -1.4
Short 1 TF 1198.8, -1.4
Short 3 TF 1199.1, 1199.1, 1199.1, -0.5, -0.5, -0.5
Long 2 NQ 4227.5, 4227.5, +2.0, +4.0
Long 1 NQ 4228.75, +5.0
Short 2 YM 17753, 17753, -8, -8
Short 2 NQ 4243.0, 4243.0, -0.5, -0.5
Short 2 NQ 4225.25, 4225.75, +2.0, +5.0
Short 1 TF 1201.3, +1.4
Total YM -16
Total NQ +19.4
Total TF -2.9
Better estimates of expected wave lengths can easily be made by simply acknowledging the Rule of Alternation. Today I left my focus relax on that issue and stepped into shorts too early in the TF twice. But when further signals in the TF failed to materialize, I did make up some ground in the NQ. Focus must exist under the dichotomy of being relaxed yet with razor sharp focus. Review the list of technical considerations as the potential Entry Model approaches. Act accordingly. Be disciplined.
Short 2 NQ 4231.0, 4230.75, +3.0, -0.5
Short 1 TF 1198.1, -1.4
Short 1 TF 1198.8, -1.4
Short 3 TF 1199.1, 1199.1, 1199.1, -0.5, -0.5, -0.5
Long 2 NQ 4227.5, 4227.5, +2.0, +4.0
Long 1 NQ 4228.75, +5.0
Short 2 YM 17753, 17753, -8, -8
Short 2 NQ 4243.0, 4243.0, -0.5, -0.5
Short 2 NQ 4225.25, 4225.75, +2.0, +5.0
Short 1 TF 1201.3, +1.4
Total YM -16
Total NQ +19.4
Total TF -2.9
Better estimates of expected wave lengths can easily be made by simply acknowledging the Rule of Alternation. Today I left my focus relax on that issue and stepped into shorts too early in the TF twice. But when further signals in the TF failed to materialize, I did make up some ground in the NQ. Focus must exist under the dichotomy of being relaxed yet with razor sharp focus. Review the list of technical considerations as the potential Entry Model approaches. Act accordingly. Be disciplined.
Wed Feb 4 Trade Summary
20150204
Short 1 YM 17609, +20
Long 2 TF 1189.1, 1189.3, +0.7, +1.5
Long 3 TF 1189.3, 1189.3, 1189.2, -0.7, -0.0, -0.4
Long 2 TF 1187.1, 1187.0, +2.0, +1.4
Total YM +20
Total TF +4.5
Short 1 YM 17609, +20
Long 2 TF 1189.1, 1189.3, +0.7, +1.5
Long 3 TF 1189.3, 1189.3, 1189.2, -0.7, -0.0, -0.4
Long 2 TF 1187.1, 1187.0, +2.0, +1.4
Total YM +20
Total TF +4.5
Tues Feb 3 Trades & Journal
20150203
Short 2 ES 2032.5, 2033.0, +1.25, +1.5
Long 2 NQ 4101.5, 4101.5, +3.0, +6.0
Short 2 TF 1192.2, 1191.9, +0.7, +2.0
Long 1 TF 1187.3, +1.5
Total ES +2.75
Total NQ +9.0
Total TF +4.2
Less trades is better than more. Looking back to yesterday, is even now hard to remember what possessed me to such over-trading. But that's how the mental game works. Sometimes it's as if something takes over for our better selves, unknown to us, as if on our behalf. That's why it's so important to give the Trader voice. The Trade Plan is the text of the Trader, and gives him voice. Read it aloud before each day's opening session, so that the Trader feels a presence and is the only voice in your head.
Today, I balked at taking a 3rd contract at the HOD as stipulated by the plan. The heat of the TF's bull leadership was so impressive, and I still had yesterday's 2nd Trend action bubbling up in my memory, and the pain of being stp'd out by it along the way. But the model was perfect. Trade the models. The Plan is comprised of them. They were included for good reason. Be the Plan.
Short 2 ES 2032.5, 2033.0, +1.25, +1.5
Long 2 NQ 4101.5, 4101.5, +3.0, +6.0
Short 2 TF 1192.2, 1191.9, +0.7, +2.0
Long 1 TF 1187.3, +1.5
Total ES +2.75
Total NQ +9.0
Total TF +4.2
Less trades is better than more. Looking back to yesterday, is even now hard to remember what possessed me to such over-trading. But that's how the mental game works. Sometimes it's as if something takes over for our better selves, unknown to us, as if on our behalf. That's why it's so important to give the Trader voice. The Trade Plan is the text of the Trader, and gives him voice. Read it aloud before each day's opening session, so that the Trader feels a presence and is the only voice in your head.
