20160330
Short 1 YM 17883, -0
Long 1 TF 1109.6, -0.7
Short 1 TF 1109.4, +1.1
Short 2 NQ 4507.75, 4508.50, +4.0, +2.0
Short 1 TF 1108.9, -0.5
Short 1 TF 1110.5, -1.0
Short 2 TF 1112.0, 1112.1, +3.0, +0.7
Total NQ +6.0
Total TF +2.6
All the textbooks and talking head guru's say 'the trend is your friend'. But nothing is more detrimental to the trader than trend prejudice. A trader has to stick to technical models, and await them patiently to appear at the right edge of the video screen, often despite his trend opinion. This is just the opposite of tape reading, intuition, trading market action, etc. And to make it even more tempting to tape read, sometimes a trader's entry models don't actually reacyh fruition before the turn or the breakout takes place. ...and you're left on the sidelines muttering that misleading and defeatist remark "I knew that would happen...". This is just how traders lose money. They bring that 'I knew that would happen' attitude to the market at some other juncture or even on the following day...and have a losing day with it. Have a Trade Plan. Stick with it. You don't know what the market is going to do next. Wait for your opportunities to gel. Don't break your discipline and your good habits that are not producing well today to overcome the opportunities you are so apparently missing. Some days are better for trading than others.... Tomorrow is another day, but not if you've lost 2 days in a row, and you're now forced to trade on the simulator.....
