20140606
Long 1 YM 16864, +20
Long 1 TF 1159.3, -0.0
Short 2 TF 1181.8, 1181.6, +0.5, -0.7
Short 1 ES 194575. -0.75
Short 1 NQ 3790.25, +3.0
Short 2 YM 16898, 15900, +10, +5
Long 1 ES 1944.75, +1.0
Short 1 NQ 3788.0, +2.0
Total ES +0.5
Total NQ +5.0
Total YM +35
Total TF -0.2
Funny how conscious I was all week of finishing on a positive note after having had such a bad Monday. ...how the losses linger and the profits are quickly forgot... Today, I gave up the TF ORB breakout play at break even after it acted so whippy from the get go, only to watch it soar minutes later.. Was already in the YM with the same trade, but it's the TF that makes the profit goals each day, not the YM. In any case, did at least get back mostly on track after Monday with profitable days thereafter. Getting back in sync is the best means to recovering from losses, not 'getting even'. Wish all a good weekend.... Stay focused. Recapture the discipline.
Thurs Jun 5 Trade Summary
20140605
Short 1 TF 1132.5, -0.0
Short 2 YM 16755, 16755, +5, +17
Long 2 ES 1925.0, 1925.25, -1.5, +1.0
Long 1 TF 1128.6, -0.5
Long 1 TF 1127.8, -0.5
Long 2 TF 1126.9, 1126.9, +0.7, -0.9
Long 1 TF 1126.6, +2.5
Short 1 TF 1129.2, -0.1
Short 1 TF 1129.3, -0.4
Short 1 TF 1132.7, +1.5
Total YM +22
Total ES -0.5
Total TF +2.3
Short 1 TF 1132.5, -0.0
Short 2 YM 16755, 16755, +5, +17
Long 2 ES 1925.0, 1925.25, -1.5, +1.0
Long 1 TF 1128.6, -0.5
Long 1 TF 1127.8, -0.5
Long 2 TF 1126.9, 1126.9, +0.7, -0.9
Long 1 TF 1126.6, +2.5
Short 1 TF 1129.2, -0.1
Short 1 TF 1129.3, -0.4
Short 1 TF 1132.7, +1.5
Total YM +22
Total ES -0.5
Total TF +2.3
Wed Jun 4 Trades & Journal
20140604
Long 2 NQ 3721.5, 3721.5, -0.0, -1.0
Long 2 TF 1119.4, 1119.4, +1.0, +2.0
Long 2 TF 1117.9, 1117.9, +0.7, -0.7
Long 2 TF 1117.0, 1116.9, +0.7, +4.0
Short 1 TF 1122.2, +1.0
Long 1 TF 1121.5, +1.0
Total NQ -1.0
Total TF +9.7
Most days are not Persistent Trends Up or Down. So best to accommodate with a Trade Plan of entry models the more typical Day Model pattern of Test-n-Reject. I remain determined, however, to play the momentum breakout trades when the fairly exacting breakout models I require for my Plan do, in fact, appear. ...there just weren't any today I can reprimand or congratulate myself for facing. As for making up Monday's losses, no one trading day is meant ever to have as a goal the erasing of previous losses. The goal is just to get back in sync. Trade what's in front of you. Trade the entry models as they appear at the right edge of the video screen and no other. Be the Plan, and the losses will be erased as the profits take care of themselves.
Long 2 NQ 3721.5, 3721.5, -0.0, -1.0
Long 2 TF 1119.4, 1119.4, +1.0, +2.0
Long 2 TF 1117.9, 1117.9, +0.7, -0.7
Long 2 TF 1117.0, 1116.9, +0.7, +4.0
Short 1 TF 1122.2, +1.0
Long 1 TF 1121.5, +1.0
Total NQ -1.0
Total TF +9.7
Most days are not Persistent Trends Up or Down. So best to accommodate with a Trade Plan of entry models the more typical Day Model pattern of Test-n-Reject. I remain determined, however, to play the momentum breakout trades when the fairly exacting breakout models I require for my Plan do, in fact, appear. ...there just weren't any today I can reprimand or congratulate myself for facing. As for making up Monday's losses, no one trading day is meant ever to have as a goal the erasing of previous losses. The goal is just to get back in sync. Trade what's in front of you. Trade the entry models as they appear at the right edge of the video screen and no other. Be the Plan, and the losses will be erased as the profits take care of themselves.
Tues Jun 3 Trades & Journal
20140603
Short 1 TF 1120.1, -0.1
Short 1 TF 1126.3, -0.3
Short 1 TF 1127.2, -0.4
Short 1 ES 1921.75, +1.0
Long 3 TF 1123.6, 1123.7, 1123.8, +1.0, +1.0, +0.8
Long 1 TF 1119.9, +1.3
Total ES +1.0
Total TF +3.3
Mostly traded within the Plan today, but did miss one critical inflection breakout that could have made for a much better day. Maybe just a touch gun shy from yesterday's poor performance, and always like to avoid two losing days in a row. The inflection trade model missed is one am only moving into the trade plan after many weeks consideration.... plus the blistering opportunity lost in yesterday's early collapse. At some point... who knows when... the bear will surely return, and as they have a tendency to fall much more impulsively than they rise, another 1st trend breakout strategy could at least add to the meager list of breakouts and momentum trades currently in the Plan. Stay focused. Re-commit to the Plan. Commit to the changes within the Plan.
Short 1 TF 1120.1, -0.1
Short 1 TF 1126.3, -0.3
Short 1 TF 1127.2, -0.4
Short 1 ES 1921.75, +1.0
Long 3 TF 1123.6, 1123.7, 1123.8, +1.0, +1.0, +0.8
Long 1 TF 1119.9, +1.3
Total ES +1.0
Total TF +3.3
Mostly traded within the Plan today, but did miss one critical inflection breakout that could have made for a much better day. Maybe just a touch gun shy from yesterday's poor performance, and always like to avoid two losing days in a row. The inflection trade model missed is one am only moving into the trade plan after many weeks consideration.... plus the blistering opportunity lost in yesterday's early collapse. At some point... who knows when... the bear will surely return, and as they have a tendency to fall much more impulsively than they rise, another 1st trend breakout strategy could at least add to the meager list of breakouts and momentum trades currently in the Plan. Stay focused. Re-commit to the Plan. Commit to the changes within the Plan.
Mon Jun 2 Trades & Journal Addendum
20140602
Short 2 YM 16727, 16727, -3, -3
Long 1 TF 1131.4, -0.5
Long 2 TF 1129.5, 1129.4, -0.7, -0.5
Long 2 TF 1128.2, 1127.8, -1.4, -0.7
Long 2 NQ 3724.5, 3724.5, +2.0, -1.0
Long 1 ES 1919.75, -1.5
Long 2 TF 1125.8, 1125.9, +1.0, -0.5
Long 2 TF 1122.8, 1122.7, +1.0, -0.5
Long 2 NQ 3718.25, 3718.25, -2.25, -2.25
Long 3 YM 16690, 16690, 16690, -7, -7, -7
Long 2 TF 1120.3, 1120.3, -0.5, -0.5
Long 3 YM 16679, 16679, 16681, +10, +10, +7
Short 1 TF 1119.5, -0.5
Short 3 TF 1125.8, 1126.0, 1126.6, -1.3, -1.1, -0.5
Total YM -0
Total ES -1.5
Total NQ -3.5
Total TF -7.2
Big stretches both ends today exceeded all my trade signals and made this the worse trading day for quite awhile. And feeling the need to 'get even', allowed myself to get sucked into trading after both my loss quota and frame limitations should have kicked me out for the day, nearly doubling my losses instead of getting even. Today was indeed challenging, but there was no reason but weakness to pile it on at the end... Now, one day's loss limit was nearly made into 2 in one day. Shake it off and come back tomorrow. That's what traders do.... Resolve to restore the discipline of the behavior triggers. Any trade plan must accommodate losing days. When things settle, must re-examine my trades and my motives. But excess in the face of unusual volatility and adversity was the biggest mistake. Regain focus. Return to the Plan.
Addendum: It only took getting up from my desk and away from my screens to better examine my motives for exceeding my loss limits today. I was reluctant to give up a long winning streak, in fact, the longest in my career. And two of the best months I've ever had in total profits back to back inflicted me with a notion of arrogance and invincibility. It's as if any habits, even winning streaks, can have a deleterious effect on trading. Whether it be the seeking of glory or arrangement of profits and stops for greater security...all affect your trading to some degree. We can never quite become pure killing machines, but that is what the Trader strives for. He must leave the emotions to the Analyst and the Accountant and the relative comfort they are confined to by not being allowed to trade our accounts.... Stay strong. As for any changes to the Trade Plan as a result of today's action, there are none immediately. However, I did ignore a potential breakdown play what would ahve triggered a short entry just a quarter or third the way down, shortly after the opening. A Serial Sequent rule invites this trade entry, but as breakouts are the least of my plan, this one, like many others, is not included. Must review the frequency of this one's occurrence to see if it should be added to the Plan.
Short 2 YM 16727, 16727, -3, -3
Long 1 TF 1131.4, -0.5
Long 2 TF 1129.5, 1129.4, -0.7, -0.5
Long 2 TF 1128.2, 1127.8, -1.4, -0.7
Long 2 NQ 3724.5, 3724.5, +2.0, -1.0
Long 1 ES 1919.75, -1.5
Long 2 TF 1125.8, 1125.9, +1.0, -0.5
Long 2 TF 1122.8, 1122.7, +1.0, -0.5
Long 2 NQ 3718.25, 3718.25, -2.25, -2.25
Long 3 YM 16690, 16690, 16690, -7, -7, -7
Long 2 TF 1120.3, 1120.3, -0.5, -0.5
Long 3 YM 16679, 16679, 16681, +10, +10, +7
Short 1 TF 1119.5, -0.5
Short 3 TF 1125.8, 1126.0, 1126.6, -1.3, -1.1, -0.5
Total YM -0
Total ES -1.5
Total NQ -3.5
Total TF -7.2
Big stretches both ends today exceeded all my trade signals and made this the worse trading day for quite awhile. And feeling the need to 'get even', allowed myself to get sucked into trading after both my loss quota and frame limitations should have kicked me out for the day, nearly doubling my losses instead of getting even. Today was indeed challenging, but there was no reason but weakness to pile it on at the end... Now, one day's loss limit was nearly made into 2 in one day. Shake it off and come back tomorrow. That's what traders do.... Resolve to restore the discipline of the behavior triggers. Any trade plan must accommodate losing days. When things settle, must re-examine my trades and my motives. But excess in the face of unusual volatility and adversity was the biggest mistake. Regain focus. Return to the Plan.
Addendum: It only took getting up from my desk and away from my screens to better examine my motives for exceeding my loss limits today. I was reluctant to give up a long winning streak, in fact, the longest in my career. And two of the best months I've ever had in total profits back to back inflicted me with a notion of arrogance and invincibility. It's as if any habits, even winning streaks, can have a deleterious effect on trading. Whether it be the seeking of glory or arrangement of profits and stops for greater security...all affect your trading to some degree. We can never quite become pure killing machines, but that is what the Trader strives for. He must leave the emotions to the Analyst and the Accountant and the relative comfort they are confined to by not being allowed to trade our accounts.... Stay strong. As for any changes to the Trade Plan as a result of today's action, there are none immediately. However, I did ignore a potential breakdown play what would ahve triggered a short entry just a quarter or third the way down, shortly after the opening. A Serial Sequent rule invites this trade entry, but as breakouts are the least of my plan, this one, like many others, is not included. Must review the frequency of this one's occurrence to see if it should be added to the Plan.
Fri May 30 Trade Summary
201405230
Short 1 TF 1138.1, +1.3
Long 2 TF 1137.1, 1137.0, +1.7, +1.0
Short 1 TF 1138.6, +1.4
Long 1 NQ 3734.25, +5.0
Total NQ +5.0
Total TF +5.4
Short 1 TF 1138.1, +1.3
Long 2 TF 1137.1, 1137.0, +1.7, +1.0
Short 1 TF 1138.6, +1.4
Long 1 NQ 3734.25, +5.0
Total NQ +5.0
Total TF +5.4
Thurs May 29 Trades & Journal
201405229
Short 1 TF 1139.3, -0.4
Long 1 TF 1138.3, -0.7
Long 2 TF 1137.6, 1137.6, -0.7, -0.7
Long 3 TF 1136.4, 1136.4, 1137.2, +1.0, +1.5, +1.0
Long 2 TF 1135.7, 1136.0, -1.4, -0.7
Long 2 TF 1134.5, 1134.0, -0.0, -0.7
Long 3 TF 1133.3, 1133.4, 1133.0, -0.7, -0,7, +1.0
Long 3 TF 1133.1, 1133.1, 1133.1, +1.0, +1.7, +0.9
Long 1 TF 1134.5, -0.5
Short 2 TF 1135.1, 1135.1, +0.7, -0.4
Short 2 TF 1138.1, 1137.9, +0.8, +1.0
Total TF +4.4
Patience is such an important attribute in trading. Problem is.... when do you apply it, and when do you strike quickly at the fleeting opportunities...? Today, for at least one set of critical stp-outs, I ignored a guide rule of this method's entry levels and should have been more patient before entering. But later on, when it required a quick strike, I hesitated and the entry opportunity was quickly lost. One mistake tempering me in the wrong direction for the 2nd. This is how the market affects you. ...or should I say, how your own trading errors can encourage you to do in subsequent entries the repair work you should have applied earlier, and are misapplying now. This is trading. "That was then, this is now", has never been more important to understand and practice. Stay disciplined.
Short 1 TF 1139.3, -0.4
Long 1 TF 1138.3, -0.7
Long 2 TF 1137.6, 1137.6, -0.7, -0.7
Long 3 TF 1136.4, 1136.4, 1137.2, +1.0, +1.5, +1.0
Long 2 TF 1135.7, 1136.0, -1.4, -0.7
Long 2 TF 1134.5, 1134.0, -0.0, -0.7
Long 3 TF 1133.3, 1133.4, 1133.0, -0.7, -0,7, +1.0
Long 3 TF 1133.1, 1133.1, 1133.1, +1.0, +1.7, +0.9
Long 1 TF 1134.5, -0.5
Short 2 TF 1135.1, 1135.1, +0.7, -0.4
Short 2 TF 1138.1, 1137.9, +0.8, +1.0
Total TF +4.4
Patience is such an important attribute in trading. Problem is.... when do you apply it, and when do you strike quickly at the fleeting opportunities...? Today, for at least one set of critical stp-outs, I ignored a guide rule of this method's entry levels and should have been more patient before entering. But later on, when it required a quick strike, I hesitated and the entry opportunity was quickly lost. One mistake tempering me in the wrong direction for the 2nd. This is how the market affects you. ...or should I say, how your own trading errors can encourage you to do in subsequent entries the repair work you should have applied earlier, and are misapplying now. This is trading. "That was then, this is now", has never been more important to understand and practice. Stay disciplined.
Wed May 28 Trades & Journal
201405228
Long 1 YM 16631, -7
Long 2 TF 1134.6, 1134.6 , +1.2, +2.7
Long 1 TF 1133.5, -0.5
Long 2 TF 1131.6, 1131.9, +1.0, +1.0
Long 1 TF 1166.3, -0.6
Long 2 YM 16606, 16608, +12, -5
Long 1 NQ 3712.0, -2.0
Long 2 TF 1131.1, 1131.5, +1.0, -0.5,
Long 1 TF 1130.9, -0.5
Short 1 YM 16634, -3
Short 1 TF 1134.3, -0.5
Short 2 TF 1135.0, 1134.9, -0.5, -0.3
Short 2 TF 1135.2, 1135.4, -0.3, +0.5
Total YM -3
Total NQ -2.0
Total TF +3.7
The quality of market action changes from day to day. Some days are brutally choppy, some impulsive and trending. Frustration can build when entry models that normally succeed so well get chewed up by today's current action. Don't become frustrated with choppy action. Just step back. Some days are better for trading than others. When all you're doing is giving back your earlier profits, you may be trading for revenge or desperation... that kind of stubborn refusal that sets in when you're sure your next trade is going to get it all back. It probably won't. In fact, you'll probably just lose more. Quit and come back to trade another day....
Long 1 YM 16631, -7
Long 2 TF 1134.6, 1134.6 , +1.2, +2.7
Long 1 TF 1133.5, -0.5
Long 2 TF 1131.6, 1131.9, +1.0, +1.0
Long 1 TF 1166.3, -0.6
Long 2 YM 16606, 16608, +12, -5
Long 1 NQ 3712.0, -2.0
Long 2 TF 1131.1, 1131.5, +1.0, -0.5,
Long 1 TF 1130.9, -0.5
Short 1 YM 16634, -3
Short 1 TF 1134.3, -0.5
Short 2 TF 1135.0, 1134.9, -0.5, -0.3
Short 2 TF 1135.2, 1135.4, -0.3, +0.5
Total YM -3
Total NQ -2.0
Total TF +3.7
The quality of market action changes from day to day. Some days are brutally choppy, some impulsive and trending. Frustration can build when entry models that normally succeed so well get chewed up by today's current action. Don't become frustrated with choppy action. Just step back. Some days are better for trading than others. When all you're doing is giving back your earlier profits, you may be trading for revenge or desperation... that kind of stubborn refusal that sets in when you're sure your next trade is going to get it all back. It probably won't. In fact, you'll probably just lose more. Quit and come back to trade another day....
Tues May 27 Trade Summary
201405227
Short 1 TF 1133.9, -0.5
Short 3 YM 16645, 16645, 16646, -5, -5, -4
Long 2 TF 1134.3, 1134.5, +0.7, +2.0
Short 1 TF 1137.8, -0.5
Short 4 TF 1138.1, 1138.6, 1138.8, 1138.8, -0.0, +0.7, -0.6, +0.7
Short 1 TF 1139.0, -0.8
Short 1 TF 1139.7, -0.6
Short 2 TF 1141.0, 1141.5, -0.9, +0.7
Short 3 TF 1143.4, 1143.4, 1143.4, 1143.2, +0.7, +1.0, +1.6, +0.7
Total YM -14
Total TF +4.9
Short 1 TF 1133.9, -0.5
Short 3 YM 16645, 16645, 16646, -5, -5, -4
Long 2 TF 1134.3, 1134.5, +0.7, +2.0
Short 1 TF 1137.8, -0.5
Short 4 TF 1138.1, 1138.6, 1138.8, 1138.8, -0.0, +0.7, -0.6, +0.7
Short 1 TF 1139.0, -0.8
Short 1 TF 1139.7, -0.6
Short 2 TF 1141.0, 1141.5, -0.9, +0.7
Short 3 TF 1143.4, 1143.4, 1143.4, 1143.2, +0.7, +1.0, +1.6, +0.7
Total YM -14
Total TF +4.9
Fri May 23 Trades & Journal
201405223
Long 1 YM 16533, -1
Long 2 TF 1111.7, 1111.7, +0.7, +2.0
Long 2 NQ 3646.75, 3646.75, +2, +6.0
Short 1 TF 1117.8, +0.5
Long 1 TF 1118.4, +2.0
Total YM -1
Total NQ +8.0
Total TF +5.2
Took the inflection breakout trade today, and although I was only in with a 1-lot, was at least in the game and fulfilled Trade Plan requirement. Want to wish all a peaceful and thoughtful Memorial Weekend. We honor all those who have fought for our country, both the living and especially the dead, who have made the ultimate sacrifice on the altar of freedom. We salute them all, and say: Freedom First!! There is no peace without it. Semper Fi.
Thurs May 22 Trade Summary
20140522
Short 1 TF 1102.1, -0.3
Short 2 TF 1108.9, 1109.2, -0.7, +0.7
Short 2 NQ 3644.75, 3644.75, -1.5, -1.5
Short 1 ES 1888.75, +2.0
Long 1 YM 16523, -6
Long 2 TF 1104.7, 1104.7, -0.7, -0.7
Long 2 TF 1104.1, 1104.1, -0.7, -0.7
Long 3 TF 1103.2, 1103.2, 1103.2, +1.0, +3.0, +4.5
Total ES +2.0
Total YM -7
Total NQ -3.0
Total TF +5.4
Short 1 TF 1102.1, -0.3
Short 2 TF 1108.9, 1109.2, -0.7, +0.7
Short 2 NQ 3644.75, 3644.75, -1.5, -1.5
Short 1 ES 1888.75, +2.0
Long 1 YM 16523, -6
Long 2 TF 1104.7, 1104.7, -0.7, -0.7
Long 2 TF 1104.1, 1104.1, -0.7, -0.7
Long 3 TF 1103.2, 1103.2, 1103.2, +1.0, +3.0, +4.5
Total ES +2.0
Total YM -7
Total NQ -3.0
Total TF +5.4
Wed May 21 Trade Summary
20140521
Short 1 YM 16415, -6
Long 2 TF 1102.0, 1102.1, +0.7, +1.7
Long 2 NQ 3617.25, 3617.5, +2.0, -0.25
Long 2 NQ 3616.25, 3617.5, +5.0, +2.0
Short 1 NQ 3625.25, -0.5
Long 2 TF 1199.5, 1199.0, -1.0, -0.5
Long 2 TF 1198.7, 1198.8, +0.5, +1.5
Long 1 TF 1197.0, +0.5
Total YM -6
Total NQ +8.25
Total TF +3.5
Short 1 YM 16415, -6
Long 2 TF 1102.0, 1102.1, +0.7, +1.7
Long 2 NQ 3617.25, 3617.5, +2.0, -0.25
Long 2 NQ 3616.25, 3617.5, +5.0, +2.0
Short 1 NQ 3625.25, -0.5
Long 2 TF 1199.5, 1199.0, -1.0, -0.5
Long 2 TF 1198.7, 1198.8, +0.5, +1.5
Long 1 TF 1197.0, +0.5
Total YM -6
Total NQ +8.25
Total TF +3.5
May 20 Trades & Journal
20140520
Long 3 TF 1104.3, 1103.8, 1103.0, -0.0, -1.4, -1.4
Long 2 TF 1101.4, 1101.4, +1.0, -1.0
Long 2 TF 1100.1, 1199.9, +1.3, -0.4
Long 4 TF 1197.4, 1198.1, 1197.0, 1197.0, +2.0, +1.0, +3.5, +2.7
Short 2 YM 16425, 16425, -6, -3
Long 2 TF 1196.1, 1195.6, +0.7, -0.7
Short 1 TF 1198.4, +1.7
Long 1 TF 1198.9, +1.5
Total YM -9
Total TF +10.5
Sometimes persistence is better than brilliance. Today, found myself counter trend trading too early into the TF's decline and had to dig myself out. The final was was the sweetener and risked going 'all-in' on 4. Was only able to find one TF short entry to play an in-trend position, but missed the NQ which afforded an excellent short at the Kilroy. Keep your focus across the board at such times. It's not divided, it's just broad enough to consider the positions of all four contracts, which can be done at a glance. Give up your losses quickly in your mind. While nursing the smarts of a loser, the winner is getting away.
Long 3 TF 1104.3, 1103.8, 1103.0, -0.0, -1.4, -1.4
Long 2 TF 1101.4, 1101.4, +1.0, -1.0
Long 2 TF 1100.1, 1199.9, +1.3, -0.4
Long 4 TF 1197.4, 1198.1, 1197.0, 1197.0, +2.0, +1.0, +3.5, +2.7
Short 2 YM 16425, 16425, -6, -3
Long 2 TF 1196.1, 1195.6, +0.7, -0.7
Short 1 TF 1198.4, +1.7
Long 1 TF 1198.9, +1.5
Total YM -9
Total TF +10.5
Sometimes persistence is better than brilliance. Today, found myself counter trend trading too early into the TF's decline and had to dig myself out. The final was was the sweetener and risked going 'all-in' on 4. Was only able to find one TF short entry to play an in-trend position, but missed the NQ which afforded an excellent short at the Kilroy. Keep your focus across the board at such times. It's not divided, it's just broad enough to consider the positions of all four contracts, which can be done at a glance. Give up your losses quickly in your mind. While nursing the smarts of a loser, the winner is getting away.