Today, I balked at taking a 3rd contract at the HOD as stipulated by the plan. The heat of the TF's bull leadership was so impressive, and I still had yesterday's 2nd Trend action bubbling up in my memory, and the pain of being stp'd out by it along the way. But the model was perfect. Trade the models. The Plan is comprised of them. They were included for good reason. Be the Plan.
Mon Feb 2 Trades & Journal
Trade Summary
20150202
Long 1 TF 1163.0, -1.4
Long 2 TF 1159.9, 1159.6, -1.0, -0.5
Long 3 NQ 4123.5, 4123.5, 4123.5, +2.0 +5.0, +10.0
Long 2 NQ 4116.25, 4116.0, -3.0, -3.0
Long 3 NQ 4115.5, 4115.5, 41.15.5, +2.0, +4.0, -2.0
Long 1 YM 17036, -12
Long 2 YM 17017, 17020, +12, -10
Long 3 TF 1149.1, 1149.5, 1149.5, +2.5, +2.0, +1.2
Short 2 NQ 4102.5, 4103.5, -3.0, +2.0
Short 2 TF 1153.8, 1153.7, -1.4, -0.7
Short 3 TF 1155.1, 1155.1, 1154.5, +1.4, -0.3, +1.1
Short 2 NQ 1141.0, 1141.0, -3.0, -3.0
Short 2 NQ 4114.0, 4113.0, +2.0, -2.5
Short 1 NQ 1114.5, -3.0
Short 2 NQ 4119.0, 4119.0, -3.0, -3.0
Short 2 TF 1157.8, 1157.8, +1.2, +2.0
Short 2 TF 1161.5, 1161.8, -0.7, +1.0
Short 2 YM 17118, 17118, +7, -10
Short 2 NQ 4146,75, 4146.75, -3.0, -3.0
Short 2 TF 1166.2, 1166.2, -0.0, -0.0
Total YM -13
Total NQ -7.5
Total TF +6.4
Volatility can draw you in like a moth to the flame. And when you start treading water and giving back profits, you can trade past your maximum number of trades allowed per frame thinking volatility will eventually come to serve you. I suffered this malaise today and gave up all the good NQ profits unable to accept the 'after life' of the 2nd trend. Today's action was especially whippy and should have filtered me out from taking those additional trades, but I succumbed to temptation and paid for it. Don't let market action and volatility tempt you to trade outside your limits. You won't miss all the opportunities. Sit it out for awhile. Take measure of the day.
20150202
Long 1 TF 1163.0, -1.4
Long 2 TF 1159.9, 1159.6, -1.0, -0.5
Long 3 NQ 4123.5, 4123.5, 4123.5, +2.0 +5.0, +10.0
Long 2 NQ 4116.25, 4116.0, -3.0, -3.0
Long 3 NQ 4115.5, 4115.5, 41.15.5, +2.0, +4.0, -2.0
Long 1 YM 17036, -12
Long 2 YM 17017, 17020, +12, -10
Long 3 TF 1149.1, 1149.5, 1149.5, +2.5, +2.0, +1.2
Short 2 NQ 4102.5, 4103.5, -3.0, +2.0
Short 2 TF 1153.8, 1153.7, -1.4, -0.7
Short 3 TF 1155.1, 1155.1, 1154.5, +1.4, -0.3, +1.1
Short 2 NQ 1141.0, 1141.0, -3.0, -3.0
Short 2 NQ 4114.0, 4113.0, +2.0, -2.5
Short 1 NQ 1114.5, -3.0
Short 2 NQ 4119.0, 4119.0, -3.0, -3.0
Short 2 TF 1157.8, 1157.8, +1.2, +2.0
Short 2 TF 1161.5, 1161.8, -0.7, +1.0
Short 2 YM 17118, 17118, +7, -10
Short 2 NQ 4146,75, 4146.75, -3.0, -3.0
Short 2 TF 1166.2, 1166.2, -0.0, -0.0
Total YM -13
Total NQ -7.5
Total TF +6.4
Volatility can draw you in like a moth to the flame. And when you start treading water and giving back profits, you can trade past your maximum number of trades allowed per frame thinking volatility will eventually come to serve you. I suffered this malaise today and gave up all the good NQ profits unable to accept the 'after life' of the 2nd trend. Today's action was especially whippy and should have filtered me out from taking those additional trades, but I succumbed to temptation and paid for it. Don't let market action and volatility tempt you to trade outside your limits. You won't miss all the opportunities. Sit it out for awhile. Take measure of the day.
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