20160511
Long 1 NQ 4388.5, -2.0
Long 2 TF 1120.6, 1120.7, -0.7, -0.7
Short 2 TF 1120.1, 1120.1, +0.7, +1.1
Long 2 YM 17784, 11784, -7, -7
Long 2 YM 17766, 17766, +14, +19
Short 1 TF 1122.7, +1.0
Short 1 TF 1121.6, +1.2
Total YM +19
Total NQ -2.0
Total TF +2.6
Sometimes entry models are incomplete, or arrive with negative filters that shift entry to retest patterns or multi-contract confirmation. Sometimes these filters keep you out of big winning trades, and sometimes they prevent you early entry against the prevailing trend. Today, we faced several of these against price extremes in the TF, the YM and the NQ, but always at different points, so as to lack that extra multi-contract confirmation we include in our models. An alternative to staying out altogether when entry models are thin, is to take a minimal small lot position against a tight stp. One or two of such entries, if they fail, has a minimal affect on the day's profit goal. But even the slightest hesitation in those can often mean you miss the trade altogether. Stay focused. Have a Trade Plan that includes all contingencies and alternatives. Let 'If this, then what' be your modus operandi.