Mon May 19 Trades & Journal
20140519
Short 2 TF 1102.0, 1102.9, -1.4, -0.5
Short 2 TF 1104.9, 1104.9, 1105.2, -0.7, -0,7 -1.4
Short 3 TF 1105.8, 1105, 8, 1105.8, +2, 0. +2.0, +2.0
Long 2 TF 1006.9, 1006.9, +0.4, -0.4
Short 1 TF 1106.5, +1.2
Short 2 TF 1108.5, 1109.5, -1.4, -0.5
Long 2 TF 1109.9, 1109.9, +0.5, +0.8
Short 1 TF 1110.5, +0.8
Total TF +2.7
A pair of early entries cost me today, and mostly treading water thereafter. The Persistent Trend model is typically characterized by TF leadership, and when in a runaway mode, some emphasis should be shifted to the NQ and YM, as today offered good pullback opportunities in both with which to participate with the trend. I didn't see the YM and was late to the NQ as it got away from me. This was mostly all a lack of alertness, and not being ready for the intensity of the game. Resolved to be better focused tomorrow. Stay disciplined.
Short 2 TF 1102.0, 1102.9, -1.4, -0.5
Short 2 TF 1104.9, 1104.9, 1105.2, -0.7, -0,7 -1.4
Short 3 TF 1105.8, 1105, 8, 1105.8, +2, 0. +2.0, +2.0
Long 2 TF 1006.9, 1006.9, +0.4, -0.4
Short 1 TF 1106.5, +1.2
Short 2 TF 1108.5, 1109.5, -1.4, -0.5
Long 2 TF 1109.9, 1109.9, +0.5, +0.8
Short 1 TF 1110.5, +0.8
Total TF +2.7
A pair of early entries cost me today, and mostly treading water thereafter. The Persistent Trend model is typically characterized by TF leadership, and when in a runaway mode, some emphasis should be shifted to the NQ and YM, as today offered good pullback opportunities in both with which to participate with the trend. I didn't see the YM and was late to the NQ as it got away from me. This was mostly all a lack of alertness, and not being ready for the intensity of the game. Resolved to be better focused tomorrow. Stay disciplined.
Fri May 16 Trades & Journal
20140516
Long 1 NQ 3562.5, -2.0
Short 1 TF 90.9, +2.0
Long 2 NQ 3552.5, 3552.5, +2.0, +7.0
Short 1 TF 1190.9, +2.0
Total NQ +7.0
Total TF +4.0
A final trade entry at the TrendCheck would have put the total up, but Friday has it's own Trade Plan anomaly: close the shop and get away from the screen early....if possible. Wishing all a good weekend...
Long 1 NQ 3562.5, -2.0
Short 1 TF 90.9, +2.0
Long 2 NQ 3552.5, 3552.5, +2.0, +7.0
Short 1 TF 1190.9, +2.0
Total NQ +7.0
Total TF +4.0
A final trade entry at the TrendCheck would have put the total up, but Friday has it's own Trade Plan anomaly: close the shop and get away from the screen early....if possible. Wishing all a good weekend...
Thurs May 15 Trades & Journal
20140515
Long 1 1189.9, +2.0
Long 2 YM 16505, 16507, -5, -7
Long 2 NQ 3572.0, 3572.0, +2.0, -2.5
Long 2 TF 1182.5, 1182.7, -0.5, -0.7
Long 3 TF 1182.4, 1182.4, 1182.4, +1.5, +1.5, +1.0
Long 1 TF 1183.7, -1.0
Long 1 TF 1182.7, -0.7
Long 2 NQ 3556.5, 3556.5, +2.0, -2.0
Long 1 TF 1179.2, 1179.4, +1.0, +1.5
Long 1 TF 1182.0, +2.0
Long 1 TF 1181.9, -0.7,
Long 1 TF 1181.5, +2.0
Short 1 TF 1185.8, +1.7
Total YM -12
Total NQ -0.5
Total TF +10.6
At one point near the lows, I misread a signal and got in on what would have been too early for my trade plan, but the momentum indicator was reading go and the trade worked. So a couple points of today's net was more attributed to that than skill or plan adherence. One of the longs in the TF should have been taken in the NQ where the signal was complete. Under certain parameters, borrowing signals from one contract and trading in another is a great tool. But I readily admit that I got the wrong signal and got in the TF instead on pure luck for that trade. ...but that trade only. Big swings mean big profits but can also mean tough losses. If the method for trade entry models is valid, it should work in high volatility as well. But trade within your means and your experience. A day like today can just be watched sometimes. As those days too hot to handle can be waived in lieu of tomorrow's action instead. Stay focused.
Long 1 1189.9, +2.0
Long 2 YM 16505, 16507, -5, -7
Long 2 NQ 3572.0, 3572.0, +2.0, -2.5
Long 2 TF 1182.5, 1182.7, -0.5, -0.7
Long 3 TF 1182.4, 1182.4, 1182.4, +1.5, +1.5, +1.0
Long 1 TF 1183.7, -1.0
Long 1 TF 1182.7, -0.7
Long 2 NQ 3556.5, 3556.5, +2.0, -2.0
Long 1 TF 1179.2, 1179.4, +1.0, +1.5
Long 1 TF 1182.0, +2.0
Long 1 TF 1181.9, -0.7,
Long 1 TF 1181.5, +2.0
Short 1 TF 1185.8, +1.7
Total YM -12
Total NQ -0.5
Total TF +10.6
At one point near the lows, I misread a signal and got in on what would have been too early for my trade plan, but the momentum indicator was reading go and the trade worked. So a couple points of today's net was more attributed to that than skill or plan adherence. One of the longs in the TF should have been taken in the NQ where the signal was complete. Under certain parameters, borrowing signals from one contract and trading in another is a great tool. But I readily admit that I got the wrong signal and got in the TF instead on pure luck for that trade. ...but that trade only. Big swings mean big profits but can also mean tough losses. If the method for trade entry models is valid, it should work in high volatility as well. But trade within your means and your experience. A day like today can just be watched sometimes. As those days too hot to handle can be waived in lieu of tomorrow's action instead. Stay focused.
Wed May 14 Trade Summary
Trade Summary
20140514
Short 2 TF 1112.6, 1112.6, +0.7, +1.7
Long 2 YM 16629, 16629, +7, -7
Short 1 NQ 3609.0, -2.0
Short 1 NQ 3611.0, -2.0
Short 3 TF 1115.0, 1115.1, 1115.1, +1.7, +0.7, +0.7
Long 2 NQ 3603.75, 3602.75, -2.0, -1.0
Long 1 NQ 3601.0, -2.0
Long 1 TF 1106.1, +2.2
Total YM -0
Total NQ -9.0
Total TF +7.7
20140514
Short 2 TF 1112.6, 1112.6, +0.7, +1.7
Long 2 YM 16629, 16629, +7, -7
Short 1 NQ 3609.0, -2.0
Short 1 NQ 3611.0, -2.0
Short 3 TF 1115.0, 1115.1, 1115.1, +1.7, +0.7, +0.7
Long 2 NQ 3603.75, 3602.75, -2.0, -1.0
Long 1 NQ 3601.0, -2.0
Long 1 TF 1106.1, +2.2
Total YM -0
Total NQ -9.0
Total TF +7.7
Tues May 13 Trades & Journal
20140513
Long 2 YM 16677, 16677, +7, -7
Long 1 TF 1127.8, +1.2
Short 1 TF 1131.9, +1.3
Short 1 TF 1131.9, +0.5
Long 1 TF 1130.7, -0.7
Long 1 ES 1894.25, +2.0
Long 1 YM 16683, +10
Long 1 NQ 3616.5, +5.0
Long 2 TF 1126.6, 1126.6, +1.0, +2.0
Total ES +2.0
Total YM +10
Total NQ +5.0
Total TF +5.3
Two Persistent Trend Days seldom follow each other in a row, and so today offered what yesterday lacked, a lot of 1st frame swing opportunities. Without an exacting Trade Plan replete with entry models for such swings, playing this kind of whipsaw volatility would be impossible. Today, I even played the ORB breakout opp, although unlike yesterday, this one gave no more production that what it took to pay for the trade. ...but at least I was in on that game. Yesterday's TF ORB breakout opp was about the only sure way to participate in the TF bull explosion. So naturally, I get the religion back today.... doh! Stay disciplined. Report to work on time, and be ready for the tasks at hand. Be focused. Be the Plan.
Long 2 YM 16677, 16677, +7, -7
Long 1 TF 1127.8, +1.2
Short 1 TF 1131.9, +1.3
Short 1 TF 1131.9, +0.5
Long 1 TF 1130.7, -0.7
Long 1 ES 1894.25, +2.0
Long 1 YM 16683, +10
Long 1 NQ 3616.5, +5.0
Long 2 TF 1126.6, 1126.6, +1.0, +2.0
Total ES +2.0
Total YM +10
Total NQ +5.0
Total TF +5.3
Two Persistent Trend Days seldom follow each other in a row, and so today offered what yesterday lacked, a lot of 1st frame swing opportunities. Without an exacting Trade Plan replete with entry models for such swings, playing this kind of whipsaw volatility would be impossible. Today, I even played the ORB breakout opp, although unlike yesterday, this one gave no more production that what it took to pay for the trade. ...but at least I was in on that game. Yesterday's TF ORB breakout opp was about the only sure way to participate in the TF bull explosion. So naturally, I get the religion back today.... doh! Stay disciplined. Report to work on time, and be ready for the tasks at hand. Be focused. Be the Plan.
Mon May 12 Trades & Journal
20140512
Short 2 TF 1120.2, 1120.5, -0.5, +1.0
Short 1 YM 16640, +10
Short 2 TF 1122.9, 1122.8, +0.7, -0.7
Short 2 TF 1123.5, 1124.3, -1.4, -0.5
Short 3 TF 1125.3, 1125.2, 1125.6, -0.7, -0.6, -0.4
Short 2 TF 1129.8, 1129.8, -0.7, -0.7
Short 4 TF 1130.5, 1130.5, 1130.5, 1130.6, -0.3, -0.3, -0.3, -0.3
Short 4 TF 1130.2, 1130.2, 1130.2 1130.2, +1.5, +1.5, +2.0, -0.6
Long 2 NQ 3594.75, 3594.75, +2.0, -0.0
Long 1 YM 16623, +15
PM trades:
Long 1 TF 1126.9, -0.1
Long 1 TF 1126.9, +1.2
Total NQ +2.0
Total YM +25
Total TF -0.2
Big gap-ups are hard to buy. Even when fading the gap is a known death trap most of the time, contrary to many a day trader's trade plan, that awareness doesn't make entering a trade as gap-n-go any easier. But today, I had little excuse because the TF's ORB Pennant was clearly in my trade plan as a buy entry, and would have positioned me to have at least captured part of the explosive trend that I only fought to fade most of the way up, and was unable to find buy entries for with its total lack of 1st frame pullback action. Thus, I was left with losses because I failed the plan. And nothing was better positioned for a Persistent Trend Day Up than the TF contract today, especially with all the bearish divergence it has displayed in the daily frame while unable to spark a true broad market sell-off. If it can't start a trend down, it has nowhere to go but up. Nothing stays the same for long... The early breakout trades take total focus and willingness to risk the probabilities that they work more often than they fail, and often work best when least desirable or believable. Get serious at the open. Put your game face on. Stay disciplined.
Addendum:
The 1st Chance Texaco setup here in the PM at least got me healthy, but approached it with so little confidence that was unable to hold it as potential runner. Persistent Trend Day Models are always a challenge, and having missed the Opening Breakout model, this day not offering so much more to work with, as is typical of this day model. Stay focused.
Short 2 TF 1120.2, 1120.5, -0.5, +1.0
Short 1 YM 16640, +10
Short 2 TF 1122.9, 1122.8, +0.7, -0.7
Short 2 TF 1123.5, 1124.3, -1.4, -0.5
Short 3 TF 1125.3, 1125.2, 1125.6, -0.7, -0.6, -0.4
Short 2 TF 1129.8, 1129.8, -0.7, -0.7
Short 4 TF 1130.5, 1130.5, 1130.5, 1130.6, -0.3, -0.3, -0.3, -0.3
Short 4 TF 1130.2, 1130.2, 1130.2 1130.2, +1.5, +1.5, +2.0, -0.6
Long 2 NQ 3594.75, 3594.75, +2.0, -0.0
Long 1 YM 16623, +15
PM trades:
Long 1 TF 1126.9, -0.1
Long 1 TF 1126.9, +1.2
Total NQ +2.0
Total YM +25
Total TF -0.2
Big gap-ups are hard to buy. Even when fading the gap is a known death trap most of the time, contrary to many a day trader's trade plan, that awareness doesn't make entering a trade as gap-n-go any easier. But today, I had little excuse because the TF's ORB Pennant was clearly in my trade plan as a buy entry, and would have positioned me to have at least captured part of the explosive trend that I only fought to fade most of the way up, and was unable to find buy entries for with its total lack of 1st frame pullback action. Thus, I was left with losses because I failed the plan. And nothing was better positioned for a Persistent Trend Day Up than the TF contract today, especially with all the bearish divergence it has displayed in the daily frame while unable to spark a true broad market sell-off. If it can't start a trend down, it has nowhere to go but up. Nothing stays the same for long... The early breakout trades take total focus and willingness to risk the probabilities that they work more often than they fail, and often work best when least desirable or believable. Get serious at the open. Put your game face on. Stay disciplined.
Addendum:
The 1st Chance Texaco setup here in the PM at least got me healthy, but approached it with so little confidence that was unable to hold it as potential runner. Persistent Trend Day Models are always a challenge, and having missed the Opening Breakout model, this day not offering so much more to work with, as is typical of this day model. Stay focused.
Fri May 9 Trade Summary
Trade Summary
20140509
Short 2 TF 1191.3, 1191.2, -0.5, -0.5
Short 2 TF 1192.8, 1192.8, +1.0, +2.0
Short 1 TF 93.0, -0.5
Short 2 NQ 3528.5, 3528.5, +2.0, +6.5
Short 1 TF 1193.5, +2.0
Short 1 NQ 3530.5, +6.0
Short 1 TF 1195.7, -0.4
Short 1 YM 16502, -2
Long 2 NQ 3533.25, 3533.25, -2.0, -2.0
Long 2 TF 1192.5, 1192.5, +1.0, +2.0
Total NQ 10.5
Total YM -2
Total TF +6.1
20140509
Short 2 TF 1191.3, 1191.2, -0.5, -0.5
Short 2 TF 1192.8, 1192.8, +1.0, +2.0
Short 1 TF 93.0, -0.5
Short 2 NQ 3528.5, 3528.5, +2.0, +6.5
Short 1 TF 1193.5, +2.0
Short 1 NQ 3530.5, +6.0
Short 1 TF 1195.7, -0.4
Short 1 YM 16502, -2
Long 2 NQ 3533.25, 3533.25, -2.0, -2.0
Long 2 TF 1192.5, 1192.5, +1.0, +2.0
Total NQ 10.5
Total YM -2
Total TF +6.1
Thur May 8 Trades & Journal
20140508
Long 1 TF 1107.5, -0.2
Long 1 TF 1107.4, +2.5
Short 2 TF 1110.4, 1110.8, -0.5, +0.7
Short 2 TF 1110.2, 1110.2, +1.0, +1.8
Short 1 TF 1110.8, +0.6
Long 2 YM 16533, 16533, -7, -7
Short 2 TF 1115.1, 1114.9, +0.7, -0.4
Short 2 NQ 3667.0, 3667.0, -2.25, -2.25
Short 2 TF 1116.4, 1116.4, +0.7, +2.5
Long 1 TF 1110.6, -0.3
Long 1 TF 1110.4, +2.0
Total YM -14
Total NQ -4.5
Total TF +11.1
Although the counter-trend fades showed good production at selected levels, the best trade of the day was from the opening in the NQ. I was late to the screen and could only watch it push through the breakout level of a variation of the 3-Bar ORB. As I write this summary post-1st frame, it's still going as the signs of a Persistent Trend Day Up continue to appear. You can't get in a trade if you're not in front of the screen... Get on the job...the Trader has work to do....
Long 1 TF 1107.5, -0.2
Long 1 TF 1107.4, +2.5
Short 2 TF 1110.4, 1110.8, -0.5, +0.7
Short 2 TF 1110.2, 1110.2, +1.0, +1.8
Short 1 TF 1110.8, +0.6
Long 2 YM 16533, 16533, -7, -7
Short 2 TF 1115.1, 1114.9, +0.7, -0.4
Short 2 NQ 3667.0, 3667.0, -2.25, -2.25
Short 2 TF 1116.4, 1116.4, +0.7, +2.5
Long 1 TF 1110.6, -0.3
Long 1 TF 1110.4, +2.0
Total YM -14
Total NQ -4.5
Total TF +11.1
Although the counter-trend fades showed good production at selected levels, the best trade of the day was from the opening in the NQ. I was late to the screen and could only watch it push through the breakout level of a variation of the 3-Bar ORB. As I write this summary post-1st frame, it's still going as the signs of a Persistent Trend Day Up continue to appear. You can't get in a trade if you're not in front of the screen... Get on the job...the Trader has work to do....
Wed May 7 Trade Summary
20140507
Long 2 YM 16394, 16392, +7, +12
Long 1 TF 1102.9, +2.0
Long 1 TF 1102.5, -0.7
Long 2 TF 1100.4, 1101.0, +2.0, +0.7
Long 1 TF 1100.2, -0.4
Long 2 TF 1100.4, 1100.5, +0.7, -0.7
Long 1 TF 1194.6, -0.7
Long 2 TF 1193.7, 1193.8, -0.4, -0.4
Long 2 YM 16337, 16337, -5, -5
Short 1 YM 16338, +20
Short 1 YM 16346, -5
Short 2 TF 1194.5, 1194.7, -0.5, -0.5
Short 2 TF 1194.6, 1194.9, -1.0, +1.0
Long 1 TF 1195.7, +3.0
Total YM +24
Total TF +4.1
Long 2 YM 16394, 16392, +7, +12
Long 1 TF 1102.9, +2.0
Long 1 TF 1102.5, -0.7
Long 2 TF 1100.4, 1101.0, +2.0, +0.7
Long 1 TF 1100.2, -0.4
Long 2 TF 1100.4, 1100.5, +0.7, -0.7
Long 1 TF 1194.6, -0.7
Long 2 TF 1193.7, 1193.8, -0.4, -0.4
Long 2 YM 16337, 16337, -5, -5
Short 1 YM 16338, +20
Short 1 YM 16346, -5
Short 2 TF 1194.5, 1194.7, -0.5, -0.5
Short 2 TF 1194.6, 1194.9, -1.0, +1.0
Long 1 TF 1195.7, +3.0
Total YM +24
Total TF +4.1
Tues May 6 Trades & Journal
20140506
Long 1 TF 1117.9, -0.9
Long 1 YM 16408, -10
Short 2 TF 1116.6, 1116.7, -0.5, -0.5
Short 2 NQ 3589.25, 3589.25, +2.0, +5.0
Short 2 TF 1116.6, 1116.6, +0.7, -0.7
Short 1 TF 11117.0, -0.7
Short 2 YM 16395, 16395, +7, -2
Short 1 YM 16399, -3
Short 2 YM 16405, 16406, +40, +7
Long 2 YM 16365, 16364, +10, +7
Total NQ +7.0
Total YM +56
Total TF -2.6
A frame without TF profits is like a day without sunshine.... You have to stay very alert. Today's initial bullish 3-Bar ORB play turned quickly into a bearish Matched Highs ORB short, but I was caught with eyes in headlights and could't get my hat turned back around to get short where I was getting stp'd out. That was all the difference in at least getting to b/e in the TF today, and netting some better profit for the total. Re-live your mistakes. Then rehearse what you should have done. It's like a new dance move. Be prepared when the music changes like that again. When you only trade the 1st frame, there's very little excuse not to stay focused....
Long 1 TF 1117.9, -0.9
Long 1 YM 16408, -10
Short 2 TF 1116.6, 1116.7, -0.5, -0.5
Short 2 NQ 3589.25, 3589.25, +2.0, +5.0
Short 2 TF 1116.6, 1116.6, +0.7, -0.7
Short 1 TF 11117.0, -0.7
Short 2 YM 16395, 16395, +7, -2
Short 1 YM 16399, -3
Short 2 YM 16405, 16406, +40, +7
Long 2 YM 16365, 16364, +10, +7
Total NQ +7.0
Total YM +56
Total TF -2.6
A frame without TF profits is like a day without sunshine.... You have to stay very alert. Today's initial bullish 3-Bar ORB play turned quickly into a bearish Matched Highs ORB short, but I was caught with eyes in headlights and could't get my hat turned back around to get short where I was getting stp'd out. That was all the difference in at least getting to b/e in the TF today, and netting some better profit for the total. Re-live your mistakes. Then rehearse what you should have done. It's like a new dance move. Be prepared when the music changes like that again. When you only trade the 1st frame, there's very little excuse not to stay focused....
Mon May 5 Trades & Journal
20140505
Long 1 TF 1110.1, +2.5
Short 2 NQ 3562.25, 3562.5, +4.0, +2.0
Short 1 TF 1115.1, -0.2
Short 1 NQ 3570.75, -1.0
short 1 TF 1119.0, +1.5
Short 1 TF 1121.4, +1.2
Total NQ +5.0
Total TF +5.0
The guidance of a Trade Plan means certain criteria need be met before entering trades. Why have a plan if you're going to then ignore a trade's entry model requirements? Trade the Plan, Be the Plan. Know no other.
Long 1 TF 1110.1, +2.5
Short 2 NQ 3562.25, 3562.5, +4.0, +2.0
Short 1 TF 1115.1, -0.2
Short 1 NQ 3570.75, -1.0
short 1 TF 1119.0, +1.5
Short 1 TF 1121.4, +1.2
Total NQ +5.0
Total TF +5.0
The guidance of a Trade Plan means certain criteria need be met before entering trades. Why have a plan if you're going to then ignore a trade's entry model requirements? Trade the Plan, Be the Plan. Know no other.
Fri May 2 Trades & Journal
20140502
Long 2 TF 1125.5, 1125.5, +1.0, +2.0
Long 2 NQ 3585.0, 3585.0, +2.0, -2.0
Long 1 NQ 3582.75, -2.0
Long 1 TF 1125.3, +2.0
Total NQ -2.0
Total TF +5.0
The ORB is a singularity, nuclear in its implication. Even the subtlest of setup bars can be a characteristic gesture of the greater trend. So it is with such ValhallaFutures concepts as the 3-Bar ORB and the ORB Matched High/Low. Today's ORB play was an immediate payoff, and targets were based on the better volatility we've been experiencing, plus have a default target of +4.0 for the initial OCO entry that was out of the way for the ensuing action. Am always eager to quit trading early on Friday's when/if a minimum quota is achieved. Nothing wrong with being done with trading in the first 30 minutes... and a good weekend to all....
Long 2 TF 1125.5, 1125.5, +1.0, +2.0
Long 2 NQ 3585.0, 3585.0, +2.0, -2.0
Long 1 NQ 3582.75, -2.0
Long 1 TF 1125.3, +2.0
Total NQ -2.0
Total TF +5.0
The ORB is a singularity, nuclear in its implication. Even the subtlest of setup bars can be a characteristic gesture of the greater trend. So it is with such ValhallaFutures concepts as the 3-Bar ORB and the ORB Matched High/Low. Today's ORB play was an immediate payoff, and targets were based on the better volatility we've been experiencing, plus have a default target of +4.0 for the initial OCO entry that was out of the way for the ensuing action. Am always eager to quit trading early on Friday's when/if a minimum quota is achieved. Nothing wrong with being done with trading in the first 30 minutes... and a good weekend to all....
