20150515
Long 2 TF 1239.8, 1239.6, +0.4, -0.6
Short 1 TF 1238.6, +1.0
Long 1 YM 18183, +20
Short 1 TF 1239.2, -0.6
Short 2 NQ 4490.5, 4491.0, -1.5, +2.0
Short 1 TF 1241.4, -0.3
Short 1 NQ 4492.75, -2.0
Short 1 TF 1241.4, +2.0
Total YM +20
Total NQ -1.5
Total TF +1.9
Trading takes patience, and yet paradoxically, you must be prepared at every moment to strike. Playing the outfield in baseball makes a good comparison. But in trading, a lack of patience leads directly to mistakes. Today, towards the end of the frame, I showed decent patience in waiting for bear reaction while still in a short that wouldn't roll over from its short entry level. I got stopped out and thought that was about the end of my day. ...and then the YM and NQ added in with short signals of their own, and the TF's stp-out proved to be nothing but a false breakout. What to do, as now the selling is underway across the board, but you're out of all positions...? Wait to see if the YM and NQ sell signals hold while TF makes a retest of its most recent breakout high. They did, and the TF did a sweet little retest to the breaklap, just enough to get me back into the short I was made to look so stupid getting stopped out of. Don't worry about looking the stupid. The market is always smarter than you. Accept your stop-outs. Trade what's in front of you, swallow your pride, and if the signal is still there, just get back into the trade you got knocked out of. ..and a good weekend to all....
