20190822
Short 1 RTY 1514.2, -1.4
Short 2 NQ 7772.5, 772.0.0, +3, +14.75
Short 1 RTY 1517.7, +2.2
Short 1 RTY 1516.5, +0.2
Short 1 RTY 1517.5, +2.3
Long 1 NQ 7731.0, -2.25
Long 1 NQ 7725.0, -2.25
Long 2 NQ 7721.5, 7721.5, -2.25, -2.25
Long 2 NQ 7718.0, 7718.0, -1.25, -1.25
Long 2 RTY 1507.0, 1507.0, -1.5, -1.5
Long 2 NQ 7705.0, 7705.0, +5.0, -2.25
Long 2 YM 26165, 26167, -8, -8
Long 1 NQ 7660.25, +14.75
Long 1 RTY 1499.1, +4.0
Long 2 YM 26113, 26115, +20, -1
Total YM +3
Total NQ +23.75
Total RTY +4.3
"Second trends are where the surprises hide." ....is a mantra I preach in the training course again and again. But that didn't stop me stepping into trying to buy this first frame decline too early at several levels. ...and that in spite of being short near the 1st trend's highs in both the RT and the NQ.. In fact, it would be fair to day that I stepped into fading this 2nd trend with longs BECAUSE I had been been short near the highs. You might think that having shorted the market earlier would fill me with bear prejudice as the profits rolled in. But in fact, the profits were so so quick and so easy, it left a thirst for more trading and a challenge that might make it feel like I had actually the done the work of having to achieve it. In a way, it was self destructive, but perhaps more fairly, it was simply looking to recapture the accolades of being in the winning mode. You see, giving up your position gives up the accolade of your position. You can no long wave your position around when you have traded it in for profits. Profits are the opposite of glory. But it is glory that drives the heart of man, not profits.. and so you get drawn back into trades that are by nature far more risky in efforts to get the glory back, there here no obviously pullback signals to get in-trend shorts positioned.
True Self is a book I wrote about this mental phenomenon, and a number of others that typically inflict traders. You can check it out on Amazon.com. ...and a good day remaining to all..