Thurs May 1 Trades & Journal
Trade Summary
20140501
Short 1 NQ 3586.75, +6.0
Short 1 TF 1120.7, +2.0
Long 1 YM 16506, -7
Long 1 TF 1113.4, -0.0
Long 1 TF 1112.0, -0.0
Long 2 TF 1113.3, 1113.1, -0.6, -0.6
Long 2 TF 1113.3, 1113.3, -0.2, -0.2
Long 2 TF 1114.0, 1114.0, +2.0, -0.0
Long 1 TF 1114.1, +1.0
Long 1 TF 1112.4, -0.7
Long 1 TF 1111.1, -0.6
Long 1 TF 1111.2, -0.3
Short 1 TF 1112.8, -0.6
Short 2 ES 1875.5, 1876.0, -1.5, -.75
Short 2 TF 1116.2, 1116.1, -0.6, -0.5
Short 2 TF 1118.2, 1118.6, -0.7, -0.4
Short 2 TF 1122.5, 1122.5, -0.5, -0.5
Short 3 TF 11230. 1123.0, 1122.8, +2.0, +1.5, +1.2
Short 1 TF 1129.5, -0.1
PM Trades
Long 2 TF 1118.7, 1118.6, -0.5, -0.5
Long 2 TF 1117.3, 1117.3, +0.7, -0.4
Total YM -7
Total ES -2.25
Total NQ +5.0
Total TF +1.9
Volatility is an attraction, like moth to flame. Today, the longs taken at the lows were well within Trade Plan, but the volatility kicked me out many times. Then I fell to a fatal flaw I should know better.... that of fading the 2nd trend after the lows were in, as sort of a revenge to participate having missed the Low-of-Day that I had tried so hard to position for. The final set of shorts at the Kilroy saved the day from a net loss, but is easy to see my poor trading in the number of entries taken. The desire to participate when the swings are so volatile can be like a fever that influences subsequent trading. Once the ice is broken, then one bad trade can follow the other. What's bothering you most along the way is the profit you're missing, not the losses you take. And meanwhile, the losses start to pile up. Stay calm. Assess the situation. You never really 'miss' the market's events. There's a better opportunity in a few minutes and a different outlook to go with it.
20140501
Short 1 NQ 3586.75, +6.0
Short 1 TF 1120.7, +2.0
Long 1 YM 16506, -7
Long 1 TF 1113.4, -0.0
Long 1 TF 1112.0, -0.0
Long 2 TF 1113.3, 1113.1, -0.6, -0.6
Long 2 TF 1113.3, 1113.3, -0.2, -0.2
Long 2 TF 1114.0, 1114.0, +2.0, -0.0
Long 1 TF 1114.1, +1.0
Long 1 TF 1112.4, -0.7
Long 1 TF 1111.1, -0.6
Long 1 TF 1111.2, -0.3
Short 1 TF 1112.8, -0.6
Short 2 ES 1875.5, 1876.0, -1.5, -.75
Short 2 TF 1116.2, 1116.1, -0.6, -0.5
Short 2 TF 1118.2, 1118.6, -0.7, -0.4
Short 2 TF 1122.5, 1122.5, -0.5, -0.5
Short 3 TF 11230. 1123.0, 1122.8, +2.0, +1.5, +1.2
Short 1 TF 1129.5, -0.1
PM Trades
Long 2 TF 1118.7, 1118.6, -0.5, -0.5
Long 2 TF 1117.3, 1117.3, +0.7, -0.4
Total YM -7
Total ES -2.25
Total NQ +5.0
Total TF +1.9
Volatility is an attraction, like moth to flame. Today, the longs taken at the lows were well within Trade Plan, but the volatility kicked me out many times. Then I fell to a fatal flaw I should know better.... that of fading the 2nd trend after the lows were in, as sort of a revenge to participate having missed the Low-of-Day that I had tried so hard to position for. The final set of shorts at the Kilroy saved the day from a net loss, but is easy to see my poor trading in the number of entries taken. The desire to participate when the swings are so volatile can be like a fever that influences subsequent trading. Once the ice is broken, then one bad trade can follow the other. What's bothering you most along the way is the profit you're missing, not the losses you take. And meanwhile, the losses start to pile up. Stay calm. Assess the situation. You never really 'miss' the market's events. There's a better opportunity in a few minutes and a different outlook to go with it.
Wed Apr 30 Trades & Journal
20140430
Long 3 TF 1107.1, 1107.1, 1107.2, +1.0, -0.5, -0.7
Long 1 TF 1106.2, +4.0
Short 1 TF 1105.6, +1.5
Total TF +5.3
Very thin in the TF today, and that made for some whippy action, a bit like yesterday. But the trade models were true nonetheless, and that's what's important. After a low is in solidly, it's still tempting to fade the 2nd trend direction back in the direction of the 1st, as the 2nd trend seems to have a psychological pull...but a lot less so
if you traded the 1st trend successfully. Will return in the PM to watch for possible pre- and post- FOMC entry models. Stay focused.
Long 3 TF 1107.1, 1107.1, 1107.2, +1.0, -0.5, -0.7
Long 1 TF 1106.2, +4.0
Short 1 TF 1105.6, +1.5
Total TF +5.3
Very thin in the TF today, and that made for some whippy action, a bit like yesterday. But the trade models were true nonetheless, and that's what's important. After a low is in solidly, it's still tempting to fade the 2nd trend direction back in the direction of the 1st, as the 2nd trend seems to have a psychological pull...but a lot less so
if you traded the 1st trend successfully. Will return in the PM to watch for possible pre- and post- FOMC entry models. Stay focused.
Tues Apr 29 Trades & Journal
Trade Summary
20140429
Long 2 TF 1120.4, 1120.3, +1.0, +2.0
Short 1 YM 16471, -3
Short 1 YM 16471, -3
Long 2 NQ 3544.25, 3544.25, +2.0, -0.0
Long 1 TF 1120.8, -0.5
Long 2 TF 1118.8, 1118.8, -0.5, -0.5
Long 2 TF 1118.7, 1118.7, +1.0, -0.0
Long 1 TF 1118.6, -0.6
Long 2 NQ 3539.0, 3539.0, +2.0, +6.0
Long 2 TF 1115.2, 1115.7, +1.0, -0.5
Short 1 TF 1122.2, +1.5
Short 1 TF 1121.5, +1.7
Total YM -6
Total NQ +10.0
Total TF +5.6
Today was a good practice session for conflicting trade signals in the early going, and by the time the frame was done, sore necks were everywhere from all the whiplash. And I got so absorbed at one point in finding likely low with those conflicting signals, that when it came, I actually missed it, and had to be woken up from my brain lock by a sharp student who knew what to do.... doh. Clear your head periodically, especially when the action is gets bewildering and you are being stp'd out of trades more than usual. Step back and look at the bigger picture. Assess the potential models from both viewpoints. Be ready to strike when what was unlikely just moments before has actually just come to fruition. Stay disciplined.
20140429
Long 2 TF 1120.4, 1120.3, +1.0, +2.0
Short 1 YM 16471, -3
Short 1 YM 16471, -3
Long 2 NQ 3544.25, 3544.25, +2.0, -0.0
Long 1 TF 1120.8, -0.5
Long 2 TF 1118.8, 1118.8, -0.5, -0.5
Long 2 TF 1118.7, 1118.7, +1.0, -0.0
Long 1 TF 1118.6, -0.6
Long 2 NQ 3539.0, 3539.0, +2.0, +6.0
Long 2 TF 1115.2, 1115.7, +1.0, -0.5
Short 1 TF 1122.2, +1.5
Short 1 TF 1121.5, +1.7
Total YM -6
Total NQ +10.0
Total TF +5.6
Today was a good practice session for conflicting trade signals in the early going, and by the time the frame was done, sore necks were everywhere from all the whiplash. And I got so absorbed at one point in finding likely low with those conflicting signals, that when it came, I actually missed it, and had to be woken up from my brain lock by a sharp student who knew what to do.... doh. Clear your head periodically, especially when the action is gets bewildering and you are being stp'd out of trades more than usual. Step back and look at the bigger picture. Assess the potential models from both viewpoints. Be ready to strike when what was unlikely just moments before has actually just come to fruition. Stay disciplined.
Mon Apr 28 Trades & Journal
Trade Summary
20140428
Long 2 TF 1115.9, 1115.9, -0.5, -0.5
Long 2 TF 1115.8, 1115.8, +1.5, +3.0
Short 1 YM 16387, -2
Short 1 YM 16389, -5
Short 1 YM 16393, +15
Long 2 TF 1126.2, 1126.4, +2.0, +1.0
Total YM +8
Total TF +6.5
Displayed a bit better heart than Friday at least, regarding holding the winners, that is. But failed to take the plan size at the low when conditions were peak for taking units instead of just 2. ....and was promptly punished by having to watch the TF take a 10pt excursion without me. Take a moment to go over your Trade Plan each day before the the action begins. Settle into to it. Be the Plan.
20140428
Long 2 TF 1115.9, 1115.9, -0.5, -0.5
Long 2 TF 1115.8, 1115.8, +1.5, +3.0
Short 1 YM 16387, -2
Short 1 YM 16389, -5
Short 1 YM 16393, +15
Long 2 TF 1126.2, 1126.4, +2.0, +1.0
Total YM +8
Total TF +6.5
Displayed a bit better heart than Friday at least, regarding holding the winners, that is. But failed to take the plan size at the low when conditions were peak for taking units instead of just 2. ....and was promptly punished by having to watch the TF take a 10pt excursion without me. Take a moment to go over your Trade Plan each day before the the action begins. Settle into to it. Be the Plan.
Fri Apr 25 Trades & Journal
20140425
Short 1 YM 16379, +17
Short 1 YM 16354, -2
Short 2 YM 16356, 16357, +12, +7
Long 2 TF 1128.7, 1128.7, +1.0, +1.6
Short 1 TF 1133.5, +1.2
Long 2 NQ 3524.0, 3524.0, -1.0, -1.0
Long 2 NQ 3525.5, 3525.5, -0.5, -1.0
Total NQ -3.5
Total YM +34
Total TF +3.8
One of the key traits a trader needs is 'heart'. ...the ability to stick with a position while it pauses and retests both your entry price and your patience... ...the ability to ignore other factors like what the other contracts might or might not be doing and just let the position work on its own once entered. ....the heart to take multiple contracts when the appropriate model appears... etc. Today, I had no heart for it, and jumped out at the slightest provocation, especially the YM where I was trading so small in the first place that there was no reason not to have risked holding those early shorts with multiple contracts longer. Some of this can come from just being tired. ...some from misreading the character of price changes, or 'tape action', as they say. ...and worst of all, some of this can come from a fear of being wrong. You have a decent week, and you're more afraid of breaking the streak than taking and managing the trades as their entry models appear. Get some rest... enjoy the weekend... return refreshed and focused to trade. ....
Short 1 YM 16379, +17
Short 1 YM 16354, -2
Short 2 YM 16356, 16357, +12, +7
Long 2 TF 1128.7, 1128.7, +1.0, +1.6
Short 1 TF 1133.5, +1.2
Long 2 NQ 3524.0, 3524.0, -1.0, -1.0
Long 2 NQ 3525.5, 3525.5, -0.5, -1.0
Total NQ -3.5
Total YM +34
Total TF +3.8
One of the key traits a trader needs is 'heart'. ...the ability to stick with a position while it pauses and retests both your entry price and your patience... ...the ability to ignore other factors like what the other contracts might or might not be doing and just let the position work on its own once entered. ....the heart to take multiple contracts when the appropriate model appears... etc. Today, I had no heart for it, and jumped out at the slightest provocation, especially the YM where I was trading so small in the first place that there was no reason not to have risked holding those early shorts with multiple contracts longer. Some of this can come from just being tired. ...some from misreading the character of price changes, or 'tape action', as they say. ...and worst of all, some of this can come from a fear of being wrong. You have a decent week, and you're more afraid of breaking the streak than taking and managing the trades as their entry models appear. Get some rest... enjoy the weekend... return refreshed and focused to trade. ....
Thurs Apr 24 Trades & Journal
20140424
Long 2 NQ 3582.5, 3582.5, -2.0, -2.0
Long 1 NQ 3581.0, -2.0
Long 1 ES 1870.0, -1.5
Long 2 NQ 3572.25, 3572.25,+2.0, -2.0
Long 3 NQ 3559.0, 3559.0, 3559.5, +2.0, -2.0, -2.0
Long 3 TF 1131.9, 1131.9, 1131.9, +2.0, +2.0, +4.0
Short 1 TF 1140.7, +2.0
Total NQ -8.0
Total ES -1.5
Total TF +10.0
If you're just patient, eventually things click and your trade models will appear. Today, the steep plummet took me by surprise and although oversold gauges were all flashing buy, could not find the turn.... until the TF gave us a last final climax. The technique there when all else for a turn is in place is to place buy-stps above the fresh low that occurs when the rest of the model has already signaled the crash is done, then the sudden lift just takes you with it, like catching a wave on the Cali coast. Stay focused. Let the price patterns come to you. Forcing trades in a fast market will almost always fail.
Long 2 NQ 3582.5, 3582.5, -2.0, -2.0
Long 1 NQ 3581.0, -2.0
Long 1 ES 1870.0, -1.5
Long 2 NQ 3572.25, 3572.25,+2.0, -2.0
Long 3 NQ 3559.0, 3559.0, 3559.5, +2.0, -2.0, -2.0
Long 3 TF 1131.9, 1131.9, 1131.9, +2.0, +2.0, +4.0
Short 1 TF 1140.7, +2.0
Total NQ -8.0
Total ES -1.5
Total TF +10.0
If you're just patient, eventually things click and your trade models will appear. Today, the steep plummet took me by surprise and although oversold gauges were all flashing buy, could not find the turn.... until the TF gave us a last final climax. The technique there when all else for a turn is in place is to place buy-stps above the fresh low that occurs when the rest of the model has already signaled the crash is done, then the sudden lift just takes you with it, like catching a wave on the Cali coast. Stay focused. Let the price patterns come to you. Forcing trades in a fast market will almost always fail.
Wed Apr 23 Trade Summary
20140423
Short 2 TF 1147.0, 1147.0, +0.4, -0.4
Short 1 TF 1150.3, -0.5
Short 2 TF 1150.7, 1150.8, +1.0, +0.7
Short 1 TF 1150.5, +1.2
Long 1 YM 14432, -6
Long 1 TF 1146.7, -0.5
Long 2 YM 16428, 16428, +7, -3
Long 1 NQ 3555.25, -1.0
Long 2 YM 16415, 16413, +15, +7
Short 1 TF 1145.7, -0.1
Short 1 TF 1148.1, -0.3
Short 2 TF 1148.6, 1148.5, +0.5, -02
Short 1 TF 1152.3, 1152.3, +0.5, +1.0
Long 2 TF 1147.2, 1146.9, +0.1, -0.3
Total NQ -1.0
Total YM +20
Total TF +3.1
Short 2 TF 1147.0, 1147.0, +0.4, -0.4
Short 1 TF 1150.3, -0.5
Short 2 TF 1150.7, 1150.8, +1.0, +0.7
Short 1 TF 1150.5, +1.2
Long 1 YM 14432, -6
Long 1 TF 1146.7, -0.5
Long 2 YM 16428, 16428, +7, -3
Long 1 NQ 3555.25, -1.0
Long 2 YM 16415, 16413, +15, +7
Short 1 TF 1145.7, -0.1
Short 1 TF 1148.1, -0.3
Short 2 TF 1148.6, 1148.5, +0.5, -02
Short 1 TF 1152.3, 1152.3, +0.5, +1.0
Long 2 TF 1147.2, 1146.9, +0.1, -0.3
Total NQ -1.0
Total YM +20
Total TF +3.1
Tues Apr 22 Trades & Journal
20140422
Long 1 YM 16393, +17
Short 2 TF 1141.3, 1141.7, -1.0, -0.5
Short 1 TF 1142.8, -0.5
Short 2 NQ 3558.25, 3558.25, +2.0, -1.25
Short 2 TF 1144.9, 1144.9, +0.7, +2.0
Short 1 TF 1145.8, -0.2
Short 1 TF 1147.6, -0.6
Short 1 YM 16448, -7
Short 2 TF 1148.5, 1148.5, +0.7, -0.2
Short 2 NQ 3576.75, 3576.75, +2.0, +4.0
Short 1 TF 1149.2, +1.4
Long 3 TF 1146.6, 1146.1, 1145.9, -0.0, +0.5, +1.5
Total YM +10
Total NQ +6.75
Total TF +3.8
Persistent Trend Days often give you the subtlest of early signs, and this one was no exception. ...and yet I ignored the first, and was late taking the 1stChanceTexaco entry for the 2nd. That I managed to make a profit today was sheer persistence of my own at key levels, but the best trades of the day were either missed altogether, or not well handled. Since the Persistent Trend model is a different section of the book of 'rich environments', it requires a distinct shift in attitude and habit. ..and therein lies the rub... that switching out of the more typical behavior patterns of the more typical 1st Frame action is, in and until itself, a temporary suspension of what has become more ingrained behavior, that in order to trade the entire spectrum of models competently, one must act without habit altogether, fresh each day, embracing--in the words of S. Kotler--the novelty, the complexity and the unpredictability associated with true flow. True flow can never become habitual... if for no other reason because the market is never really the same from day to day, despite the repetition of broad, day model attributes. And therein is the paradox of trading. Stay fresh. Stay loose. But stay focused; and operate from the strict discipline of the Trade Plan and all the behavior governors associated with it.
Long 1 YM 16393, +17
Short 2 TF 1141.3, 1141.7, -1.0, -0.5
Short 1 TF 1142.8, -0.5
Short 2 NQ 3558.25, 3558.25, +2.0, -1.25
Short 2 TF 1144.9, 1144.9, +0.7, +2.0
Short 1 TF 1145.8, -0.2
Short 1 TF 1147.6, -0.6
Short 1 YM 16448, -7
Short 2 TF 1148.5, 1148.5, +0.7, -0.2
Short 2 NQ 3576.75, 3576.75, +2.0, +4.0
Short 1 TF 1149.2, +1.4
Long 3 TF 1146.6, 1146.1, 1145.9, -0.0, +0.5, +1.5
Total YM +10
Total NQ +6.75
Total TF +3.8
Persistent Trend Days often give you the subtlest of early signs, and this one was no exception. ...and yet I ignored the first, and was late taking the 1stChanceTexaco entry for the 2nd. That I managed to make a profit today was sheer persistence of my own at key levels, but the best trades of the day were either missed altogether, or not well handled. Since the Persistent Trend model is a different section of the book of 'rich environments', it requires a distinct shift in attitude and habit. ..and therein lies the rub... that switching out of the more typical behavior patterns of the more typical 1st Frame action is, in and until itself, a temporary suspension of what has become more ingrained behavior, that in order to trade the entire spectrum of models competently, one must act without habit altogether, fresh each day, embracing--in the words of S. Kotler--the novelty, the complexity and the unpredictability associated with true flow. True flow can never become habitual... if for no other reason because the market is never really the same from day to day, despite the repetition of broad, day model attributes. And therein is the paradox of trading. Stay fresh. Stay loose. But stay focused; and operate from the strict discipline of the Trade Plan and all the behavior governors associated with it.
Mon Apr 21 Trades & Journal
20140421
Long 1 NQ 3530.5, -2.0
Short 1 NQ 3527.25, 3627.5, -2.0, -1.25
Long 2 TF 1134.4, 1134.6, +1.7, +0.7
Long 1 TF 1137.2, -0.5
Short 1 YM 16381, -2
Short 1 YM 16381, -5
Short 1 TF 1138.4, -0.1
Short 2 TF 1139.3, 1139.0, +2.0, +0.7
Long 1 NQ 3535.25, -1.5
Long 1 TF 1136.4, -0.5
Long 1 YM 16372, -5
Long 1 NQ 3534.25, -1.5
Long 1 NQ 3529.5, -1.5
Long 1 YM 16370, -7
Long 2 TF 1133.3, 1133.3, +1.0, -0.4
Long 2 TF 1131.1, 1131.2, -0.5, -0.5
Long 2 TF 1130.3, 1130.3, +1.0, -0.6
Long 1 ES 1857.75, +2.0
Long 1 YM 16340, -0
Short 1 TF 1132.9, +1.2
Short 1 TF 1132.5, -0.4
Short 1 TF 1136.0, -0.3
Short 1 TF 1136.1, -0.3
Total NQ -9.75
Total ES +2.0
Total YM -19
Total TF +4.2
Sometimes trading is like stepping into ocean at the beach on a day with warm water, when otherwise all would seem just fine.....only to be stung by a thousand jellyfish. And I know when the Trade Plan signal models are struggling to find the turn when I end up with a winning trade in the ES.... Some days are better for trading than others.... or perhaps to be more fair, some days would have done better in some other Trade Plan than the one I use to satisfaction on most other days.... but losses were still smaller than gains, so no reason to be anything but positive going forward into the week. Stay focused on the trade management aspect of the Plan. Limit your losses and be sure to remember to limit your trades. With a plan of no more than about 10 trades per frame, I let myself exceed that substantially today, mostly just throwing money at turns that would not be easily defined... Be back to tomorrow, fresh and ready....
Long 1 NQ 3530.5, -2.0
Short 1 NQ 3527.25, 3627.5, -2.0, -1.25
Long 2 TF 1134.4, 1134.6, +1.7, +0.7
Long 1 TF 1137.2, -0.5
Short 1 YM 16381, -2
Short 1 YM 16381, -5
Short 1 TF 1138.4, -0.1
Short 2 TF 1139.3, 1139.0, +2.0, +0.7
Long 1 NQ 3535.25, -1.5
Long 1 TF 1136.4, -0.5
Long 1 YM 16372, -5
Long 1 NQ 3534.25, -1.5
Long 1 NQ 3529.5, -1.5
Long 1 YM 16370, -7
Long 2 TF 1133.3, 1133.3, +1.0, -0.4
Long 2 TF 1131.1, 1131.2, -0.5, -0.5
Long 2 TF 1130.3, 1130.3, +1.0, -0.6
Long 1 ES 1857.75, +2.0
Long 1 YM 16340, -0
Short 1 TF 1132.9, +1.2
Short 1 TF 1132.5, -0.4
Short 1 TF 1136.0, -0.3
Short 1 TF 1136.1, -0.3
Total NQ -9.75
Total ES +2.0
Total YM -19
Total TF +4.2
Sometimes trading is like stepping into ocean at the beach on a day with warm water, when otherwise all would seem just fine.....only to be stung by a thousand jellyfish. And I know when the Trade Plan signal models are struggling to find the turn when I end up with a winning trade in the ES.... Some days are better for trading than others.... or perhaps to be more fair, some days would have done better in some other Trade Plan than the one I use to satisfaction on most other days.... but losses were still smaller than gains, so no reason to be anything but positive going forward into the week. Stay focused on the trade management aspect of the Plan. Limit your losses and be sure to remember to limit your trades. With a plan of no more than about 10 trades per frame, I let myself exceed that substantially today, mostly just throwing money at turns that would not be easily defined... Be back to tomorrow, fresh and ready....
Thur Apr 17 Trades & Journal
20140417
Short 2 TF 1127.6, 1127.8, -0.5, +0.5
Short 1 TF 1127.4, +1.7
Long 2 TF 1125.1, 1124.9, -0.0, -0.0
Short 1 TF 1123.8, +1.3
Long 2 YM 16305, 16301 +20, +10
Short 1 TF 1126.5, +2.0
Short 1 TF 1127.4, -0.4
Long 1 TF 1127.8, +1.2
Short 2 TF 1136.1 1134.6, +2.0, +0.5
Total YM +30
Total TF +8.3
Sometimes just leaving the default stp-loss levels in place when a position is entered too early is the only way survive a losing position. Today that saved me as I could see where I should have gotten in just moments after being filled as the position immediately went again me, but held well at a critical support level. At such junctures, just getting back to b/e is often the best strategy. In this case, I had plenty of time to pick up an additional contract at the better level and make something on the trade anyway, but I balked and opted to just back out at b/e. The pre-News YM purchase was text book today, as per plan, when the Philly Fed hit with further premium at the announcement. And today, I took 2 breakout plays and had no trouble taking them, as I have struggled to do so against trepidation so much in previous days. Neither were big winners, and both taken as mere 1-lots, but at least I was in the game. The only thing I can say that might help to explain my sudden ability to pull those triggers was that I simply forgot how much angst I feel towards them, and acted automatically as if I had never been suffering trepidation at all. Go figure. Want to wish all a Blessed Passover, Good Friday and Happy Easter....
