20160518
Short 1 TF 1095.0, +0.9
Short 3 TF 1098.6, 1199.4, 1199.6, -1.6, -1.4, -1.4
Short 2 NQ 4331.5, -1.0, -1.0
Short 3 TF 1101.9, 1101.9, 1101.9, -0.5, -0.5, -0.5
Short 3 TF 1104.3. 1104.3, 1104.3, +1.0, +1.0, -0.3
Short 3 TF 1106.3, 1106.3, 1106.0, +2.3, +1.3, +1.4
Long 2 TF 1102.2, 1102.0, +0.5, +1.2
Long 1 TF 1101.3, -0.7
Long 2 TF 1100.4, 1099.9, -1.0, -0.5
Long 2 TF 1099.7, 1099.7, +1099.7, +1.4, +1.5
Total TF +3.1
The most common of all day models is the Test-n-Reject. But the last 3 days have all seen Persistent Trend Day models, albeit in opposite directions. If the most common of all day models is Test-n-Reject, then the first trend tends to be false, and odds therefore favor in fading it. But that's not so easy to know during the action, and today, the market stretched the 1st Trend of what seems to be turning out to be a Persistent Trend into 3 full series of thrusts before enacting a turn. After a set of day crushing stp-outs, that turn at the 3rd series restored my P&L, and allowed me some places to buy pullbacks, but my loss limit was at the rim of a day-cancelling requirement before it arrived. How to handle being out of Trade Plan margin for the day when another entry signal finally appears? .... very carefully, and with tight stops so as to keep the losses of that final effort to a minimum should it also fail to show production. Stay calm. Stay focused. The action can beat your psyche into a state of blurred vision. See what's in front of you. Trade what's in front of you until you've either hit your loss limit, your profit goal, your maximum number of allowed trades per frame, or the frame clock you are trading runs out on your efforts. Tomorrow is another day. Be sure your P&L is still there for it. ....
