20171116
Short 2 NQ 6311.75, 631175, +2.0, +5.0
Short 1 NQ 6310.5, -2.0
Short 3 RTY 1478.3, 1478.3, 1478.3, -1.4, -1.4, -1.4
Short 2 NQ 6315.5, 6315.5, -2.0, -3.0
Short 4 RTY 1479.9, 1479.9, 1479.9, 1479.9, +1.2, +1.2,
Short 2 NQ 6317.75, 6317.75, -0.0, -0.0
Short 2 NQ 6317.75, 6318.50 , 6319.25, -2.0, -2.0, -2.0
Short 4 RTY 1481.4, 1481.4, 1481.4, +1.0, +1.0, -0.4, -0.4
Short 2 RTY 1482.5, 1482.5, 1482.7, 1482.7, -0.7, -0.7, -0.7, -0.7,
Short 2 NQ 6330.5, 6330.5 -3.0, -3.0
Short 4 RTY 1486.4, 1486.4, 1486.5, 1486.5, +1.0, +1.0, +2.4, +2.4, -0.3, -0.3
Short 2 NQ 6334.75, 6334.50, -2.0, -2.0
Short 2 NQ 6336.0, 6336.0, -1.5, -1.5
Short 4 RTY 1486.5, 1486.5, 1486.9, 1486.9, -1.4, -1.4, -0.5, -0.5
Total NQ -19.0
Total RTY -1.0
The most common of the 3 possible Day Models is Test-n-Reject. It occurs on some 80% of all trading days, and therefore increases the odds of success to positions if the Trader fades the 1st trend direction of the day. The 2nd Day Model is Persistent Trend Day. It starts off in one direction and goes....and goes....and goes. Sometimes it doesn't even give you the 1st Chance Texaco setup to gas up and get in sync with. On those days, breakouts pay the way to profits. But catching onto its presence within the early action of the 1st frame is not always an easy thing to I.D. But those most adept at flipping one's rally hat around and going with those breakouts are rewarding handsomely. The game is to partial out the position to pay for the potential break-out failure, and ride the 2nd with a trading stop or reasonable 2nd unit mechanical target. ..wait for a pause and the correctly Fractal Inflection Count, and do it all over again. Although that strategy is in my Trade Plan, I was just mentally unable to flip my hat around, and so achieved a days loss limits trying to find a significant turn. Be flexible and prepared for the surprising outcome. How do I know this is true? Because today, one of the members I was trading beside in the chat room, a student, with basically the same Trade Plan as mine, kept to his plan and took those Inflection Breakout signals that I was apparently unfit for emotionally to take myself. The consequence was that he ended up with the same numerical figure in profits for the day that I had in losses. What good is a plan if you don't trade it?
Your Trade Plan should include both the best models to fade the action as well to participate in action break-out. Especially in a bull market where a succession of lows have been taken out and popular opinion sees those broken lows as indicative of a budding bear. They are not. Broken lows are simply WorkDone, and position the market to rise on the back of shorts and long re-entries after stop-outs.