Short 2 TF 1127.6, 1127.8, -0.5, +0.5
Short 1 TF 1127.4, +1.7
Long 2 TF 1125.1, 1124.9, -0.0, -0.0
Short 1 TF 1123.8, +1.3
Long 2 YM 16305, 16301 +20, +10
Short 1 TF 1126.5, +2.0
Short 1 TF 1127.4, -0.4
Long 1 TF 1127.8, +1.2
Short 2 TF 1136.1 1134.6, +2.0, +0.5
Total YM +30
Total TF +8.3
Sometimes just leaving the default stp-loss levels in place when a position is entered too early is the only way survive a losing position. Today that saved me as I could see where I should have gotten in just moments after being filled as the position immediately went again me, but held well at a critical support level. At such junctures, just getting back to b/e is often the best strategy. In this case, I had plenty of time to pick up an additional contract at the better level and make something on the trade anyway, but I balked and opted to just back out at b/e. The pre-News YM purchase was text book today, as per plan, when the Philly Fed hit with further premium at the announcement. And today, I took 2 breakout plays and had no trouble taking them, as I have struggled to do so against trepidation so much in previous days. Neither were big winners, and both taken as mere 1-lots, but at least I was in the game. The only thing I can say that might help to explain my sudden ability to pull those triggers was that I simply forgot how much angst I feel towards them, and acted automatically as if I had never been suffering trepidation at all. Go figure. Want to wish all a Blessed Passover, Good Friday and Happy Easter....
Wed Apr 16 Trades & Journal
Trade Summary
20140416
Short 1 NQ 3506.25, +4.0
Short 2 NQ 3505.25, 3505.0, +2.0, +6.0
Long 2 NQ 3502.5, 3502.5, +2.0, +8.0
Total NQ +22.0
Sometimes a coffee break can cost you a lot of money. Just around 11am when a lesson session due to start, the called for Trade Model finally appeared in the TF, but I was away from the screen. The NQ, however, did offer a number of winning trades, so sticking to the plan was at least that good. Stay focused. You can't get every trade, and life goes on when trades are missed. Just try your best to take those that are part of your Trade Plan when they appear in the frame their description belongs to.
20140416
Short 1 NQ 3506.25, +4.0
Short 2 NQ 3505.25, 3505.0, +2.0, +6.0
Long 2 NQ 3502.5, 3502.5, +2.0, +8.0
Total NQ +22.0
Sometimes a coffee break can cost you a lot of money. Just around 11am when a lesson session due to start, the called for Trade Model finally appeared in the TF, but I was away from the screen. The NQ, however, did offer a number of winning trades, so sticking to the plan was at least that good. Stay focused. You can't get every trade, and life goes on when trades are missed. Just try your best to take those that are part of your Trade Plan when they appear in the frame their description belongs to.
Tues Apr 15 Trades & Journal
20140415
Short 1 TF 1118.6, +1.5
Short 1 YM 16177, -7
Short 2 YM 16185, 16187, -3, -5
Short 1 TF 1120.9, -0.4
Short 2 TF 1121.3, 1121.1, +0.7, +1.0
Long 1 TF 1117.3, -0.5
Long 2 NQ 3479.75, 3479.5, -1.0, +2.0
Long 2 TF 1113.7, 1113.7, -0.7, -0.7
Long 5 NQ 3465.0, 3465.0, 3465.0, 3465.0, 3466.5, +2.0, +4.0, +5.0, -1.0, +3.0
Long 2 TF 1102.5, 1102.5, +1.0, +3.0
Long 1 TF 1103.3, -0.7
Long 1 NQ 3438.5, -2.0
Long 1 TF 1198.6, +4.0
Total YM -15
Total NQ +12.0
Total TF +8.2
Big swings can be bigger profits, and even a default target of +4 can leave a lot on the table on a day like this, but I showed no patience at the top at all. One large profit at the end came slightly out of Plan, when the full extension of the TF move down failed to materialize. Cheating the Trade Plan when models are incomplete....and then being rewarded for it, will almost always have its comeuppance if other such 'intuition' type leaks get through the iron laws of the Trade Plan. In this case, I rationalized the position with a tight stop-loss just beyond tick bar support, on a retest. I only deserved half the day I actually had... and just to show me the value of true patience, the whole Trade Entry Model appeared some 10 minutes later and went twice the distance than the trade I actually took. Stick with your plan. The best rewards come from consistency, not the occasional lucky strike.
Short 1 TF 1118.6, +1.5
Short 1 YM 16177, -7
Short 2 YM 16185, 16187, -3, -5
Short 1 TF 1120.9, -0.4
Short 2 TF 1121.3, 1121.1, +0.7, +1.0
Long 1 TF 1117.3, -0.5
Long 2 NQ 3479.75, 3479.5, -1.0, +2.0
Long 2 TF 1113.7, 1113.7, -0.7, -0.7
Long 5 NQ 3465.0, 3465.0, 3465.0, 3465.0, 3466.5, +2.0, +4.0, +5.0, -1.0, +3.0
Long 2 TF 1102.5, 1102.5, +1.0, +3.0
Long 1 TF 1103.3, -0.7
Long 1 NQ 3438.5, -2.0
Long 1 TF 1198.6, +4.0
Total YM -15
Total NQ +12.0
Total TF +8.2
Big swings can be bigger profits, and even a default target of +4 can leave a lot on the table on a day like this, but I showed no patience at the top at all. One large profit at the end came slightly out of Plan, when the full extension of the TF move down failed to materialize. Cheating the Trade Plan when models are incomplete....and then being rewarded for it, will almost always have its comeuppance if other such 'intuition' type leaks get through the iron laws of the Trade Plan. In this case, I rationalized the position with a tight stop-loss just beyond tick bar support, on a retest. I only deserved half the day I actually had... and just to show me the value of true patience, the whole Trade Entry Model appeared some 10 minutes later and went twice the distance than the trade I actually took. Stick with your plan. The best rewards come from consistency, not the occasional lucky strike.
Mon Apr 14 Trades & Journal
20140414
Long 1 TF 1115.2, -0.5
Short 1 NQ 3451.75, +5.0
Short 2 TF 1112.9, 1113.0, +2.0, +1.5
Short 1 TF 1115.1, -0.5,
Short 3 TF 1116.1, 1116.1, 1116.2, +1.0, +0.7, +1.3
Short 1 TF 1116.2, -0.9
Short 4 TF 1117.0, 1117.0, 1117.1, 1117.4, -0.7, -0.0, -0.2, -0.2
Short 3 TF 1122.6, 1122.7 1122.8, -0.7, +0.7, -0.5
Short 4 TF 1123.5, 1123.6, 1123.3, 1123.4, , +0.7, -0.0, +1.0, +1.2
Long 1 TF 1121.3, -0.5
Long 1 TF 1121.1, -0.5
Long 1 TF 1120.8, -0.5
Long 1 TF 1120.1, -0.5
Long 1 TF 1120.1, -0.2
Total NQ +5.0
Total TF +3.7
The degree to which a particular improvement in trading was difficult during attempts at mastery might be the degree to which it will be difficult to recover from the success of it once initially achieved. ...at least so it seemed today with a successful inflection breakdown trigger entered in both the NQ and TF on the first leg down. Why difficult to recover from....? Because the short, once entered, needed to be managed for the buy signals that followed on its heals so quickly as to make the trade a true Turn-n-Reverse. Without having taken that breakdown short, I would have been well prepared to buy the NQ near this morning's Low-of-Day at a Trade Entry Model I am already well practiced in and unlikely to have missed. So if I've now conquered my anxiety and bad habit of balking at that particular formation of breakout trigger and am ready to execute it more consistently, it now seems that I must not forget that the other more established Trade Entry Model might appear on occasion potentially so close upon its heels of the newer one as to inhibit the execution of the already-well-rehearsed Model back in the other direction. But it gets worse... Having made a profit on a breakout play I have balked at so many times in the past, I was left with the glow of glory and even the residual trend prejudice associated with it to such a degree that over eagerness to get back into that same trend stuck with me on the way back up, well into a place where I should have recognized the conditions of WorkDone for the bear trend at the LOD, and shifted to Trade Models appropriate for the day's budding 2nd Trend bull. Today I was not ready. Don't let the profits from the previous trend inflict you with prejudice as to favoritism of that trend past the signals of its completion. Let the feelings of glory be a warning, an alarm bell in your head. To paraphrase a word of wisdom, glory comes just before the fall.
Long 1 TF 1115.2, -0.5
Short 1 NQ 3451.75, +5.0
Short 2 TF 1112.9, 1113.0, +2.0, +1.5
Short 1 TF 1115.1, -0.5,
Short 3 TF 1116.1, 1116.1, 1116.2, +1.0, +0.7, +1.3
Short 1 TF 1116.2, -0.9
Short 4 TF 1117.0, 1117.0, 1117.1, 1117.4, -0.7, -0.0, -0.2, -0.2
Short 3 TF 1122.6, 1122.7 1122.8, -0.7, +0.7, -0.5
Short 4 TF 1123.5, 1123.6, 1123.3, 1123.4, , +0.7, -0.0, +1.0, +1.2
Long 1 TF 1121.3, -0.5
Long 1 TF 1121.1, -0.5
Long 1 TF 1120.8, -0.5
Long 1 TF 1120.1, -0.5
Long 1 TF 1120.1, -0.2
Total NQ +5.0
Total TF +3.7
The degree to which a particular improvement in trading was difficult during attempts at mastery might be the degree to which it will be difficult to recover from the success of it once initially achieved. ...at least so it seemed today with a successful inflection breakdown trigger entered in both the NQ and TF on the first leg down. Why difficult to recover from....? Because the short, once entered, needed to be managed for the buy signals that followed on its heals so quickly as to make the trade a true Turn-n-Reverse. Without having taken that breakdown short, I would have been well prepared to buy the NQ near this morning's Low-of-Day at a Trade Entry Model I am already well practiced in and unlikely to have missed. So if I've now conquered my anxiety and bad habit of balking at that particular formation of breakout trigger and am ready to execute it more consistently, it now seems that I must not forget that the other more established Trade Entry Model might appear on occasion potentially so close upon its heels of the newer one as to inhibit the execution of the already-well-rehearsed Model back in the other direction. But it gets worse... Having made a profit on a breakout play I have balked at so many times in the past, I was left with the glow of glory and even the residual trend prejudice associated with it to such a degree that over eagerness to get back into that same trend stuck with me on the way back up, well into a place where I should have recognized the conditions of WorkDone for the bear trend at the LOD, and shifted to Trade Models appropriate for the day's budding 2nd Trend bull. Today I was not ready. Don't let the profits from the previous trend inflict you with prejudice as to favoritism of that trend past the signals of its completion. Let the feelings of glory be a warning, an alarm bell in your head. To paraphrase a word of wisdom, glory comes just before the fall.
Fri Apr 11 Trades & Journal
Trade Summary
20140411
Short 1 TF 1112.2, -0.7
Long 1 TF 1114.4, -0.0
Short 2 NQ 3482.75, 3482.0, +5.0, +2.0
Long 2 YM 16018, 16014, -8, +7
Long 3 NQ 3663.5, 3663.5, 3664.5, -2.0, +2.0, +2.0
Long 3 TF 1115.9, 1115.9, 1115.7, -0.7, +0.7, +1.0
Long 2 NQ 3648.75, 3639.5, +5.0, +2.0
Long 1 YM 16989, -7
Long 1 TF 1113.3, +4.0
Total YM -8
Total NQ +16.0
Total TF +4.3
The change in character of the price action from day to day can be disturbing when trying to hold onto trades. Down in the lower frames of tick charts where positions are initially taken, a whiplash action can push one to the point of exiting trades too soon, or even getting stp'd out just on volatility whips alone. But the market will fulfill its appointed wave structure regardless of how sloppy the turns and climaxes are. Some stp-loss distance changes might be considered, but more importantly, if the trade model was valid, just stay with the position, regardless of how whippy the action seems to be. Let the pattern and the model play itself out. Things will eventually settle down as you yourself will. That is the opposite of what I did on an early long from an ORB Breakout Model entry this morning. I let the whippy action push me out of the best trade having been discouraged by the whiplash action of a poor one. Stay focused. If the trade if valid, give it the prescribed stp-loss risk it deserves. Take a couple of breaths, and just see it through. ...and a good weekend to all....
20140411
Short 1 TF 1112.2, -0.7
Long 1 TF 1114.4, -0.0
Short 2 NQ 3482.75, 3482.0, +5.0, +2.0
Long 2 YM 16018, 16014, -8, +7
Long 3 NQ 3663.5, 3663.5, 3664.5, -2.0, +2.0, +2.0
Long 3 TF 1115.9, 1115.9, 1115.7, -0.7, +0.7, +1.0
Long 2 NQ 3648.75, 3639.5, +5.0, +2.0
Long 1 YM 16989, -7
Long 1 TF 1113.3, +4.0
Total YM -8
Total NQ +16.0
Total TF +4.3
The change in character of the price action from day to day can be disturbing when trying to hold onto trades. Down in the lower frames of tick charts where positions are initially taken, a whiplash action can push one to the point of exiting trades too soon, or even getting stp'd out just on volatility whips alone. But the market will fulfill its appointed wave structure regardless of how sloppy the turns and climaxes are. Some stp-loss distance changes might be considered, but more importantly, if the trade model was valid, just stay with the position, regardless of how whippy the action seems to be. Let the pattern and the model play itself out. Things will eventually settle down as you yourself will. That is the opposite of what I did on an early long from an ORB Breakout Model entry this morning. I let the whippy action push me out of the best trade having been discouraged by the whiplash action of a poor one. Stay focused. If the trade if valid, give it the prescribed stp-loss risk it deserves. Take a couple of breaths, and just see it through. ...and a good weekend to all....
Thurs Apr 10 Trades & Journal
20140410
Short 1 TF 1153.3, +2.0
Short 2 TF 1153.7, 1153.9, +2.0, +0.5
Long 1 TF 1147.6, +1.2
Long 1 TF 1146.8, +4.0
Total TF +9.7
Early swings were textbook for our methods, as almost never find such turns without some stop-outs. One exit actually seemed to have our name on it. But one can never get cocky, or ever let a winning streak lead you to the ugly illusion you can know where the market is going. Most of the money that is lost in the markets is lost by traders who suffer from that delusion. Don't suffer from such delusions. Stay focused, trade the Plan, and accept your stp-outs as part of the business of trading.
Short 1 TF 1153.3, +2.0
Short 2 TF 1153.7, 1153.9, +2.0, +0.5
Long 1 TF 1147.6, +1.2
Long 1 TF 1146.8, +4.0
Total TF +9.7
Early swings were textbook for our methods, as almost never find such turns without some stop-outs. One exit actually seemed to have our name on it. But one can never get cocky, or ever let a winning streak lead you to the ugly illusion you can know where the market is going. Most of the money that is lost in the markets is lost by traders who suffer from that delusion. Don't suffer from such delusions. Stay focused, trade the Plan, and accept your stp-outs as part of the business of trading.
Wed Apr 9 Trade Summary
20140409
Short 1 TF 1144.7, +1.2
Short 1 TF 1146.3, -0.0
Short 1 TF 1146.2, +1.7
Long 2 YM 16221, 16221, -6, -3
Long 1 TF 1143.3, +1.2
Long 1 TF 1143.0, -0.6
Long 2 YM 16203, 16203, +10, +20
Total YM +21
Total TF +3.5
Short 1 TF 1144.7, +1.2
Short 1 TF 1146.3, -0.0
Short 1 TF 1146.2, +1.7
Long 2 YM 16221, 16221, -6, -3
Long 1 TF 1143.3, +1.2
Long 1 TF 1143.0, -0.6
Long 2 YM 16203, 16203, +10, +20
Total YM +21
Total TF +3.5
Tues Apr 8 Trades & Journal
20140408
Long 1 YM 16150, -7
Long 1 YM 16142, -7
Long 2 YM 16129, +10, +25
Long 1 TF 1132.4, -0.5
Long 2 TF 1132.4, 1132.2, +1.0, +2.0
Short 1 NQ 3515.5, +4.0
Long 1 TF 1131.9. -0.7
Long 3 TF 1128.6, 1128.1, 1127.6, -1.4, -0.7, -0.5
Long 4 TF 1127.5, 1127.6, 1127.4, +1.0, +0.7, -1.0, -0.7
Long 3 TF 1127.0, 1127.1, 1127.3, +1.0, +2.0, +4.0
Short 1 TF 1133.0, -0.4
Short 1 TF 1134.5, +1.5
Total NQ +4.0
Total YM +21
Total TF +7.3
Previous two days were Persistent Trend Days Down in the TF, a fairly rare bird... and a 3rd is even rarer, so with that as background it was important to get aggressive at the Globex Low, but even that didn't prepare you for the extra volatility. But if your stp's are hit while the entry model is still valid, then re-entry just as the initial position, only more likely to succeed. Sometimes trading is trend of mental persistence. And today, I correctly managed to trail at least one important position, unlike yesterday, where my errors were exiting too soon. However, two short signals were missed to capture some of the early plunge. The first didn't meat an entry target, but was close enough to have risked at least 1 contract. The 2nd was a bit more subtle, called a Double Pump Substitute Sequent Inflection. I make note of that one for further consideration in my trade plan. But on days of lower volatility than this, that one, because it's a breakout play, often leads only to chop. Stay focused. Be resilient. Follow the Trade Plan.
Long 1 YM 16150, -7
Long 1 YM 16142, -7
Long 2 YM 16129, +10, +25
Long 1 TF 1132.4, -0.5
Long 2 TF 1132.4, 1132.2, +1.0, +2.0
Short 1 NQ 3515.5, +4.0
Long 1 TF 1131.9. -0.7
Long 3 TF 1128.6, 1128.1, 1127.6, -1.4, -0.7, -0.5
Long 4 TF 1127.5, 1127.6, 1127.4, +1.0, +0.7, -1.0, -0.7
Long 3 TF 1127.0, 1127.1, 1127.3, +1.0, +2.0, +4.0
Short 1 TF 1133.0, -0.4
Short 1 TF 1134.5, +1.5
Total NQ +4.0
Total YM +21
Total TF +7.3
Previous two days were Persistent Trend Days Down in the TF, a fairly rare bird... and a 3rd is even rarer, so with that as background it was important to get aggressive at the Globex Low, but even that didn't prepare you for the extra volatility. But if your stp's are hit while the entry model is still valid, then re-entry just as the initial position, only more likely to succeed. Sometimes trading is trend of mental persistence. And today, I correctly managed to trail at least one important position, unlike yesterday, where my errors were exiting too soon. However, two short signals were missed to capture some of the early plunge. The first didn't meat an entry target, but was close enough to have risked at least 1 contract. The 2nd was a bit more subtle, called a Double Pump Substitute Sequent Inflection. I make note of that one for further consideration in my trade plan. But on days of lower volatility than this, that one, because it's a breakout play, often leads only to chop. Stay focused. Be resilient. Follow the Trade Plan.
Mon Apr 7 Trades & Journal
20140407
Short 1 TF 1139.4, +1.7
Short 1 TF 1139.4, -0.4
short 2 TF 1141.8, 1142.3, -0.0, -1.4
Short 4 TF 1145.5 1145.5, 1145.2, 1145.4, +1.0, +2.0, +0.5, +0.7
Long 2 TF 1139.90, 1139.8, +2.0, +0.7
Total TF +6.8
When the swings are this big, there is a need to just take a deep breath before entering on a signal. The size of the thrusts can be surprising. But this cut's both ways. The bigger error today was not getting in short too early, but getting out too soon, once the correct support / resistance areas were identified. Stay focused. There are most days like this no doubt ahead.
Short 1 TF 1139.4, +1.7
Short 1 TF 1139.4, -0.4
short 2 TF 1141.8, 1142.3, -0.0, -1.4
Short 4 TF 1145.5 1145.5, 1145.2, 1145.4, +1.0, +2.0, +0.5, +0.7
Long 2 TF 1139.90, 1139.8, +2.0, +0.7
Total TF +6.8
When the swings are this big, there is a need to just take a deep breath before entering on a signal. The size of the thrusts can be surprising. But this cut's both ways. The bigger error today was not getting in short too early, but getting out too soon, once the correct support / resistance areas were identified. Stay focused. There are most days like this no doubt ahead.
Fri Apr 4 Trades & Summary
20140404
Long 2 TF 1178.4, 1178.4, -0.5, -0.5
Long 3 TF 1177.0, 1177.0, 1177.4, +1.0, +1.0, +1.3
Long 2 YM 16500, 16498, +20, +7
Short 2 NQ 3622.25, 3622.0, -2.0, -2.0
Short 2 TF 1183.2, 1183.1, -0.7, -0.7
Short 3 TF 1183.4, 1183.4, 1183.4, +0.7, +0.7, +1.7
Long 1 TF 1178.7, +2.0
Total YM +27
Total NQ -4.0
Total TF +6.0
Added volatility can make positioning more difficult, to say nothing of the extra trepidation that comes with wondering if something bigger is going on behind the scenes that you might be unaware of and should fear. There is seldom anything bigger going on behind the scenes that you are unaware of, although the talking heads on the financial news programs will be scurrying around the AP wire looking to justify their jobs. Just trade what's in front of you as it appears at the right edge of your video screen. And if the extra volatility stops your positions out, but the Trade Entry Model is actually just the same as it was, then the trade is just as valid re entered as it was stp'd out. Get back in the game. Stay focused on the Plan. Everything you do as a trader is in it. The Trade Plan gives the Trader the voice. There is no other to listen to. Be the Trader. Be the Trade Plan. The two are inseparable.
Long 2 TF 1178.4, 1178.4, -0.5, -0.5
Long 3 TF 1177.0, 1177.0, 1177.4, +1.0, +1.0, +1.3
Long 2 YM 16500, 16498, +20, +7
Short 2 NQ 3622.25, 3622.0, -2.0, -2.0
Short 2 TF 1183.2, 1183.1, -0.7, -0.7
Short 3 TF 1183.4, 1183.4, 1183.4, +0.7, +0.7, +1.7
Long 1 TF 1178.7, +2.0
Total YM +27
Total NQ -4.0
Total TF +6.0
Added volatility can make positioning more difficult, to say nothing of the extra trepidation that comes with wondering if something bigger is going on behind the scenes that you might be unaware of and should fear. There is seldom anything bigger going on behind the scenes that you are unaware of, although the talking heads on the financial news programs will be scurrying around the AP wire looking to justify their jobs. Just trade what's in front of you as it appears at the right edge of your video screen. And if the extra volatility stops your positions out, but the Trade Entry Model is actually just the same as it was, then the trade is just as valid re entered as it was stp'd out. Get back in the game. Stay focused on the Plan. Everything you do as a trader is in it. The Trade Plan gives the Trader the voice. There is no other to listen to. Be the Trader. Be the Trade Plan. The two are inseparable.
Thur Apr 3 Trades & Journal
20140403
Short 1 YM 16526, +14
Short 1 NQ 3667.25, +3.5
Short 1 YM 16515, -7
Short 1 YM 16523, +12
Long 2 TF 1186.7, 1186.8, +0.5, -0.5
Short 1 TF 1186.3, -0.3
Long 1 TF 1185.5, -0.5
Long 2 TF 1183.7, 1183.5, -0.7, -0.5
Long 3 TF 1183.3, 1183.3, 1183.3, +0.7, -0.5, -0.5
Long 1 TF 1178.4, -0.5
PM Trades:
Short 1 NQ 3631.5, -1.0
Short 2 TF 1179.0, 1179.4, +0.4, +2.0
Total YM +19
Total NQ +2.5
Total TF -0.4
With most of the opportunity coming in just one steep trending move, any mistake means that move has been missed. Although I did find some short entries early on, the short at the top of the TF decline was stp-out. Then a critical short re entry opp caught me by surprise as a stp-n-rev trigger which I was not ready to position for. On days that challenge, keep your losses small. A Persistent Trend Day signal usually offers at least one or two good reactions that serve as entry opportunities to the prevailing trend. And if you managed to keep 1st Frame losses small, you'll have remaining firepower to look for that opportunity later in the day. Stay focused.
PM Addendum: Persistent Trend Days usually have at least one return to dynamic support/resistance level before returning to the prevailing trend. Although this one far from textbook perfect, did allow me to clean up AM losses. As a learning exercise to the day, will rehearse the Double Pump Breakdown trigger missed on the way down during the AM plummet, and consider weakening or eliminating the filter of oversold momentum that kept me out of that trade. Even with a little room left on the momentum altimeter, a good deal of price distance can still be accomplished. Believe being more aggressive with that particular breakout play would improve my p&l and relieve much of the mental strain from missing entirely such beautiful impulse moves as that witnessed this morning.
