20160408
Long 2 NQ 4490.75, 4491.25. +7.0, +2.0
Short 1 TF 1098.2, -1.4
Short 2 TF 1099.8, 1099.9, -1.5, -1.6
Short 3 TF 1101.5, 1101.5, 1102.2, -1.4, -1.4, -0.7
Short 4 TF 1102.05, 1102.5, 1102.5, 1102.7, -0.7, -0.7, -0.7, -0.4
Total NQ +9.0
Total TF -10.5
The personality of a days trend formation, sometimes referred to as 'price action', can be very alluring... and very deceptive. What the market looks like it's doing, it often is not. And in the case of the TF contract, the structure was not that unusual, but the stretched out volatility was above normal... or so at least I've tried to comfort myself with all morning, having had the biggest losing day in some months. Mistakes are the most important things you can learn from in trading. In the early stages of one's career, your mistakes and be so comprehensive and overlapping as to crowd out the proper identification of one from the other. At later stages of trading experience, one should be able to focus on just one or two critical errors in judgement that correctly identify the cause of a day's losses. and set a course of action to work on in the mental game. For today's needed clarity, I'm going to have to let it all just sit for a day or two, as I try to get my head around the best lessons today's mistakes have to offer me for trading in the days ahead. In a volatile market, you read of the entry model may, in fact, be correct, but a too-early entry can push the limits of your risk tolerance...and also your ego and confidence about the certainty of the entry ...a good weekend to all..
