20170523
Long 2 TF 1373.5, 1373.6, +1.0, +1.3
Long 4 TF 1371.1, 1371.1, 1370.7, 1370.7, -0.0, -0.0, -0.5, -0.5
Short 2 TF 1370.2, 1370.2, -0.0, -0.0
Short 2 TF 1372.2, 1372.2, +0.7, -0.7
Short 2 TF 1373.3, 1373.2, +0.7, +3.0
Short 4 TF 1371.4, 1372.0, 1372.4, 1372.6, -1.4, -0.0, +0.5, +1.2
Short 1 NQ 5706.0, +3.0
Short 5 TF 1377.5 13775. 1377.5, 1378.2, 1378.2, -.0.0 +0.4, +0.4, +1.0, 1.0
2nd frame trades:
Short 2 TF 1379.6, 1379.6, -1.4, -1.4
Short 4 TF 1381.3, 1381.3, 1381.3, 1381.3, , -0.2, -0.2, -0.2, -0.2
Short 2 TF 1381.9, 1381.9, -0.1, -0.1
Short 2 TF 1382.1, 1382.1, +0.9, -0.3
Short 1 NQ 5708.5, +10.0
Short 3 TF 1382.6, 1382.6, 1382.8, -0.0, -0.0, +2.0
Total NQ +13.0
Total TF +6.1
Grinding action can really draw you in. A climax is expected at every over-bought resistance level, and yet it won't break. Today I lost half of the 1st frame profits trying to find a sharp TF break into the 2nd frame. When it finally came, I was just trying to get back my loses, and thus did not milk the excursion of even half what it was worth. consolation prize was that I held a single NQ short contract much longer, but netted very little better than I already had at the end of the 1st frame...
If you're caught in a grinding trend, expect that it will be fed by opinions exactly like yours. Each premature short position only helping to float the grind further. Not until market action has cleared all those traders out who were just to smart to be fooled by the grind will prices finally crack, frustrating the majority, just as the market is designed to do.