Short 1 YM 16526, +14
Short 1 NQ 3667.25, +3.5
Short 1 YM 16515, -7
Short 1 YM 16523, +12
Long 2 TF 1186.7, 1186.8, +0.5, -0.5
Short 1 TF 1186.3, -0.3
Long 1 TF 1185.5, -0.5
Long 2 TF 1183.7, 1183.5, -0.7, -0.5
Long 3 TF 1183.3, 1183.3, 1183.3, +0.7, -0.5, -0.5
Long 1 TF 1178.4, -0.5
PM Trades:
Short 1 NQ 3631.5, -1.0
Short 2 TF 1179.0, 1179.4, +0.4, +2.0
Total YM +19
Total NQ +2.5
Total TF -0.4
With most of the opportunity coming in just one steep trending move, any mistake means that move has been missed. Although I did find some short entries early on, the short at the top of the TF decline was stp-out. Then a critical short re entry opp caught me by surprise as a stp-n-rev trigger which I was not ready to position for. On days that challenge, keep your losses small. A Persistent Trend Day signal usually offers at least one or two good reactions that serve as entry opportunities to the prevailing trend. And if you managed to keep 1st Frame losses small, you'll have remaining firepower to look for that opportunity later in the day. Stay focused.
PM Addendum: Persistent Trend Days usually have at least one return to dynamic support/resistance level before returning to the prevailing trend. Although this one far from textbook perfect, did allow me to clean up AM losses. As a learning exercise to the day, will rehearse the Double Pump Breakdown trigger missed on the way down during the AM plummet, and consider weakening or eliminating the filter of oversold momentum that kept me out of that trade. Even with a little room left on the momentum altimeter, a good deal of price distance can still be accomplished. Believe being more aggressive with that particular breakout play would improve my p&l and relieve much of the mental strain from missing entirely such beautiful impulse moves as that witnessed this morning.
Wed Apr 2 Trades & Journal
20140402
Short 1 TF 1186.6, +1.2
Short 1 TF 1186.6, +1.0
Short 3 YM 16459, 16463, 16463, -7, +7, +5
Short 1 ES 1879.50, +2.0
Long 1 NQ 3652.0, -0
Long 2 NQ 3646.0, 3646.0, +2.0, -1.0
Long 1 NQ 3636.5, +4.0
Short 1 TF 1186.7, -0.1
Total YM +5
Total NQ +5.0
Total ES +2.0
Total TF +2.1
Some days are better for trading than others.... or should I more fairly say that some days have price/pattern action that betters matches one's Trade Entry Models than other days. But even in this comparative sloppy action, sticking to the Trade Plan did find a few kernels of corn at decent entry levels. Have a plan. Trade that plan only. Accept the outcome.
Short 1 TF 1186.6, +1.2
Short 1 TF 1186.6, +1.0
Short 3 YM 16459, 16463, 16463, -7, +7, +5
Short 1 ES 1879.50, +2.0
Long 1 NQ 3652.0, -0
Long 2 NQ 3646.0, 3646.0, +2.0, -1.0
Long 1 NQ 3636.5, +4.0
Short 1 TF 1186.7, -0.1
Total YM +5
Total NQ +5.0
Total ES +2.0
Total TF +2.1
Some days are better for trading than others.... or should I more fairly say that some days have price/pattern action that betters matches one's Trade Entry Models than other days. But even in this comparative sloppy action, sticking to the Trade Plan did find a few kernels of corn at decent entry levels. Have a plan. Trade that plan only. Accept the outcome.
Tues Apr 1 Trades & Journal
20140401
Short 2 NQ 3628.5, 3628.0, +2.0, -0.75
Short 1 YM 16464, -7
Short 1 NQ 3629.25, -2.0
Short 1 NQ 3630.75, -1.0
Short 2 YM 16468, 16468, -6, -6
Short 2 TF 1179.8, 1179.8, +0.7, -0.2
Long 4 YM 16468, 16464, 16462, 16466 -0, +7, -3, +7
Long 2 YM 16459, 16460, -3, +7
Long 2 TF 1178.5, 1177.7, -0, -0.5
Long 2 TF 1176.7, 1176.6, -0.2, +0.7
Long 1 TF 1176.7, +1.1
Long 1 TF 1176.1, -0.5
Long 4 TF 1175.7, 1176.0, 1175.7, 1175.6, -0.3, -0.5, +0.7, -0.3
Long 1 TF 1175.5, -0.5
Long 2 TF 1175.2, 1175.3, +1.6, +0.5
Long 1 TF 1174.4, -0
Long 1 YM 16418, +10
Long 1 TF 1174.2, +1.0
Total NQ -1.75
Total YM +6
Total TF +3.3
Sometimes price and pattern action fit trade entry models, and sometimes, not so much. Today was hard work, with very little production at the turns.... at least the ones I was in. Longs at the Noon Hour Time Marker helped a bit, but keeping up this kind of focus straight through from 9:30 to Noon is wearing, to be sure. Glad to know the market doesn't usually need that much of the day to produce sufficient trading volatility on most days of the month. Tomorrow's another day. Stay disciplined.
Short 2 NQ 3628.5, 3628.0, +2.0, -0.75
Short 1 YM 16464, -7
Short 1 NQ 3629.25, -2.0
Short 1 NQ 3630.75, -1.0
Short 2 YM 16468, 16468, -6, -6
Short 2 TF 1179.8, 1179.8, +0.7, -0.2
Long 4 YM 16468, 16464, 16462, 16466 -0, +7, -3, +7
Long 2 YM 16459, 16460, -3, +7
Long 2 TF 1178.5, 1177.7, -0, -0.5
Long 2 TF 1176.7, 1176.6, -0.2, +0.7
Long 1 TF 1176.7, +1.1
Long 1 TF 1176.1, -0.5
Long 4 TF 1175.7, 1176.0, 1175.7, 1175.6, -0.3, -0.5, +0.7, -0.3
Long 1 TF 1175.5, -0.5
Long 2 TF 1175.2, 1175.3, +1.6, +0.5
Long 1 TF 1174.4, -0
Long 1 YM 16418, +10
Long 1 TF 1174.2, +1.0
Total NQ -1.75
Total YM +6
Total TF +3.3
Sometimes price and pattern action fit trade entry models, and sometimes, not so much. Today was hard work, with very little production at the turns.... at least the ones I was in. Longs at the Noon Hour Time Marker helped a bit, but keeping up this kind of focus straight through from 9:30 to Noon is wearing, to be sure. Glad to know the market doesn't usually need that much of the day to produce sufficient trading volatility on most days of the month. Tomorrow's another day. Stay disciplined.
Mon Mar 31 Trades & Journal
20140331
Long 1 TF 1150.9, -0.2
Long 2 TF 1150.6, 1151.2, +1.4, +0.7
Short 1 TF 1154.4, -0.5,
Short 1 TF 1155.7, -0.5
Short 2 TF 1156.6, 1156.4, -0.2, +1.0
Short 2 TF 1158.1, 1158.7, -1.0, +0.7
Short 1 TF 1160.0, -0.1
Short 1 TF 1159.9, +2.0
Long 2 NQ 3601.25, 3600.25, -2.0, -1.0
Long 2 TF 1157.5, 1157.5, +0.5, +1.3
Long 1 TF 1161.0, +1.4
Total NQ -3.0
Total TF +6.5
Stuck well to plan today. Even caught the inflection breakout, albeit a 1-lot. Biggest fault was too quick an exit on early TF long. Got spooked by proximity of all-session low with anticipation that it would still be taken out, so took a safe exit, and then tried to short again too soon. Be wary of trend prejudice. One quiet thought in your head can be like catching a cold in your trading. Eventually, you shake it off, but not before coughing up a few losing trades.... Stay focused.
Long 1 TF 1150.9, -0.2
Long 2 TF 1150.6, 1151.2, +1.4, +0.7
Short 1 TF 1154.4, -0.5,
Short 1 TF 1155.7, -0.5
Short 2 TF 1156.6, 1156.4, -0.2, +1.0
Short 2 TF 1158.1, 1158.7, -1.0, +0.7
Short 1 TF 1160.0, -0.1
Short 1 TF 1159.9, +2.0
Long 2 NQ 3601.25, 3600.25, -2.0, -1.0
Long 2 TF 1157.5, 1157.5, +0.5, +1.3
Long 1 TF 1161.0, +1.4
Total NQ -3.0
Total TF +6.5
Stuck well to plan today. Even caught the inflection breakout, albeit a 1-lot. Biggest fault was too quick an exit on early TF long. Got spooked by proximity of all-session low with anticipation that it would still be taken out, so took a safe exit, and then tried to short again too soon. Be wary of trend prejudice. One quiet thought in your head can be like catching a cold in your trading. Eventually, you shake it off, but not before coughing up a few losing trades.... Stay focused.
Fri Mar 28 Trades & Journal
20140327
Long 2 TF 1153.4, 1153.3, -0.7, -0.5
Long 2 TF 1152.6, 1152.6, +1.0, +2.0
Long 1 NQ 3586.75, +4.5
Short 2 TF 1158.5, 1158.4, +0.7, +1.0
Total NQ +4.5
Total TF +3.5
Traded according to plan today. Although I did not take the Inflection Breakout, the TrueTrend Momentum Indicator was a justifying filter to avoid it. Was not in front of the screen yesterday, but having prepared myself mentally to that particular breakout model so much these last few days prior, can only wonder if I would have taken it yesterday having noticed it today in review of the charts as yesterday's big 1st Frame play. It will show up next week no doubt again. I'll be there. Stay focused. ...and a good weekend to all....
Long 2 TF 1153.4, 1153.3, -0.7, -0.5
Long 2 TF 1152.6, 1152.6, +1.0, +2.0
Long 1 NQ 3586.75, +4.5
Short 2 TF 1158.5, 1158.4, +0.7, +1.0
Total NQ +4.5
Total TF +3.5
Traded according to plan today. Although I did not take the Inflection Breakout, the TrueTrend Momentum Indicator was a justifying filter to avoid it. Was not in front of the screen yesterday, but having prepared myself mentally to that particular breakout model so much these last few days prior, can only wonder if I would have taken it yesterday having noticed it today in review of the charts as yesterday's big 1st Frame play. It will show up next week no doubt again. I'll be there. Stay focused. ...and a good weekend to all....
Wed Mar 26 Trades & Journal
20140326
Short 1 NQ 3639.5, +5.0
Short 2 YM 16374, 16374, +7, +30
Long 2 TF 1175.4, 1175.4, +0.5, +1.7
Total NQ +5.0
Total YM +37
Total TF +2.2
With having reached a 5 pt equivalent TF profit by the first 3 trades, I decided to hold our Course Session class a little early as such earlier times benefit our Far East students. To my chagrin, they kept trading through the class because so many signals were clearly prominent today.... but that's ok. My goal is 5 pts for the self-imposed 1st Frame window, and after that, it matters little what the rest of the day does.. Stay focused....
Short 1 NQ 3639.5, +5.0
Short 2 YM 16374, 16374, +7, +30
Long 2 TF 1175.4, 1175.4, +0.5, +1.7
Total NQ +5.0
Total YM +37
Total TF +2.2
With having reached a 5 pt equivalent TF profit by the first 3 trades, I decided to hold our Course Session class a little early as such earlier times benefit our Far East students. To my chagrin, they kept trading through the class because so many signals were clearly prominent today.... but that's ok. My goal is 5 pts for the self-imposed 1st Frame window, and after that, it matters little what the rest of the day does.. Stay focused....
Tues Mar 25, Trades & Journal
20140325
Long 1 ES 1860, +2.0
Short 2 NQ 3642.0, 3642.0, +1.5, -1.5
Long 2 YM 16285, 16287, +7, +20
Long 2 NQ 3642.5, 3642.0, -2.0, -1.0
Long 1 TF 1182.6, -0.5
Long 2 1182.0, 1182.0, +1.0, +1.2
Long 2 YM 16269, 16270, +7, -7
Long 1 NQ 3624.75, -1.5
Long 2 TF 1177.5, 1176.5, -1.4, -0.5
Long 2 TF 1175.8, 1175.8, +1.0, -0.5
Long 1 YM 16238, +10
Long 3 TF 1175.1, 1174.7, 1174.2, +0.7, +2.0, +3.0
Total ES +2.0
Total YM +37
Total NQ -4.5
Total TF +6.0
Nearly all trades counter-trend again, but today were in the absence of Trade Plan breakdown entry models, unlike yesterday. Lost focus and made an error in an early NQ trade by simply failing to see the rule base was missing, and never should have taken that trade. Also, cannot explain why only 1 ES contract was taken at its entry level. Need to take at least two when trading the ES. Considering I was not able to enter shorts at the HOD where intended, am not unhappy with trades taken. Odd to say it, but made more yesterday while failing to take some critical entries within the Plan. A measure of a good day is sticking to the Plan, not how much is made by luck or good fortune, and simply cannot say that about yesterday's performance, despite the better outcome.
Long 1 ES 1860, +2.0
Short 2 NQ 3642.0, 3642.0, +1.5, -1.5
Long 2 YM 16285, 16287, +7, +20
Long 2 NQ 3642.5, 3642.0, -2.0, -1.0
Long 1 TF 1182.6, -0.5
Long 2 1182.0, 1182.0, +1.0, +1.2
Long 2 YM 16269, 16270, +7, -7
Long 1 NQ 3624.75, -1.5
Long 2 TF 1177.5, 1176.5, -1.4, -0.5
Long 2 TF 1175.8, 1175.8, +1.0, -0.5
Long 1 YM 16238, +10
Long 3 TF 1175.1, 1174.7, 1174.2, +0.7, +2.0, +3.0
Total ES +2.0
Total YM +37
Total NQ -4.5
Total TF +6.0
Nearly all trades counter-trend again, but today were in the absence of Trade Plan breakdown entry models, unlike yesterday. Lost focus and made an error in an early NQ trade by simply failing to see the rule base was missing, and never should have taken that trade. Also, cannot explain why only 1 ES contract was taken at its entry level. Need to take at least two when trading the ES. Considering I was not able to enter shorts at the HOD where intended, am not unhappy with trades taken. Odd to say it, but made more yesterday while failing to take some critical entries within the Plan. A measure of a good day is sticking to the Plan, not how much is made by luck or good fortune, and simply cannot say that about yesterday's performance, despite the better outcome.
Mon Mar 24 Trades & Journal
20140324
Long 2 YM 16266, 16266, -7, -7
Long 2 NQ 3627.25, 3624.5, -2.0, -1.0
Long 2 TF 1185.2, 1185.2, +0.7, +1.2
Long 2 TF 1184.6, 1184.1, -1.0, -0.5
Long 3 TF 1184.0, 1184.0, 1183.7, +0.7, +0.7, +2.3
Long 2 YM 16218, 16217, +5, -7
Long 1 TF 1176.7, -0.5
Long 2 TF 1176.0, 1176.2, +0.7, +1.2
Long 1 TF 1174.9, +1.5
Long 1 TF 1169.6, -0.7
Long 1 TF 1168.5, +4.0
Total YM -16
Total NQ -3.0
Total TF +10.3
There were two perfect and simple in-trend trades with the trade plan today, as prices proceeded to collapse totally. I wasn't in front of the screen at the Open for the 1st, and balked at the 2nd. The first was a simple aberration of the 3-bar ORB in the TF. Don't be late to the Open. You can miss so much. And although I've taken Opening trades from the plan fairly consistently these past weeks, nearly none of them worked. ...except the one I missed today, and that one was huge. The second simple trade missed was the 1st Series Double Pump. It takes some faith that the current trend will be sustained beyond support/resistance numbers to take breakouts that can develop so many points deep into the trend. But the fact that I've balked at the last 3 of those entry models in recent sessions should have been a reinforcement for my psyche to make the change. It was not. I'll take the next one. ...and as punishment for having missed the last 3 that worked so well to catch in-trend breakouts, the next one will surely fail. But that's ok. I need to get in the game on that trade entry model. I'm tired of missing it, and even more tired of having to report in my journal that I balked at taking it again. ... Luckily today, the counter trend bounces in the TF were so big, and even failing to take the in-trend plays still left me with more profit than I usually make in the single 1st Frame's trading. Stay focused. Identify your weaknesses, and your resolutions to change. Accept those changes as ingredients to better success, and take the trades in your plan.
Long 2 YM 16266, 16266, -7, -7
Long 2 NQ 3627.25, 3624.5, -2.0, -1.0
Long 2 TF 1185.2, 1185.2, +0.7, +1.2
Long 2 TF 1184.6, 1184.1, -1.0, -0.5
Long 3 TF 1184.0, 1184.0, 1183.7, +0.7, +0.7, +2.3
Long 2 YM 16218, 16217, +5, -7
Long 1 TF 1176.7, -0.5
Long 2 TF 1176.0, 1176.2, +0.7, +1.2
Long 1 TF 1174.9, +1.5
Long 1 TF 1169.6, -0.7
Long 1 TF 1168.5, +4.0
Total YM -16
Total NQ -3.0
Total TF +10.3
There were two perfect and simple in-trend trades with the trade plan today, as prices proceeded to collapse totally. I wasn't in front of the screen at the Open for the 1st, and balked at the 2nd. The first was a simple aberration of the 3-bar ORB in the TF. Don't be late to the Open. You can miss so much. And although I've taken Opening trades from the plan fairly consistently these past weeks, nearly none of them worked. ...except the one I missed today, and that one was huge. The second simple trade missed was the 1st Series Double Pump. It takes some faith that the current trend will be sustained beyond support/resistance numbers to take breakouts that can develop so many points deep into the trend. But the fact that I've balked at the last 3 of those entry models in recent sessions should have been a reinforcement for my psyche to make the change. It was not. I'll take the next one. ...and as punishment for having missed the last 3 that worked so well to catch in-trend breakouts, the next one will surely fail. But that's ok. I need to get in the game on that trade entry model. I'm tired of missing it, and even more tired of having to report in my journal that I balked at taking it again. ... Luckily today, the counter trend bounces in the TF were so big, and even failing to take the in-trend plays still left me with more profit than I usually make in the single 1st Frame's trading. Stay focused. Identify your weaknesses, and your resolutions to change. Accept those changes as ingredients to better success, and take the trades in your plan.
Fri Mar 21 Trades & Journal
20140321
Long 1 NQ 3704.75, -1.25
Long 2 TF 1197.7, 1197.8, +0.5, +0.5
Short 2 TF 1198.2 1198.9, -0.0, +1.2
Short 1 TF 1197.1, -0.0
Long 1 TF 1197.0, -0.2
Long 1 TF 1196.9, -0.3
Long 2 TF 1196.9, 1196.6, -0.0, +0.7
Long 1 TF 1196.5, +1.2
Long 1 TF 1196.9, -0.4
Long 1 NQ 3668.25, -2.0
Short 2 TF 1195.8, 1196.0, -0.5, +0.5
Short 2 TF 1198.4, 1198.4, +0.5, -0.6
Short 1 TF 1199.5, +1.3
Total NQ -3.25
Total TF +4.4
Stuck pretty much to plan today, but the plan didn't identify the major turns in either TF or NQ. ...and was asleep at the YM low while focusing on the TF. No excuse. I did call YM buy in the room, but was late and it exploded...just to spite me... An early TF short could have been established as runner....in hindsight, but the TF action contained so much relative strength and counter trend buy signals that sustaining the position would have required far more patience than I ever come to trading with. It's Friday... and a good weekend to all...
Long 1 NQ 3704.75, -1.25
Long 2 TF 1197.7, 1197.8, +0.5, +0.5
Short 2 TF 1198.2 1198.9, -0.0, +1.2
Short 1 TF 1197.1, -0.0
Long 1 TF 1197.0, -0.2
Long 1 TF 1196.9, -0.3
Long 2 TF 1196.9, 1196.6, -0.0, +0.7
Long 1 TF 1196.5, +1.2
Long 1 TF 1196.9, -0.4
Long 1 NQ 3668.25, -2.0
Short 2 TF 1195.8, 1196.0, -0.5, +0.5
Short 2 TF 1198.4, 1198.4, +0.5, -0.6
Short 1 TF 1199.5, +1.3
Total NQ -3.25
Total TF +4.4
Stuck pretty much to plan today, but the plan didn't identify the major turns in either TF or NQ. ...and was asleep at the YM low while focusing on the TF. No excuse. I did call YM buy in the room, but was late and it exploded...just to spite me... An early TF short could have been established as runner....in hindsight, but the TF action contained so much relative strength and counter trend buy signals that sustaining the position would have required far more patience than I ever come to trading with. It's Friday... and a good weekend to all...
Thur Mar 20 Trades & Journal
Trade Summary
20140320
Short 2 NQ 3674.25, 3670.5, +4.0, +2.0
Long 1 NQ 6365.25, -2.0
Long 2 NQ 3662.25, 3662.25, -2.0, -2.0
Long 2 TF 1184.5, 1184.5, +0.5, -0.5
Long 3 TF 1184.2, 1184.2, 1184.5, +2.0, +1.5, +1.0
Short 1 TF 1187.6, -0.5
Short 1 TF 1189.4, -0.2
Short 1 YM 16139, -6
Short 2 NQ 3681.25, 3681.0, -1.5, -0.0
Short 1 TF 1194.5, 1194.9, -0.5
Short 1 TF 1196.8, -.1
Long 2 TF 1193.2, 1192.9, -0.2, +0.5
Long 1 TF 1193.1, +1.2
Total YM -6
Total NQ -1.5
Total TF +4.7
Patterns like yesterday's FOMC volatility don't exist in a vacuum. They echo back. Their footprints come in pairs. And today, the giant's other foot came down with a shock wave mirroring that same decline in counter trend. Some will point to the news. But that's just a cover story. Had the Philly Fed been less positive, or even negative, the talking heads would just point out the sharp selling that preceded the news as 'done in anticipation'. Then they could add, "sell the rumor, fade the news" to their need for a logical explanation and fitting retort to their need to sustain the myth of Efficient Market Theory. The markets are all structure. The news creates waves, but is useless unless the structure is in a position to receive it. When it's not, it's ignored. My biggest mistake today was in not taking a mental picture of yesterday PM's volatility patterns as a good preparation to trading and position runner considerations. The buy signals at the Low-of-Day were were pretty perfect, but without considering the structures need to reflect that structure in mirrored opposites, I retained no runner, even though I had 3 contracts at that LOD. That same lack of respect also allowed too many attempts to short the explosive 2nd trend too soon before its job of mirror in counter point the previous day's decline was finally done. Open your eyes. The market is all structure. Good news, bad news, it's always over in minutes. After that, the structure always tells the story. "The news is meant to confuse..", as my mentor always use to remind me. "Follow the news and you will lose."
20140320
Short 2 NQ 3674.25, 3670.5, +4.0, +2.0
Long 1 NQ 6365.25, -2.0
Long 2 NQ 3662.25, 3662.25, -2.0, -2.0
Long 2 TF 1184.5, 1184.5, +0.5, -0.5
Long 3 TF 1184.2, 1184.2, 1184.5, +2.0, +1.5, +1.0
Short 1 TF 1187.6, -0.5
Short 1 TF 1189.4, -0.2
Short 1 YM 16139, -6
Short 2 NQ 3681.25, 3681.0, -1.5, -0.0
Short 1 TF 1194.5, 1194.9, -0.5
Short 1 TF 1196.8, -.1
Long 2 TF 1193.2, 1192.9, -0.2, +0.5
Long 1 TF 1193.1, +1.2
Total YM -6
Total NQ -1.5
Total TF +4.7
Patterns like yesterday's FOMC volatility don't exist in a vacuum. They echo back. Their footprints come in pairs. And today, the giant's other foot came down with a shock wave mirroring that same decline in counter trend. Some will point to the news. But that's just a cover story. Had the Philly Fed been less positive, or even negative, the talking heads would just point out the sharp selling that preceded the news as 'done in anticipation'. Then they could add, "sell the rumor, fade the news" to their need for a logical explanation and fitting retort to their need to sustain the myth of Efficient Market Theory. The markets are all structure. The news creates waves, but is useless unless the structure is in a position to receive it. When it's not, it's ignored. My biggest mistake today was in not taking a mental picture of yesterday PM's volatility patterns as a good preparation to trading and position runner considerations. The buy signals at the Low-of-Day were were pretty perfect, but without considering the structures need to reflect that structure in mirrored opposites, I retained no runner, even though I had 3 contracts at that LOD. That same lack of respect also allowed too many attempts to short the explosive 2nd trend too soon before its job of mirror in counter point the previous day's decline was finally done. Open your eyes. The market is all structure. Good news, bad news, it's always over in minutes. After that, the structure always tells the story. "The news is meant to confuse..", as my mentor always use to remind me. "Follow the news and you will lose."
