20190919
Long 1 NQ 7953.75, -2.25
Short 2 RTY 1578.8, 1578.6, -0.2, -0.0
Short 2 NQ 7965.5, 7965.5, +2.0, -3.0
Short 1 RTY 1581.6, -0.1
Short 1 YM 72744, +20
Short 2 NQ 7070.5, 7070.5, +2.0, +5.5
Short 1 RTY 1582.1, -0.7
Short 2 RTY 1583.1, 1582.9, -0.7, -0.3
Short 2 NQ 7072.0, 7073.25, +2.25, +9.5
PM Trades
Long 2 YM 27133, 27133, +40, +40
Total YM +100
Total NQ +16.0
Total RTY -2.0
Second Frame trading takes a different trade plan than that of the first. Those initial ORB trade sets are put far behind you as the midday rolls on, and patience is required for the complete models to gel. But the most important underlying phenom in switching from First Frame to Second Frame trades is the ubiquitous Rule of Alternation. (When the Elliott Wavers use this rule, they mean something slightly different, but parallel in meaning just the same. And yes, I stole it from them, having once been an ardent--though discouraged--student of the wave theory.)
In general, if the First Frame is volatile, the Midday Frame tends to consolidate, yin yang, and if congested, is usually followed by the arrival of a clearer trend, yang yin. but the Rule of Alt can also apply to just the type of action the market is exhibiting. If conditions are choppy, stutter-step, full of lunges upward only to be followed by shallow grinding pullbacks producing more of the same, the alternate action will eventually take hold in the Second Frame where pricing will be steep, clean, impulsive and decisively holding their ground as the trend accrues real estate on your chart. I also find the same can be said of the Serial Sequent algorithm itself. If the First Frame fails to fulfill and complete the Sequent structures, those same structures reach fruition with striking clarity in the Midday Frame to counter the former action.
Thus, it can be wise, when in the throws of a difficult morning in attempt to meet a daily Trade Plan profit goal, to consider either keeping commitments small, and/or stop-loss risk likewise, or even curtailing trade altogether for the rest of the frame, so as to return with the day's 'powder' well intact for the anticipated change of charting behavior.
Thus it was that I returned to the screen this and the previous day but to take a single trade at a precious fulfillment of an Event Model's fruition, and easily met my daily profit goal in action I was far more easily able to capitalize on.