Wed Mar 19 Trades & Journal
20140319
Short 2 YM 16261, 16259, +7, -7
Short 2 TF 1197.9, 1197.9, +0.5, -0.5
Long 2 TF 1198.4, 1198.4, +0.4, -0.4
Short 1 TF 1198.9, -0.5
Short 2 TF 1199.3, 1199.4, -0.4, -0.6
Short 2 NQ 3700.75, 3700.75, -0.5, +2.0
Long 2 TF 1197.7, 1197.7, +0.5, +1.2
Long 2 TF 1196.2, 1196.4, +0.5, +1.0
Long 1 NQ 3692.5, -2.0
Long 2 TF 1196.3, 1196.4, +0.5, -0.5
Long 2 TF 1185.4, 1185.4, +0.5, +1.3
Short 2 TF 1197.6, 1197.6, -0.2, -0.0
Total YM -0
Total NQ -0.5
Total TF +3.3
"....a whole lot'a shakin' goin' on.", as Elvis would say. ...but every trade was according to plan, and unlike yesterday, took an early stp-n-rev breakout, but this one, also unlike yesterday, was not clean and I net no profit from it. But still examining yesterday, especially my mindset at the inflection levels, as to why I balked so badly at one of the key bull breakout levels of the day. Keep learning. The best source to the improvement of your trading is always the history of your own trades and entry decisions. What Technical Event Entry Models are supported by your Trade Plan? Do they seem to be the right ones for positioning in-trend or end-of-trend? If not, what changes might be considered for change... and how many days of testing and observation can you support such changes with? If the Entry Models are good..., then what mental landscape might you find yourself impeded by at the moment those models are appearing at the right edge of your video screen. What is keeping you out of the best trades? Consider. Reflect. Adjust. Commit. Establish discipline. Stay focused on the rules.
Short 2 YM 16261, 16259, +7, -7
Short 2 TF 1197.9, 1197.9, +0.5, -0.5
Long 2 TF 1198.4, 1198.4, +0.4, -0.4
Short 1 TF 1198.9, -0.5
Short 2 TF 1199.3, 1199.4, -0.4, -0.6
Short 2 NQ 3700.75, 3700.75, -0.5, +2.0
Long 2 TF 1197.7, 1197.7, +0.5, +1.2
Long 2 TF 1196.2, 1196.4, +0.5, +1.0
Long 1 NQ 3692.5, -2.0
Long 2 TF 1196.3, 1196.4, +0.5, -0.5
Long 2 TF 1185.4, 1185.4, +0.5, +1.3
Short 2 TF 1197.6, 1197.6, -0.2, -0.0
Total YM -0
Total NQ -0.5
Total TF +3.3
"....a whole lot'a shakin' goin' on.", as Elvis would say. ...but every trade was according to plan, and unlike yesterday, took an early stp-n-rev breakout, but this one, also unlike yesterday, was not clean and I net no profit from it. But still examining yesterday, especially my mindset at the inflection levels, as to why I balked so badly at one of the key bull breakout levels of the day. Keep learning. The best source to the improvement of your trading is always the history of your own trades and entry decisions. What Technical Event Entry Models are supported by your Trade Plan? Do they seem to be the right ones for positioning in-trend or end-of-trend? If not, what changes might be considered for change... and how many days of testing and observation can you support such changes with? If the Entry Models are good..., then what mental landscape might you find yourself impeded by at the moment those models are appearing at the right edge of your video screen. What is keeping you out of the best trades? Consider. Reflect. Adjust. Commit. Establish discipline. Stay focused on the rules.
Tues Mar 18 Trades & Journal
Trade Summary
20140318
Short 2 NQ 3673.25, 3672.75, -1.0, +2.0
Short 2 YM 16231 16235, -5, -9
Short 3 TF 1188.7, 1188.9, 1188.7, +0.5, +0.5, -0.2
Short 1 YM 16244, -6
Short 3 TF 1188.6, 1188.6, 1188.4, +0.7, +0.7, +0.8
Short 2 NQ 3683.25, 3683.0, -2.0, -1.5
Short 2 TF 1191.6, 1191.6, -0.3, -0.5
Short 2 TF 1192.3, 1192.2, -0.6, -0.7
Short 2 TF 1194.3, 1194.2, +0.7, +1.0
Long 2 TF 1192.5, 1192.3, -0.5, +0.5
Long 1 TF 1192.4, +1.0
PM Trades: 1198.8, 1198.7, +0.7, +0.5
Long 2 TF
Total NQ -2.5
Total YM -20
Total TF +4.8
Serial Sequent fractal studies is an incredible tool. But knowing where the impulsive breakouts should come still won't make you pull the trigger. That has to come from a disciplined adherence to a trade plan that includes them. Mine does, and yet, today, I still couldn't make myself a believer and muster faith enough to buy them. So full of doubt about the possibility of bull Persistence today, that even when the market did pull back to a 1st Chance Texaco long entry level, I only managed enough faith to hold on for a net +1.0 with my last trade. Would risking the breakouts be any worse than the counter trend fades I got stopped out of today..? I don't see why. Review your breakout filters. Not all of them fit the requirements. But those that do, take the trades. Partial out some quickly for a quick pay-off and to allow a paid-for, shallow stp-loss on the 2nd unit, and give the market a chance it deserves. Position yourself to be surprised. Stay disciplined.
20140318
Short 2 NQ 3673.25, 3672.75, -1.0, +2.0
Short 2 YM 16231 16235, -5, -9
Short 3 TF 1188.7, 1188.9, 1188.7, +0.5, +0.5, -0.2
Short 1 YM 16244, -6
Short 3 TF 1188.6, 1188.6, 1188.4, +0.7, +0.7, +0.8
Short 2 NQ 3683.25, 3683.0, -2.0, -1.5
Short 2 TF 1191.6, 1191.6, -0.3, -0.5
Short 2 TF 1192.3, 1192.2, -0.6, -0.7
Short 2 TF 1194.3, 1194.2, +0.7, +1.0
Long 2 TF 1192.5, 1192.3, -0.5, +0.5
Long 1 TF 1192.4, +1.0
PM Trades: 1198.8, 1198.7, +0.7, +0.5
Long 2 TF
Total NQ -2.5
Total YM -20
Total TF +4.8
Serial Sequent fractal studies is an incredible tool. But knowing where the impulsive breakouts should come still won't make you pull the trigger. That has to come from a disciplined adherence to a trade plan that includes them. Mine does, and yet, today, I still couldn't make myself a believer and muster faith enough to buy them. So full of doubt about the possibility of bull Persistence today, that even when the market did pull back to a 1st Chance Texaco long entry level, I only managed enough faith to hold on for a net +1.0 with my last trade. Would risking the breakouts be any worse than the counter trend fades I got stopped out of today..? I don't see why. Review your breakout filters. Not all of them fit the requirements. But those that do, take the trades. Partial out some quickly for a quick pay-off and to allow a paid-for, shallow stp-loss on the 2nd unit, and give the market a chance it deserves. Position yourself to be surprised. Stay disciplined.
Mon Mar 17 Trades & Journal
Trade Summary
20140317
Short 2 TF 1191.3, 1191.3, +0.7, -0.7
Short 2 YM 16165, 16165, -14, -14
Short 2 NQ 3663.25, 3663.25, 3663.25, -2.5, +2.0, +2.0
Short 3 YM 16191 16191, 16195, -7, -7, -3
Short 5 NQ 3671.5, 3671.50, 3671.5, 3672.0, 3670.0, +2.0, +2.0, +2.0, +6.0, +5.0
Long 2 NQ 3663.25, 3663.25, +2.0, +2.0
Long 2 TF 1188.2, 1188.4, +1.2, +0.5
Long 2 TF 1188.0, 1188.2, +0.5, -0.0
Long 2 TF 1187.8, 1187.9, -0.3, -0.3
Long 2 ES 1848.25, 1848.25, +1.5, +2.5
Long 2 TF 1183.6, 1183.5, -0.7, -0.0
Long 1 NQ 3652.5, -2.0
Total YM -45
Total ES +4.0
Total NQ +20.5
Total TF +0.9
We love the volatility....but sometimes it doesn't love us back. Did manage to stay alert after YM stop-outs to see the clean signals in NQ. Since TF is contract of choice, it always feels like a lousy day when it fails to fit the trade plan models, and today's TF action didn't match my entry models at either end. We take the trades where we understand and recognize them. ...and always look forward to tomorrow... Stay focused.
20140317
Short 2 TF 1191.3, 1191.3, +0.7, -0.7
Short 2 YM 16165, 16165, -14, -14
Short 2 NQ 3663.25, 3663.25, 3663.25, -2.5, +2.0, +2.0
Short 3 YM 16191 16191, 16195, -7, -7, -3
Short 5 NQ 3671.5, 3671.50, 3671.5, 3672.0, 3670.0, +2.0, +2.0, +2.0, +6.0, +5.0
Long 2 NQ 3663.25, 3663.25, +2.0, +2.0
Long 2 TF 1188.2, 1188.4, +1.2, +0.5
Long 2 TF 1188.0, 1188.2, +0.5, -0.0
Long 2 TF 1187.8, 1187.9, -0.3, -0.3
Long 2 ES 1848.25, 1848.25, +1.5, +2.5
Long 2 TF 1183.6, 1183.5, -0.7, -0.0
Long 1 NQ 3652.5, -2.0
Total YM -45
Total ES +4.0
Total NQ +20.5
Total TF +0.9
We love the volatility....but sometimes it doesn't love us back. Did manage to stay alert after YM stop-outs to see the clean signals in NQ. Since TF is contract of choice, it always feels like a lousy day when it fails to fit the trade plan models, and today's TF action didn't match my entry models at either end. We take the trades where we understand and recognize them. ...and always look forward to tomorrow... Stay focused.
Fri Mar 14 Trades & Journal
Trade Summary
20140314
Short 1 TF 1176.4, -0.5
Short 2 YM 16075, 16075, -6, -6
Long 1 TF 1173.5, -0.0
Long 1 TF 1173.6, +2.0
Short 1 NQ 3647.0, -2.0
Short 2 NQ 3649.0, 3648.75, +5.0, +2.0
Long 2 YM 16059, 16057, +10, +7
Total YM +3
Total NQ +5.0
Total TF +1.5
Short window for trading today, but caught a couple decent ones. Stay focused. ...and a good weekend to all...
20140314
Short 1 TF 1176.4, -0.5
Short 2 YM 16075, 16075, -6, -6
Long 1 TF 1173.5, -0.0
Long 1 TF 1173.6, +2.0
Short 1 NQ 3647.0, -2.0
Short 2 NQ 3649.0, 3648.75, +5.0, +2.0
Long 2 YM 16059, 16057, +10, +7
Total YM +3
Total NQ +5.0
Total TF +1.5
Short window for trading today, but caught a couple decent ones. Stay focused. ...and a good weekend to all...
Thurs Mar 13 Trades & Journal
Trade Summary
20140313
Short 4 NQ 3715.5, 3715.5, 3716.0, 3716.5, -0.0, +2.0, +2.0, +2.0
Short1 NQ 3716.75, -0.25
Long 1 TF 1191.1, +2.0
Long 1 TF 1189.9, -0.7
Long 3 TF 1189.0, 1189.1, 1188.8, +1.5, +0.7, +0.7
Long 1 YM 16348, -7
Long 1 TF 1186.1, -0.5
Long 2 TF 1185.2, 1185.4, -0.3, -0.5
Long 2 TF 1184.7, 1184.4, -0.7, -0.4
Long 3 TF 1184.4, 1184.4, 1184.5, +1.0, +1.0, +0.7
Long 1 TF 1184.9, +1.5
Total YM -7
Total NQ +5.75
Total TF +6.0
The best trades on a Persistent Trend Day are in-trend. And today, I balked at the inflection level breakdown entry that would have captured the 2nd leg of the bear action. I couldn't get past the momentum indicator being so low. But in reality it had enough room to spare and in fact, was reaching a level where price could actually accelerate into a short term oversold status. I just balked. And as a consequence, found myself counter trend trading away my profits with stp-outs until I finally hit on the right combination of technical minutia to trigger into reversal long positions. This was not a great example of trading. The better way to have finished the morning was to have taken the breakdown play, in-trend. Don't give back your profits counter trend trading as a means to 'getting even' with having missed the in-trend play. Remember the 2nd Corollary to the Douglas Premise: "Most of the opportunity that is missed in the markets is missed by traders who couldn't concede that the market could go the expected distance, but in the opposite direction."
20140313
Short 4 NQ 3715.5, 3715.5, 3716.0, 3716.5, -0.0, +2.0, +2.0, +2.0
Short1 NQ 3716.75, -0.25
Long 1 TF 1191.1, +2.0
Long 1 TF 1189.9, -0.7
Long 3 TF 1189.0, 1189.1, 1188.8, +1.5, +0.7, +0.7
Long 1 YM 16348, -7
Long 1 TF 1186.1, -0.5
Long 2 TF 1185.2, 1185.4, -0.3, -0.5
Long 2 TF 1184.7, 1184.4, -0.7, -0.4
Long 3 TF 1184.4, 1184.4, 1184.5, +1.0, +1.0, +0.7
Long 1 TF 1184.9, +1.5
Total YM -7
Total NQ +5.75
Total TF +6.0
The best trades on a Persistent Trend Day are in-trend. And today, I balked at the inflection level breakdown entry that would have captured the 2nd leg of the bear action. I couldn't get past the momentum indicator being so low. But in reality it had enough room to spare and in fact, was reaching a level where price could actually accelerate into a short term oversold status. I just balked. And as a consequence, found myself counter trend trading away my profits with stp-outs until I finally hit on the right combination of technical minutia to trigger into reversal long positions. This was not a great example of trading. The better way to have finished the morning was to have taken the breakdown play, in-trend. Don't give back your profits counter trend trading as a means to 'getting even' with having missed the in-trend play. Remember the 2nd Corollary to the Douglas Premise: "Most of the opportunity that is missed in the markets is missed by traders who couldn't concede that the market could go the expected distance, but in the opposite direction."
Wed Mar 12 Trades & Journal
Trade Summary
20140312
Short 2 TF 1179.9, 1179.9, +0.7, -0.3
Short 1 NQ 3677.0, -2.0
Short 2 NQ 3682.5, 3682.5, +2.0, -1.0
Short 2 TF 1182.2, +0.7, -0.3
Short 1 NQ 3683.75, +4.0
Short 3 NQ 3686.75, 3686.75, 3687.0, +2.0, -1.5, +4.0
Short 2 TF 1184.1, 1184.0, 1184.1, +0.5, +2.0, +0.5
Short 1 TF 1183.9, +1.0
Short 1 TF 1193.9, -0.5
Short 1 NQ 3694.25, +2.0
Short 1 NQ 3694.25, -2.0
Short 1 TF 1186.4, -0.5
Short 1 TF 1187.1, +1.5
Short 3 NQ 3699.5, 3699.5, 3699.25, +2.0, -2.5, -3.0
Short 1 NQ 3700.25, -2.0
Short 2 ES 1167.75, 1167.75, +1.0, +1.5
Short 1 TF 1189.1, +1.5
Total ES +2.5
Total NQ +4.0
Total TF +6.8
Data failures from Ninjatrader historical servers for CQG today plagued the early going, and missed several trade entry models, especially the TF Low of Day. Fortunately, the volatility allowed counter trend models to work pretty well, at least until the NQ was nearing a climax. There is a sense of being anxious that can come of fear of missing a trade entry as the market is spiking into final structure signals and exhaustion zones. But this is a bad habit of mine that must be better examined. Usually, after such sustained moves, there are retests or pauses at the extremes that give you all the time to clear your mind and enter when the price patterns have better settled in. Don't be rushed into a trade just because you just got stopped out of another. Revenge means nothing to the market. It doesn't know what you're feeling and can't be affected by it. Accept your stp-outs, stay cool. Wait for the trade to gel. Even that extra minute might keep you out of a bad trade entry.
20140312
Short 2 TF 1179.9, 1179.9, +0.7, -0.3
Short 1 NQ 3677.0, -2.0
Short 2 NQ 3682.5, 3682.5, +2.0, -1.0
Short 2 TF 1182.2, +0.7, -0.3
Short 1 NQ 3683.75, +4.0
Short 3 NQ 3686.75, 3686.75, 3687.0, +2.0, -1.5, +4.0
Short 2 TF 1184.1, 1184.0, 1184.1, +0.5, +2.0, +0.5
Short 1 TF 1183.9, +1.0
Short 1 TF 1193.9, -0.5
Short 1 NQ 3694.25, +2.0
Short 1 NQ 3694.25, -2.0
Short 1 TF 1186.4, -0.5
Short 1 TF 1187.1, +1.5
Short 3 NQ 3699.5, 3699.5, 3699.25, +2.0, -2.5, -3.0
Short 1 NQ 3700.25, -2.0
Short 2 ES 1167.75, 1167.75, +1.0, +1.5
Short 1 TF 1189.1, +1.5
Total ES +2.5
Total NQ +4.0
Total TF +6.8
Data failures from Ninjatrader historical servers for CQG today plagued the early going, and missed several trade entry models, especially the TF Low of Day. Fortunately, the volatility allowed counter trend models to work pretty well, at least until the NQ was nearing a climax. There is a sense of being anxious that can come of fear of missing a trade entry as the market is spiking into final structure signals and exhaustion zones. But this is a bad habit of mine that must be better examined. Usually, after such sustained moves, there are retests or pauses at the extremes that give you all the time to clear your mind and enter when the price patterns have better settled in. Don't be rushed into a trade just because you just got stopped out of another. Revenge means nothing to the market. It doesn't know what you're feeling and can't be affected by it. Accept your stp-outs, stay cool. Wait for the trade to gel. Even that extra minute might keep you out of a bad trade entry.
Tues Mar 11 Trade & Journal
20140311
Long 1 TF 1201.0, -0.4
Long 1 TF 1198.9, -0.7
Long 2 TF 1198.1, 1198.1, -0.5, -0.5
Long 2 ES 1873.5, 1873.5, -1.0, -1.0
Long 2 TF 1194.2, 1194.2, -0.5, -0.5
Long 3 NQ 3703.5, 3703.5, 3703.5, +2.0, +2.0, +7.0
Long 2 TF 1193.8, 1193.8, +1.0, +2.2
Long 2 TF 1192.9, 1192.9, +1.0, +1.8
Long 1 TF 1197.3, -0.5
Long 1 TF 1198.1, -0.5
Long 1 TF 1198.8, +1.8
Long 1 TF 1120.8, -.5
PM Trades
Long 2 TF 1191.3, 1190.8, -0.7, -0.2
Long 2 TF 1190.3, 1190.2, +1.0, +1.0
Long 1 TF 1182.4, -0.4
Total ES -2.0
Total NQ +11.0
Total TF +3.9
It can't be stressed enough that you have to be ready execute the trades in your plan. If some require stp-n-rev positioning, then that must be all the more ready as it comes so quickly. Those trades should be announced in your head as 'long with stp-n-rev back to short', as opposed to just 'long' and taking that position, and then deciding it's a stp-n-rev a minute later. Even that might be too late to position for the order entry mechanics of properly adjusting the stops on the long and still getting the stp-n-rev short entries positioned. Be focused. The initial trend breaks of the 1st Frame by nature are the fastest usually of the day. Without practice and preparation, and seeing ahead to the possibility of the model's fruition, you don't have a chance to take advantage of the freshly breaking trends. I was too slow in two places in the early going that could have positioned me to participate on the downside before the buy signals finally came in solidly. Had I not been slow, it would have made the difference in not having to dig myself out of a hole before the true reversal signals did take place.
Long 1 TF 1201.0, -0.4
Long 1 TF 1198.9, -0.7
Long 2 TF 1198.1, 1198.1, -0.5, -0.5
Long 2 ES 1873.5, 1873.5, -1.0, -1.0
Long 2 TF 1194.2, 1194.2, -0.5, -0.5
Long 3 NQ 3703.5, 3703.5, 3703.5, +2.0, +2.0, +7.0
Long 2 TF 1193.8, 1193.8, +1.0, +2.2
Long 2 TF 1192.9, 1192.9, +1.0, +1.8
Long 1 TF 1197.3, -0.5
Long 1 TF 1198.1, -0.5
Long 1 TF 1198.8, +1.8
Long 1 TF 1120.8, -.5
PM Trades
Long 2 TF 1191.3, 1190.8, -0.7, -0.2
Long 2 TF 1190.3, 1190.2, +1.0, +1.0
Long 1 TF 1182.4, -0.4
Total ES -2.0
Total NQ +11.0
Total TF +3.9
It can't be stressed enough that you have to be ready execute the trades in your plan. If some require stp-n-rev positioning, then that must be all the more ready as it comes so quickly. Those trades should be announced in your head as 'long with stp-n-rev back to short', as opposed to just 'long' and taking that position, and then deciding it's a stp-n-rev a minute later. Even that might be too late to position for the order entry mechanics of properly adjusting the stops on the long and still getting the stp-n-rev short entries positioned. Be focused. The initial trend breaks of the 1st Frame by nature are the fastest usually of the day. Without practice and preparation, and seeing ahead to the possibility of the model's fruition, you don't have a chance to take advantage of the freshly breaking trends. I was too slow in two places in the early going that could have positioned me to participate on the downside before the buy signals finally came in solidly. Had I not been slow, it would have made the difference in not having to dig myself out of a hole before the true reversal signals did take place.
Mon Mar 10 Trades & Journal
Trade Summary
20140310
Long 2 NQ 3691. 3691.0, +2.0, -2.0
Long 2 TF 1193.3, 1193.3, -0.7, -0.7
Long 2 TF 1192.3, 1192.2, -0.0, -0.4
Long 2 TF 1191.9, 1192.0, +1.3, +0.5
Short 1 TF 1191.5, -0.4
Short 2 NQ 3693.25, 3694.25, -2.0, -1.0
Short 2 TF 1195.5, 1196.1, -1.0, -0.5
Short 4 NQ 3695.75, 3695.75, 3695.75, 3695.75, -1.0, -1.0, -2.0, -2.0
PM Trades:
Short 2 TF 1195.8, 1195.8, +0.6, -0.3
Total NQ -9.0
Total TF -1.6
Volatility is only your friend if you're entry models match the price structure. Today, mine did not. The best thing you can do when you're out of sync is to cut your losses. Tomorrow is another day, and one day's losses among a good streak of winners does not mean the entry models are in doubt. Have a limit to your losses and stop-losses on your behavior. A bad day does not mean you'll have a bad week or a bad month. Stay focused.
20140310
Long 2 NQ 3691. 3691.0, +2.0, -2.0
Long 2 TF 1193.3, 1193.3, -0.7, -0.7
Long 2 TF 1192.3, 1192.2, -0.0, -0.4
Long 2 TF 1191.9, 1192.0, +1.3, +0.5
Short 1 TF 1191.5, -0.4
Short 2 NQ 3693.25, 3694.25, -2.0, -1.0
Short 2 TF 1195.5, 1196.1, -1.0, -0.5
Short 4 NQ 3695.75, 3695.75, 3695.75, 3695.75, -1.0, -1.0, -2.0, -2.0
PM Trades:
Short 2 TF 1195.8, 1195.8, +0.6, -0.3
Total NQ -9.0
Total TF -1.6
Volatility is only your friend if you're entry models match the price structure. Today, mine did not. The best thing you can do when you're out of sync is to cut your losses. Tomorrow is another day, and one day's losses among a good streak of winners does not mean the entry models are in doubt. Have a limit to your losses and stop-losses on your behavior. A bad day does not mean you'll have a bad week or a bad month. Stay focused.
Fri Mar 7 Trades & Journal
20140307
Short 2 YM 16474, 17479, -3, +10
Short 2 YM 16486, 16486, +7, +20
Long 1 ES 1875.0, +2.0
Short 1 YM 16460, +25
Short 1 YM 16576, -3
Short 2 TF 1204.2, 1204.1, +2.0, +0.5
Short 1 TF 1204.7, -0.3
Total ES +2.0
Total YM +56
Total TF +2.2
In fast action, you have to see the trade models from your Trade Plan setting up before they arrive at the right edge of your video screen. By the time they've arrived, it is too late to get ready. You must be ready with your auto-trade strategy from your trade platform ready to be clicked in. If you have no trade models, then fast action is just a blur and by the time your tape reading skills have caught up with the intuition necessary for judgement, the trade is already gone. Discipline begins with having a Trade Plan in the first place. The Analyst is not allowed to trade.
Short 2 YM 16474, 17479, -3, +10
Short 2 YM 16486, 16486, +7, +20
Long 1 ES 1875.0, +2.0
Short 1 YM 16460, +25
Short 1 YM 16576, -3
Short 2 TF 1204.2, 1204.1, +2.0, +0.5
Short 1 TF 1204.7, -0.3
Total ES +2.0
Total YM +56
Total TF +2.2
In fast action, you have to see the trade models from your Trade Plan setting up before they arrive at the right edge of your video screen. By the time they've arrived, it is too late to get ready. You must be ready with your auto-trade strategy from your trade platform ready to be clicked in. If you have no trade models, then fast action is just a blur and by the time your tape reading skills have caught up with the intuition necessary for judgement, the trade is already gone. Discipline begins with having a Trade Plan in the first place. The Analyst is not allowed to trade.
Thurs Mar 6 Trades & Journal
20140306
Short 2 NQ 3735.25, 3735.75, -1.5, +2.0
Short 2 NQ 3735.5, 3736.25, -1.5, +1.25
Short 2 NQ 3736.5, 3736.75, +4.0, +2.0
Long 2 TF 1204.2, 1204.2, +0.5, -0.5
Long 3 NQ 3736.25, 3736.25, 3725.25, +3.0, +2.0, +2.0
Long 2 TF 1203.7, 1203.7, -1.4, -1.4
Short 1 TF 1204.4, -0.1
Long 2 TF 1204.7, 1204.7, +0.4, -0.5
Short 2 TF 1204.9, 1204.7, +0.5, +1.0
Long 2 NQ 3730.0, 3729.75, +3.25, +2.0
Long 2 TF 1203.2, 1204.4, +0.5, +0.2
PM trades:
Short 2 TF 1204.1, 1204.1, +0.5, +0.7
Total NQ +18.5
Total TF -0.3
A Trade Plan is designed first to identify the plentiful appearance of certain technical models whose outcome is very consistent. Without such a plan, you flounder with tape reading and intuition guided by an oft too random selection of technical trade tools. But sometimes your Trade Plan does not perform according to the typical model outcome. At such times, you have a Trade Management Plan that limits your losses. Today, TF traded outside the parameters of typical model outcome, but I took the trades I was supposed to take, and cannot fault a plan that works with good consistency. However, losses in the TF did compel me to exit trades in the NQ a bit earlier than intended as a way to insure that I would cover losses in the TF. Every trade should ideally stand on its own. ...easier said than done...! Stay focused.
PM Addendum: Sometimes it pays to be in front of the screen all day. Today would have been one of those days, as the model that failed to appear in the AM frame for the TF contract appeared in the PM frame at the piano drop low. I didn't return till the subsequent bounce was hitting resistance and was a short at that moment had become counter trend to the reversal. But that's ok. In general, since starting to limit trades to the 1st Frame, I've generally had better overall weekly results, and a more relaxed disposition to trading. With Serial Sequent, the opening action with its greater overall volatility is now accessible and shows better production. Stay disciplined.
Short 2 NQ 3735.25, 3735.75, -1.5, +2.0
Short 2 NQ 3735.5, 3736.25, -1.5, +1.25
Short 2 NQ 3736.5, 3736.75, +4.0, +2.0
Long 2 TF 1204.2, 1204.2, +0.5, -0.5
Long 3 NQ 3736.25, 3736.25, 3725.25, +3.0, +2.0, +2.0
Long 2 TF 1203.7, 1203.7, -1.4, -1.4
Short 1 TF 1204.4, -0.1
Long 2 TF 1204.7, 1204.7, +0.4, -0.5
Short 2 TF 1204.9, 1204.7, +0.5, +1.0
Long 2 NQ 3730.0, 3729.75, +3.25, +2.0
Long 2 TF 1203.2, 1204.4, +0.5, +0.2
PM trades:
Short 2 TF 1204.1, 1204.1, +0.5, +0.7
Total NQ +18.5
Total TF -0.3
A Trade Plan is designed first to identify the plentiful appearance of certain technical models whose outcome is very consistent. Without such a plan, you flounder with tape reading and intuition guided by an oft too random selection of technical trade tools. But sometimes your Trade Plan does not perform according to the typical model outcome. At such times, you have a Trade Management Plan that limits your losses. Today, TF traded outside the parameters of typical model outcome, but I took the trades I was supposed to take, and cannot fault a plan that works with good consistency. However, losses in the TF did compel me to exit trades in the NQ a bit earlier than intended as a way to insure that I would cover losses in the TF. Every trade should ideally stand on its own. ...easier said than done...! Stay focused.
PM Addendum: Sometimes it pays to be in front of the screen all day. Today would have been one of those days, as the model that failed to appear in the AM frame for the TF contract appeared in the PM frame at the piano drop low. I didn't return till the subsequent bounce was hitting resistance and was a short at that moment had become counter trend to the reversal. But that's ok. In general, since starting to limit trades to the 1st Frame, I've generally had better overall weekly results, and a more relaxed disposition to trading. With Serial Sequent, the opening action with its greater overall volatility is now accessible and shows better production. Stay disciplined.
Wed Mar 5 Trades & Journal
20140305
Long 1 TF 1204.7, -1.0
Long 2 TF 1202.3, 1202.3, +2.5, +2.2
Long 2 TF 1204.3, 1204.2, -0.5, +0.5
Long 2 TF 1202.1, 1202.1, +0.5, +1.6
Long 1 TF 1202.0, +2.2
Total TF +8.0
As difficult as it was to find turns and reversals yesterday was it easy to do so today. ...if your Trade Plan was inclusive of 1st Frame reversal models. And if so, you have to be willing to follow that plan in the blink of a moment when those models appear at the right edge of your video screen. Have a Trade Plan that demonstrates the market's propensity to repeat itself in confluent models. Trade your plan regardless of the news and any trend prejudice that creeps into your thinking.
Long 1 TF 1204.7, -1.0
Long 2 TF 1202.3, 1202.3, +2.5, +2.2
Long 2 TF 1204.3, 1204.2, -0.5, +0.5
Long 2 TF 1202.1, 1202.1, +0.5, +1.6
Long 1 TF 1202.0, +2.2
Total TF +8.0
As difficult as it was to find turns and reversals yesterday was it easy to do so today. ...if your Trade Plan was inclusive of 1st Frame reversal models. And if so, you have to be willing to follow that plan in the blink of a moment when those models appear at the right edge of your video screen. Have a Trade Plan that demonstrates the market's propensity to repeat itself in confluent models. Trade your plan regardless of the news and any trend prejudice that creeps into your thinking.
Tues Mar 4 Trades & Journal
20140304
Short 2 YM 16348, 16348, +7, +17
Long 2 YM 16322, 16324, +7, +20
Short 1 TF 1200.0, -1.4
Short 2 NQ 3715.75, 3715.75, -1.0, -1.0
Short 1 TF 1203.2, -1.4
Short 1 TF 1203.6, +2.8
Short 1 TF 1204.6, -1.4
Short 2 TF 1206.3, 1206.0, -0.1, +0.5
Short 2 TF 1206.9, 1206.6, +1.0, -0.4
Short 2 TF 1206.9, 1207.1, -0.6, -0.4
Short 2 TF 1207.5, 1207.7, +1.2, +1.0
Short 1 NQ 3719.25, +3.0
Long 2 NQ 3714.0, 3714.25, +1.5, +2.0
Short 1 TF 1208.9, -0.5
PM trades:
Long 2 NQ 3712.75, 3712.75, +2.0, -1.25
Long 1 TF 1207.0, -0.0
Long 2 NQ 3710.25, 3709.75, -2.0, -1.0
Long 1 TF 1205.3, -0.3
Short 2 TF 1205.0, 1205.0, +0.4, -0.4
Total YM +51
Total NQ +2.25
Total TF -0.0
Most notable trait of the Persistent Trend Day....? They're unbelievable. How could anyone get in sync with such shallow zigzag pullbacks in order to position in-trend plays.... ? ...and yet, that's exactly what would have worked best in the skyrocketing TF contract. And along the way of the 1st Frame moon launch, I ignored all those in favor of counter-trend fades, which initially got me in the hole, and required hard work to just dig out of. The other mistake... giving up too quickly when the deeper pullbacks in the laggards like NQ afforded sweet entries at clear support zones. Laggards tend to play catch up in the company of such dramatic Persistent Trend Up leadership as displayed today by TF. With such models, it's far more likely that the laggards will gather steam than the leader give up such remarkable gains. But your faith in slow moving laggards is all the more easily shaken as you watch the leader push on, making you feel even more stupid for not playing it in-trend. So, you let go of the laggard after a sweet pullback entry way too soon, and miss out on its subsequent attempts at catch-up action to new price extremes. You'd think that seeing this model play out so often would temper some of its 'unbelievable' character aspects. But no, it's fresh each time. The Analyst and the Accountant replay their same emotions every time on such days, too. Don't expect them to change. They cannot change or be changed. They cannot change or be changed. They cannot change or be changed. That's why we leave the trading to the Trader, who is assigned to execute on models at the right edge of the video screen despite the flood of disbelief and apprehension. Be the Trader. Stay disciplined.
PM Addendum:
Faced multiple stp-outs trying to find TransitionTime turns and Last Texaco's. Can at least say that I stuck to Plan and traded the Plan, but the Plan failed to accommodate the action. Looking forward to manana for some fresh challenges....
Short 2 YM 16348, 16348, +7, +17
Long 2 YM 16322, 16324, +7, +20
Short 1 TF 1200.0, -1.4
Short 2 NQ 3715.75, 3715.75, -1.0, -1.0
Short 1 TF 1203.2, -1.4
Short 1 TF 1203.6, +2.8
Short 1 TF 1204.6, -1.4
Short 2 TF 1206.3, 1206.0, -0.1, +0.5
Short 2 TF 1206.9, 1206.6, +1.0, -0.4
Short 2 TF 1206.9, 1207.1, -0.6, -0.4
Short 2 TF 1207.5, 1207.7, +1.2, +1.0
Short 1 NQ 3719.25, +3.0
Long 2 NQ 3714.0, 3714.25, +1.5, +2.0
Short 1 TF 1208.9, -0.5
PM trades:
Long 2 NQ 3712.75, 3712.75, +2.0, -1.25
Long 1 TF 1207.0, -0.0
Long 2 NQ 3710.25, 3709.75, -2.0, -1.0
Long 1 TF 1205.3, -0.3
Short 2 TF 1205.0, 1205.0, +0.4, -0.4
Total YM +51
Total NQ +2.25
Total TF -0.0
Most notable trait of the Persistent Trend Day....? They're unbelievable. How could anyone get in sync with such shallow zigzag pullbacks in order to position in-trend plays.... ? ...and yet, that's exactly what would have worked best in the skyrocketing TF contract. And along the way of the 1st Frame moon launch, I ignored all those in favor of counter-trend fades, which initially got me in the hole, and required hard work to just dig out of. The other mistake... giving up too quickly when the deeper pullbacks in the laggards like NQ afforded sweet entries at clear support zones. Laggards tend to play catch up in the company of such dramatic Persistent Trend Up leadership as displayed today by TF. With such models, it's far more likely that the laggards will gather steam than the leader give up such remarkable gains. But your faith in slow moving laggards is all the more easily shaken as you watch the leader push on, making you feel even more stupid for not playing it in-trend. So, you let go of the laggard after a sweet pullback entry way too soon, and miss out on its subsequent attempts at catch-up action to new price extremes. You'd think that seeing this model play out so often would temper some of its 'unbelievable' character aspects. But no, it's fresh each time. The Analyst and the Accountant replay their same emotions every time on such days, too. Don't expect them to change. They cannot change or be changed. They cannot change or be changed. They cannot change or be changed. That's why we leave the trading to the Trader, who is assigned to execute on models at the right edge of the video screen despite the flood of disbelief and apprehension. Be the Trader. Stay disciplined.
PM Addendum:
Faced multiple stp-outs trying to find TransitionTime turns and Last Texaco's. Can at least say that I stuck to Plan and traded the Plan, but the Plan failed to accommodate the action. Looking forward to manana for some fresh challenges....
Mon Mar 3 Trades & Journal
20140303
Short 2 TF 1173.9, 1174.0, +1.3, +0.5
Short 1 TF 1174.8, +1.7
PM trades:
Short 1 TF 1173.4, -0.3
Short 2 TF 1173.9, 1173.3, +1.5, +0.5
Total TF +5.2
It's best to trade with a profit goal for the day, and/or for the frame. Mine is 5 pts TF equivalent for the frame or the day. In early going when you hit, say, 3 pts in the TF, you can feel a mix of pressure to get the next trade right and angst over losing what you have. Going from +3 in the early going down to +1 while trying to get up to +5 is a discouraging thing. The Accountant speaks up loudly at such moments, and shouts out "You idiot!!" Today, I could hear those words from him even before he had to say it, and as a result missed a Trade Entry Model in the NQ that would have made my goals in the 1st Frame without even having to come back and trade again the Last Frame. After that, no other action fit my list of entry models. ....until the PM frame arrived. I'd like to say it was patience, but in truth, I simply came back to the screen and it was there talking to me.... Stepping away from the screen for while is not usually a bad idea, even if you miss a trade while you're gone.... Stay focused.
Short 2 TF 1173.9, 1174.0, +1.3, +0.5
Short 1 TF 1174.8, +1.7
PM trades:
Short 1 TF 1173.4, -0.3
Short 2 TF 1173.9, 1173.3, +1.5, +0.5
Total TF +5.2
It's best to trade with a profit goal for the day, and/or for the frame. Mine is 5 pts TF equivalent for the frame or the day. In early going when you hit, say, 3 pts in the TF, you can feel a mix of pressure to get the next trade right and angst over losing what you have. Going from +3 in the early going down to +1 while trying to get up to +5 is a discouraging thing. The Accountant speaks up loudly at such moments, and shouts out "You idiot!!" Today, I could hear those words from him even before he had to say it, and as a result missed a Trade Entry Model in the NQ that would have made my goals in the 1st Frame without even having to come back and trade again the Last Frame. After that, no other action fit my list of entry models. ....until the PM frame arrived. I'd like to say it was patience, but in truth, I simply came back to the screen and it was there talking to me.... Stepping away from the screen for while is not usually a bad idea, even if you miss a trade while you're gone.... Stay focused.
Fri Feb 28 Trades & Journal
20140228
Short 2 TF 1189.2, 1189.3, +1.7, +0.5
Short 2 YM 16313, 16315, -5, -2
Short 1 TF 1190.1, -0.0
Short 1 NQ 3719.0, -0.25
Short 1 TF 1192.9, -0.5
Short 2 TF 1193.4, 1193.3, +1.0, +0.5
Long 1 NQ 3716.0, +3.0
Long 1 NQ 3714.25, -1.0
Long 1 TF 1190.0, -0.5
Long 2 TF 1189.9, 1189.9, -0.1, -0.2
Total YM -7
Total NQ +1.75
Total TF +2.4
Monthly Totals Feb 2014
Total ES +1.75
Total YM +127
Total NQ +51.75
Total TF +52.4
Did considerably better in Jan than Feb. Made a number of mistakes in February trading, but not really much more than usual. A lot more dramatic divergences in these last few weeks than normal, but it's pointless to blame the market for one's P&L outcome. The market just is. It's our job to find and include Trade Entry Models that work in all markets, and to execute a plan regardless of our 'read' on market action. Today, for example, failed to hold onto the short at the HOD simply because I let the whippy action shake my patience. Stay patient. Sometimes it's more important to stick with the position when the trade model is right regardless of our apprehensions as to it impending success or failure. Let the market decide what it wants. Be the Trader. Stay discipline.
Short 2 TF 1189.2, 1189.3, +1.7, +0.5
Short 2 YM 16313, 16315, -5, -2
Short 1 TF 1190.1, -0.0
Short 1 NQ 3719.0, -0.25
Short 1 TF 1192.9, -0.5
Short 2 TF 1193.4, 1193.3, +1.0, +0.5
Long 1 NQ 3716.0, +3.0
Long 1 NQ 3714.25, -1.0
Long 1 TF 1190.0, -0.5
Long 2 TF 1189.9, 1189.9, -0.1, -0.2
Total YM -7
Total NQ +1.75
Total TF +2.4
Monthly Totals Feb 2014
Total ES +1.75
Total YM +127
Total NQ +51.75
Total TF +52.4
Did considerably better in Jan than Feb. Made a number of mistakes in February trading, but not really much more than usual. A lot more dramatic divergences in these last few weeks than normal, but it's pointless to blame the market for one's P&L outcome. The market just is. It's our job to find and include Trade Entry Models that work in all markets, and to execute a plan regardless of our 'read' on market action. Today, for example, failed to hold onto the short at the HOD simply because I let the whippy action shake my patience. Stay patient. Sometimes it's more important to stick with the position when the trade model is right regardless of our apprehensions as to it impending success or failure. Let the market decide what it wants. Be the Trader. Stay discipline.
Thur Feb 27 Trade Summary
20140227
Short 2 TF 1180.5, 1180.5, +0.5, +2.2
Short 1 NQ 3683.5, +4.0
Short 1 YM 16199, +14
Short 1 TF 1180.3, +1.2
Total NQ +4.0
Total YM +14
Total TF +3.9
Short 2 TF 1180.5, 1180.5, +0.5, +2.2
Short 1 NQ 3683.5, +4.0
Short 1 YM 16199, +14
Short 1 TF 1180.3, +1.2
Total NQ +4.0
Total YM +14
Total TF +3.9
Wed Feb 26 Trades & Journal
20140226
PM Trades:
Short 3 YM 16173, 16176, 16177, +14, +7, +7
Total YM +28
Was absent from the 1st frame action, NinjaTrader sponsored webinar. #4.
PM Trades:
Short 3 YM 16173, 16176, 16177, +14, +7, +7
Total YM +28
Was absent from the 1st frame action, NinjaTrader sponsored webinar. #4.
Tues Feb 25 Trades & Journal
20140225
Short 2 TF 1172.8, 1172.7, +0.5, +1.4
Long 2 NQ 3678.0, 3677.25, -2.0, -1.0
Short 1 TF 1170.9, +1.4
Long 1 TF 1170.1, -0.1
Long 1 TF 1169.8, -0.8
Long 1 TF 1169.3, -0.7
Short 1 TF 1168.6, -0.6
Short 1 TF 1171.5, +1.2
Short 1 TF 1172.9, -0.5
PM Trades
Long 4 TF 1172.6, 1172.6, 1173.0, 1172.6, +0.7, +1.0, -0.0, +1.2
Total NQ -3.0
Total TF +4.7
I let myself trade outside my plan once in the 1st Frame just after the news, when the TTI momentum gauge should have filtered a stp-n-rev out of consideration. This was simply weakness and perhaps a lapse in focus. Since an earlier stp-n-rev to short worked out just higher up, I let go my guard and got cockey with a strategy that I've had so much trouble implementing, but at a place at the 2nd occurrence when better focus and discipline would have deterred me. This is what trading is all about. Total focus and adherence to the Plan. Good for me that a classic Trade Plan setup in the Midday Frame just after the Noon Hour that paid off well and brought me in towards the minimum daily goal--something last week's trading failed to accomplish. Stay focused....
Short 2 TF 1172.8, 1172.7, +0.5, +1.4
Long 2 NQ 3678.0, 3677.25, -2.0, -1.0
Short 1 TF 1170.9, +1.4
Long 1 TF 1170.1, -0.1
Long 1 TF 1169.8, -0.8
Long 1 TF 1169.3, -0.7
Short 1 TF 1168.6, -0.6
Short 1 TF 1171.5, +1.2
Short 1 TF 1172.9, -0.5
PM Trades
Long 4 TF 1172.6, 1172.6, 1173.0, 1172.6, +0.7, +1.0, -0.0, +1.2
Total NQ -3.0
Total TF +4.7
I let myself trade outside my plan once in the 1st Frame just after the news, when the TTI momentum gauge should have filtered a stp-n-rev out of consideration. This was simply weakness and perhaps a lapse in focus. Since an earlier stp-n-rev to short worked out just higher up, I let go my guard and got cockey with a strategy that I've had so much trouble implementing, but at a place at the 2nd occurrence when better focus and discipline would have deterred me. This is what trading is all about. Total focus and adherence to the Plan. Good for me that a classic Trade Plan setup in the Midday Frame just after the Noon Hour that paid off well and brought me in towards the minimum daily goal--something last week's trading failed to accomplish. Stay focused....
Mon Feb 24 Trades & Journal
20140224
Short 4 TF 1171.1, 1171.3, 1171.3, 1171.3, +0.9, +0.5, +0.5, +0.5
Short 1 TF 1173.0, -0.5
Short 2 TF 1174.7, 1175.0, -0.7, -0.4
Short 2 NQ 3697.75, 3798.25, -0.5, -1.0
Short 3 TF 1177.9, 1178.3, 1179.0, -1.5, -0.1, +0.5
PM Trades:
Long 2 NQ 3694.5, 3694.5, +2.0, +2.0
Long 1 TF 1177.0, +0.8
Total NQ +2.5
Total TF +0.5
Persistent Trend action is the most difficult to trade. In the early going price action is associated more with grinds and shallow pullbacks then nice fat swings. As this has always been my worst day model to find trades in, I am often grateful to walk away without a loss, and today was no exception. I did take two Last Chance Texaco longs in PM trading, but the TF payoff was paltry, and I exited the NQ way too soon to capture its full excursion. And other trade opps did appear, but while I was away from the screen. We'll look for better opps later in the week. Stay focused.
Short 4 TF 1171.1, 1171.3, 1171.3, 1171.3, +0.9, +0.5, +0.5, +0.5
Short 1 TF 1173.0, -0.5
Short 2 TF 1174.7, 1175.0, -0.7, -0.4
Short 2 NQ 3697.75, 3798.25, -0.5, -1.0
Short 3 TF 1177.9, 1178.3, 1179.0, -1.5, -0.1, +0.5
PM Trades:
Long 2 NQ 3694.5, 3694.5, +2.0, +2.0
Long 1 TF 1177.0, +0.8
Total NQ +2.5
Total TF +0.5
Persistent Trend action is the most difficult to trade. In the early going price action is associated more with grinds and shallow pullbacks then nice fat swings. As this has always been my worst day model to find trades in, I am often grateful to walk away without a loss, and today was no exception. I did take two Last Chance Texaco longs in PM trading, but the TF payoff was paltry, and I exited the NQ way too soon to capture its full excursion. And other trade opps did appear, but while I was away from the screen. We'll look for better opps later in the week. Stay focused.
Fri Feb 21 Trades & Journal
20140221
Short 2 TF 1162.2, 1161.8, -0.5, +0.5
Short 1 NQ 3681.75, -2.0
Short 3 NQ 3683.75, 3683.75, 3685.0, -3.0, -3.0, +2.0
Short 3 TF 1164.0, 1164.3, 1164.3, +1.5, +0.5, +0.5
Long 2 NQ 3680.0, 3678.5, -0.0, +2.0
Long 1 NQ 3678.75, -1.0
Long 2 YM 16118, 16118, +7, -5
Long 1 TF 1161.6, +2.0
Total NQ -5.0
Total YM +2
Total TF +4.5
About the best thing I can say about today's trades was the recognition that even though the last long in the TF contract was just shy of a completed entry model, the other 3 contracts were all giving buy signals, allowing me to 'borrow' those and trade in the TF. And it was that trade only that pushed me on near the daily profit goal. In general, my trading was not good this week. The trades were there, alright; but I wasn't. Am reviewing all the great breakout trades I balked at, and will make further resolve to spot them and go for them as they appear at the right edge of my video.
Short 2 TF 1162.2, 1161.8, -0.5, +0.5
Short 1 NQ 3681.75, -2.0
Short 3 NQ 3683.75, 3683.75, 3685.0, -3.0, -3.0, +2.0
Short 3 TF 1164.0, 1164.3, 1164.3, +1.5, +0.5, +0.5
Long 2 NQ 3680.0, 3678.5, -0.0, +2.0
Long 1 NQ 3678.75, -1.0
Long 2 YM 16118, 16118, +7, -5
Long 1 TF 1161.6, +2.0
Total NQ -5.0
Total YM +2
Total TF +4.5
About the best thing I can say about today's trades was the recognition that even though the last long in the TF contract was just shy of a completed entry model, the other 3 contracts were all giving buy signals, allowing me to 'borrow' those and trade in the TF. And it was that trade only that pushed me on near the daily profit goal. In general, my trading was not good this week. The trades were there, alright; but I wasn't. Am reviewing all the great breakout trades I balked at, and will make further resolve to spot them and go for them as they appear at the right edge of my video.
Thurs Feb 20 Trades & Journal
20140220
Long 1 TF 1149.5, -1.4
Long 2 TF 1148.6, 1148.6, -0.6, -0.6
short 1 TF 1148.0, -0.6
Long 2 NQ 3647.5, 3648.0, -1.0, +2.0
Long 2 TF 1147.90, 1148.0, -0.7, +0.5
Long 1 NQ 3647.25, -1.5
Long 2 TF 1147.7, 1147.4, -0.5, -0.7
Long 2 TF 1145.8, 1146.0, +3.0, +0.5
Short 2 TF 1151.2, 1151.1, +0.5, -0.2
Short 2 TF 1152.2, 1152.7, -1.0, -0.4
Short 2 TF 1155.8, 1155.9, +0.5, -0.6
Short 3 TF 1156.3, 1156.4, 1156.4, -0.4, +0.5, +0.5
Short 2 TF 1156.8, 1157.0, +1.0, +0.5
Total NQ -0.5
Total TF -0.2
Preparedness is critical at the Opening each day. A number of ORB breakout plays are worthy of Trade Plan inclusion, but it does little good to have them so listed if I'm unprepared to call the trade in the chat room and get my entry orders positioned accordingly. And today, an early NQ short would have put me ahead into the pre-Philly Fed setups long before. I will credit some persistence on my part to reposition after the pre-Philly Fed trades failed, as an immediate Bad-News-Buy Opp was posted and taken successfully. Thereafter, my failings were a TF inflection breakout that was simply too skeptical to take, which cost me an important profit, and later a well time short at the end-of-frame TF high, which I lost patience on and failed to benefit from its full excursion. These three were critical errors, and because of them I only tread water all morning. Be settled and ready at the ORB. Have the YM, NQ and TF charts aligned and visible and enlarged to easy-viewing scale. See the model, take the trade. As for the inflection, this one deserves both study and memorization. I have failed at this very inflection breakout trade many times, usually because I simply believed that the near-peaked momentum was too big a caution to engage with it. But often on such 2nd Trend inflections, the final spurt of momentum is the most powerful. I need to get this breakout trade into my model, and executed on a consistent basis going forward. No more balking if it fitst the entry model. And as for the last mistake, that of exiting too soon from being short so well into the 1st Frame HOD, it comes of an unwillingness to give up the piece of profit that keeps my day at breakeven, after returning several times to negative territory as the shot clock winds down on my 1st frame entry trade initiation limitations. For this, I am simply suffering regrets, not true recrimination. As an unsuccessful day's trading that gets back to b/e at the self-imposed time limits elapse is really no shame. Regain focus. Be prepared.
Long 1 TF 1149.5, -1.4
Long 2 TF 1148.6, 1148.6, -0.6, -0.6
short 1 TF 1148.0, -0.6
Long 2 NQ 3647.5, 3648.0, -1.0, +2.0
Long 2 TF 1147.90, 1148.0, -0.7, +0.5
Long 1 NQ 3647.25, -1.5
Long 2 TF 1147.7, 1147.4, -0.5, -0.7
Long 2 TF 1145.8, 1146.0, +3.0, +0.5
Short 2 TF 1151.2, 1151.1, +0.5, -0.2
Short 2 TF 1152.2, 1152.7, -1.0, -0.4
Short 2 TF 1155.8, 1155.9, +0.5, -0.6
Short 3 TF 1156.3, 1156.4, 1156.4, -0.4, +0.5, +0.5
Short 2 TF 1156.8, 1157.0, +1.0, +0.5
Total NQ -0.5
Total TF -0.2
Preparedness is critical at the Opening each day. A number of ORB breakout plays are worthy of Trade Plan inclusion, but it does little good to have them so listed if I'm unprepared to call the trade in the chat room and get my entry orders positioned accordingly. And today, an early NQ short would have put me ahead into the pre-Philly Fed setups long before. I will credit some persistence on my part to reposition after the pre-Philly Fed trades failed, as an immediate Bad-News-Buy Opp was posted and taken successfully. Thereafter, my failings were a TF inflection breakout that was simply too skeptical to take, which cost me an important profit, and later a well time short at the end-of-frame TF high, which I lost patience on and failed to benefit from its full excursion. These three were critical errors, and because of them I only tread water all morning. Be settled and ready at the ORB. Have the YM, NQ and TF charts aligned and visible and enlarged to easy-viewing scale. See the model, take the trade. As for the inflection, this one deserves both study and memorization. I have failed at this very inflection breakout trade many times, usually because I simply believed that the near-peaked momentum was too big a caution to engage with it. But often on such 2nd Trend inflections, the final spurt of momentum is the most powerful. I need to get this breakout trade into my model, and executed on a consistent basis going forward. No more balking if it fitst the entry model. And as for the last mistake, that of exiting too soon from being short so well into the 1st Frame HOD, it comes of an unwillingness to give up the piece of profit that keeps my day at breakeven, after returning several times to negative territory as the shot clock winds down on my 1st frame entry trade initiation limitations. For this, I am simply suffering regrets, not true recrimination. As an unsuccessful day's trading that gets back to b/e at the self-imposed time limits elapse is really no shame. Regain focus. Be prepared.
Wed Feb 19 Trades & Journal
20140219
Short 1 NQ 36.76.75, +2.0
Long 1 TF 1156.5, +1.5
Short 2 YM 16153, 16153, +7, +7
Short 1 TF 1159.7, -0.5
Short 1 TF 1160.4, -0.5
Long 2 TF 1160.9, 1160.9, +0.4, +0.6
Short 1 ES 1844.0, +2.0
Total ES +2.0
Total YM +14
Total NQ +2.0
Total TF +1.5
Some days are better for trading than others. The signals are conflicted and the excursions are small. A profitable day that accepts the outcome is far better than forcing more trades or stop-outs with a mental attitude that wants the markets to be something other than what they are, this day, this hour, at this juncture. Keep to the Trade Plan.
Short 1 NQ 36.76.75, +2.0
Long 1 TF 1156.5, +1.5
Short 2 YM 16153, 16153, +7, +7
Short 1 TF 1159.7, -0.5
Short 1 TF 1160.4, -0.5
Long 2 TF 1160.9, 1160.9, +0.4, +0.6
Short 1 ES 1844.0, +2.0
Total ES +2.0
Total YM +14
Total NQ +2.0
Total TF +1.5
Some days are better for trading than others. The signals are conflicted and the excursions are small. A profitable day that accepts the outcome is far better than forcing more trades or stop-outs with a mental attitude that wants the markets to be something other than what they are, this day, this hour, at this juncture. Keep to the Trade Plan.
Tues Feb 18 Trades & Journal
20140218
Short 4 TF 1153.6, 1153.6, 1154.3, 1154.1, +0.5, -0.8, +1.0, +0.5
Short 1 TF 1153.9, +2.0
Short 3 TF 1151.6, 1151.6, 1152.0, -0.5, -1.1, -0.6
Short 2 TF 1152.0, 1153.0, -0.1, +1.0
Short 3 TF 1153.3, 1153.3,1153.3, +0.5, +0.5, -0.4
Short 3 TF 1155.1, 1155.2, 1155.3, -0.6, +0.5, +0.5
Short 2 TF 1155.4, 1155.5, -0.9, -0.8
Short 3 TF 1157.3, 1158.1, 1158.0, -1.4, -0.6, -0.7
PM Trades:
Long 2 TF 1156.6, 1156.1, +1.0, +0.5
Total TF -0.0
It seems an inconsistency on the one hand to use relative positions of all four contracts against each other with such classical tools as divergence to include in trade entry, and then on the other hand, to acknowledge that sometimes, especially with the Russell 2k, one contract can act so independently of the others. Such was clearly the case today. But my poor performance is no fault other than my own, as the TF displayed a perfect bull pre-breakout pause pattern today that would have easily launched a position into the 2nd leg of the Persistent Trend Up... had I not balked at the blatant divergence. I found myself too committed to the short at that time, and have no other explanation of my repeated attempts to short the TF after that successful breakout other than a stubborn, get-even kind of revenge trading. Don't allow an exhibition of stubborn, get-even kind of revenge to infect your trading. Stay disciplined. The game is not to prove you're right, and the market is wrong. The business is to wait til the right Trade Entry Model appears at the right edge of your video screen, and take the trade regardless of how you 'feel' or the trend prejudice you may be suffering from at that moment. Any reversal signal at support/resistance, can be a stop-n-reverse back into trend, if other technical model minutia are in place. Know your plan. Trade no other.
Short 4 TF 1153.6, 1153.6, 1154.3, 1154.1, +0.5, -0.8, +1.0, +0.5
Short 1 TF 1153.9, +2.0
Short 3 TF 1151.6, 1151.6, 1152.0, -0.5, -1.1, -0.6
Short 2 TF 1152.0, 1153.0, -0.1, +1.0
Short 3 TF 1153.3, 1153.3,1153.3, +0.5, +0.5, -0.4
Short 3 TF 1155.1, 1155.2, 1155.3, -0.6, +0.5, +0.5
Short 2 TF 1155.4, 1155.5, -0.9, -0.8
Short 3 TF 1157.3, 1158.1, 1158.0, -1.4, -0.6, -0.7
PM Trades:
Long 2 TF 1156.6, 1156.1, +1.0, +0.5
Total TF -0.0
It seems an inconsistency on the one hand to use relative positions of all four contracts against each other with such classical tools as divergence to include in trade entry, and then on the other hand, to acknowledge that sometimes, especially with the Russell 2k, one contract can act so independently of the others. Such was clearly the case today. But my poor performance is no fault other than my own, as the TF displayed a perfect bull pre-breakout pause pattern today that would have easily launched a position into the 2nd leg of the Persistent Trend Up... had I not balked at the blatant divergence. I found myself too committed to the short at that time, and have no other explanation of my repeated attempts to short the TF after that successful breakout other than a stubborn, get-even kind of revenge trading. Don't allow an exhibition of stubborn, get-even kind of revenge to infect your trading. Stay disciplined. The game is not to prove you're right, and the market is wrong. The business is to wait til the right Trade Entry Model appears at the right edge of your video screen, and take the trade regardless of how you 'feel' or the trend prejudice you may be suffering from at that moment. Any reversal signal at support/resistance, can be a stop-n-reverse back into trend, if other technical model minutia are in place. Know your plan. Trade no other.
Fri Feb 14 Trades & Journal
20140214
Long 2 NQ 3644.75, 3644.75, 3642.75, 3642.75, +1.0, +1.0, +2.0, +4.0
Long 3 NQ 3641.75, 3641.75, 3641.75, +2.0, +3.0, +4.5
Short 2 TF 1144.8, 1145.2, +0.5, +0.5
Long 1 TF, 1143.6, 1143.6, +1.2
Long 2 TF 1143.8, 1143.9, -0.4, +0.1
Long 1 TF 1143.3, -0.5
Long 2 TF 1140.4, 1140.4, +1.0, -0.2
Long 1 TF 1140.5, +1.8
Total NQ +17.5
Total TF +4.0
To the intraday trader, big swings provide far better opportunities than the Persistent Trend Day we had yesterday. I have a trade plan for Persistent Trend Days, but I have trouble getting that hat on when the signs start showing up, and yesterday I let myself start the day infected with a trend prejudice. Stay focused. Trade the day that appears on your screen today. When it appears as a surprise and emotionally jarring, then it probably is appearing that way to a large majority of traders too, who like yourself, will probably spend the day fighting the trend instead of being in sync with it. Get in sync. When the signals are there, add to them the emotional appraisal that this day's action is a complete surprise and therefore your emotions themselves are a contrary opinion worth adding to your entry models. The market is closed Monday. Happy Birthday, George. We really miss you and Presidents like you, .....more than ever these days....
Long 2 NQ 3644.75, 3644.75, 3642.75, 3642.75, +1.0, +1.0, +2.0, +4.0
Long 3 NQ 3641.75, 3641.75, 3641.75, +2.0, +3.0, +4.5
Short 2 TF 1144.8, 1145.2, +0.5, +0.5
Long 1 TF, 1143.6, 1143.6, +1.2
Long 2 TF 1143.8, 1143.9, -0.4, +0.1
Long 1 TF 1143.3, -0.5
Long 2 TF 1140.4, 1140.4, +1.0, -0.2
Long 1 TF 1140.5, +1.8
Total NQ +17.5
Total TF +4.0
To the intraday trader, big swings provide far better opportunities than the Persistent Trend Day we had yesterday. I have a trade plan for Persistent Trend Days, but I have trouble getting that hat on when the signs start showing up, and yesterday I let myself start the day infected with a trend prejudice. Stay focused. Trade the day that appears on your screen today. When it appears as a surprise and emotionally jarring, then it probably is appearing that way to a large majority of traders too, who like yourself, will probably spend the day fighting the trend instead of being in sync with it. Get in sync. When the signals are there, add to them the emotional appraisal that this day's action is a complete surprise and therefore your emotions themselves are a contrary opinion worth adding to your entry models. The market is closed Monday. Happy Birthday, George. We really miss you and Presidents like you, .....more than ever these days....
Thur Feb 13 Trades & Journal
20140213
Short 3 TF 1123.8, 1123.6, 1124.6, -1.4, ,-1.4, +0.5
Short 4 NQ 3616.75, 3616.75, 3617.75, -2.5, -2.5, +2, -2.0
Short 3 YM 15875, 15875, 15874, +7, -5, -5
Short 2 TF 1128.0, 1127.9, +0,5, -0.5
Short 1 NQ 3624.75, -3.0
Short 2 TF 1130.2, 1130.2, -0.5, -0.5
Short 1 TF 1130.8, -0.5
Short 4 TF 1132.7, 1132.7, 1132.5, 1132.5, +2.0, +1.0, +1.2, +1.0
Long 1 TF 1129.5, +1.2
Short 1 TF 1135.5, -0.1
PM Trades
Short 2 TF 1145.0, 1144.8, +0.4, -0.5
Total YM -3
Total NQ -8.0
Total TF +2.4
The Persistent Trend Day Up can be the hardest day to trade.... unless you got the memo it was coming, then it's a piece of cake. Guess I missed the fax, because I started off fading this against a series of resistance numbers with bearish trend prejudice, and didn't dig my way out till a major pullback about half way to the whole thing. Perhaps even bigger failure was when a pullback buy opp was in hand, I dumped it quickly thinking the top was in, and that critical mistake kept me from participating in the unbelievable 3rd leg... at least it was unbelievable to me. Quitting after digging oneself out is no shame, but approaching any day with such serious trend prejudice is usually a critical mistake. The PM session offered a similar pullback, but as a bigger correction was so overdue, I balked when it failed to reach a better support number. The persistence in trend such days display and the ensuing pain from losing trades is really not the most annoying aspect to the Trader's psyche. It's actually the amazing profits offered that you failed to participate in. We'll see how things go tomorrow. Be alert. Pay attention to the Day Model signals. Examine your head for trend prejudice, and always consider the possibilities that you are wrong when the signs appear.
Short 3 TF 1123.8, 1123.6, 1124.6, -1.4, ,-1.4, +0.5
Short 4 NQ 3616.75, 3616.75, 3617.75, -2.5, -2.5, +2, -2.0
Short 3 YM 15875, 15875, 15874, +7, -5, -5
Short 2 TF 1128.0, 1127.9, +0,5, -0.5
Short 1 NQ 3624.75, -3.0
Short 2 TF 1130.2, 1130.2, -0.5, -0.5
Short 1 TF 1130.8, -0.5
Short 4 TF 1132.7, 1132.7, 1132.5, 1132.5, +2.0, +1.0, +1.2, +1.0
Long 1 TF 1129.5, +1.2
Short 1 TF 1135.5, -0.1
PM Trades
Short 2 TF 1145.0, 1144.8, +0.4, -0.5
Total YM -3
Total NQ -8.0
Total TF +2.4
The Persistent Trend Day Up can be the hardest day to trade.... unless you got the memo it was coming, then it's a piece of cake. Guess I missed the fax, because I started off fading this against a series of resistance numbers with bearish trend prejudice, and didn't dig my way out till a major pullback about half way to the whole thing. Perhaps even bigger failure was when a pullback buy opp was in hand, I dumped it quickly thinking the top was in, and that critical mistake kept me from participating in the unbelievable 3rd leg... at least it was unbelievable to me. Quitting after digging oneself out is no shame, but approaching any day with such serious trend prejudice is usually a critical mistake. The PM session offered a similar pullback, but as a bigger correction was so overdue, I balked when it failed to reach a better support number. The persistence in trend such days display and the ensuing pain from losing trades is really not the most annoying aspect to the Trader's psyche. It's actually the amazing profits offered that you failed to participate in. We'll see how things go tomorrow. Be alert. Pay attention to the Day Model signals. Examine your head for trend prejudice, and always consider the possibilities that you are wrong when the signs appear.
Wed Feb 12 Trade Summary
20140212
Short 2 TF 1132.9, 1132.7, +0.5, -0,3
Short 2 TF 1135.3, 1135.4, +1.0, +0.5
Short 2 YM 16003, 16002, +7, +17
Long 2 YM 15964, 15965, -4, -5
Long 2 YM 15955, 19956, -5, -6
Long 3 YM 15952, 15952, 15954, +7, +11, -0
Long 3 TF 1130.6, 1130.6, 1129.6, -1.4, -1.4, -0.6
Long 2 YM 15930, 15930, +7, +11
Total YM +40
Total TF -1.7
Short 2 TF 1132.9, 1132.7, +0.5, -0,3
Short 2 TF 1135.3, 1135.4, +1.0, +0.5
Short 2 YM 16003, 16002, +7, +17
Long 2 YM 15964, 15965, -4, -5
Long 2 YM 15955, 19956, -5, -6
Long 3 YM 15952, 15952, 15954, +7, +11, -0
Long 3 TF 1130.6, 1130.6, 1129.6, -1.4, -1.4, -0.6
Long 2 YM 15930, 15930, +7, +11
Total YM +40
Total TF -1.7
Tues Feb 11 Trade Summary
20140211
Short 2 TF 1120.1, 1120.2, +1.2, +0.5
Short 1 NQ 3592.5, +3.75
Short 2 TF 1123.9, 1124.2, +1.1, +0.5
Short 1 TF 1125.8, -0.4
Short 1 TF 1128.8, -0.2
Total NQ +3.75
Total TF +2.7
Short 2 TF 1120.1, 1120.2, +1.2, +0.5
Short 1 NQ 3592.5, +3.75
Short 2 TF 1123.9, 1124.2, +1.1, +0.5
Short 1 TF 1125.8, -0.4
Short 1 TF 1128.8, -0.2
Total NQ +3.75
Total TF +2.7
Mon Feb 10 Trade Summary
20140210
Short 2 NQ 3569.0, 3569.0, -2.0, -2.0
Short 3 YM 15734, 15734, 15730, +7, +10, +22,
Short 2 TF 1110.5, 1110.4, +0.5, +1.2
Long 2 NQ 3564.50, 3564.25, -1.0, +2.0
Long 2 NQ 3564.0, +3.0
Long 2 TF 1105.8, 1105.5, -0.5, -0.3,
Long 1 TF 1105.9, +1.0
Long 2 NQ 3559.75, 3560.0, +2.0, +3.0
Total YM +39
Total NQ +5.0
Total TF +1.9
Fri Feb 7 Trades & Journal
20140207
Short 1 TF 1109.1, +1.2
Short 1 TF 1109.4, +1.5
Long 2 YM 15625, 15625, +7, -7
Long 2 TF 1103.7, 1103.9, +1.6, +0.5
Long 1 TF 1102.1, -0.5
Long 1 TF 1100.7, +1.3
Total YM -0
Total TF +5.6
Trading at the edges requires a different mindset than many traders bring to their Plan. Floor traders like the edges, and I'm told I think like one. I trained with two who were indeed very talented. No doubt some of that rubbed off. But the better profits from trading at the edges come from the discipline of holding a runner and extending that hold into the excursion of the next Time Marker. That would indeed improve my trading immensely... ....but also require longer commitment to the screen. There's a trade off to every adjustment. ...a good weekend to all...
Short 1 TF 1109.1, +1.2
Short 1 TF 1109.4, +1.5
Long 2 YM 15625, 15625, +7, -7
Long 2 TF 1103.7, 1103.9, +1.6, +0.5
Long 1 TF 1102.1, -0.5
Long 1 TF 1100.7, +1.3
Total YM -0
Total TF +5.6
Trading at the edges requires a different mindset than many traders bring to their Plan. Floor traders like the edges, and I'm told I think like one. I trained with two who were indeed very talented. No doubt some of that rubbed off. But the better profits from trading at the edges come from the discipline of holding a runner and extending that hold into the excursion of the next Time Marker. That would indeed improve my trading immensely... ....but also require longer commitment to the screen. There's a trade off to every adjustment. ...a good weekend to all...
Thur Feb 6 Trades & Journal
Trade Summary
20140206
Long 2 TF 1196.4, 1196.3, +0.5, +1.5
Short 1 TF 1100.8, +1.1
Long 2 TF 1198.8, 1198.9, -0.1, +0.5
Long 1 TF 1198.4, -0.2
Long 1 TF 1198.4, +1.2
Short 2 TF 1102.0, 1102.0, -0.2, -0.7
Short 2 NQ 3498.5, 3498.25, +2.0, +5.0
Short 2 TF 1104.7, 1104.6, +1.0, +1.5
Total NQ +7.0
Total TF +6.1
The Persistent Trend Day Up model is often devoid of big swings and extended pullback buy opportunities. Not so today in the TF contract, as the early grinding characteristic so hard to play inflicted only the ES, YM and NQ. ....so maybe this isn't a Persistent Trend Day Up for the TF.... The buy signals that hit the daily frame reversals yesterday could, however, stick for several days in this budding bear, and who knows, may prove to be just the base of another leg up in this endless bull market, the sell signals at the top in the daily frame this time notwithstanding. Today I balked at an excellent bull breakout play that is perfect for this day model, and opted instead for buying pullbacks and fading extremes. That can work well on any day where there are actually swings, but for a potential Persistent Trend Day Up model, that tactic's success today was nothing more than luck. I should have prepared myself better for the breakout play, as rehearsal can help to over come such blocks. Stay disciplined.
20140206
Long 2 TF 1196.4, 1196.3, +0.5, +1.5
Short 1 TF 1100.8, +1.1
Long 2 TF 1198.8, 1198.9, -0.1, +0.5
Long 1 TF 1198.4, -0.2
Long 1 TF 1198.4, +1.2
Short 2 TF 1102.0, 1102.0, -0.2, -0.7
Short 2 NQ 3498.5, 3498.25, +2.0, +5.0
Short 2 TF 1104.7, 1104.6, +1.0, +1.5
Total NQ +7.0
Total TF +6.1
The Persistent Trend Day Up model is often devoid of big swings and extended pullback buy opportunities. Not so today in the TF contract, as the early grinding characteristic so hard to play inflicted only the ES, YM and NQ. ....so maybe this isn't a Persistent Trend Day Up for the TF.... The buy signals that hit the daily frame reversals yesterday could, however, stick for several days in this budding bear, and who knows, may prove to be just the base of another leg up in this endless bull market, the sell signals at the top in the daily frame this time notwithstanding. Today I balked at an excellent bull breakout play that is perfect for this day model, and opted instead for buying pullbacks and fading extremes. That can work well on any day where there are actually swings, but for a potential Persistent Trend Day Up model, that tactic's success today was nothing more than luck. I should have prepared myself better for the breakout play, as rehearsal can help to over come such blocks. Stay disciplined.
Wed Feb 5 Trades & Journal
20140205
Short 2 TF 1093.1, 1093.1, -0.5, -0.5
Short 2 TF 1092.2, 1092.2, +1.1, +2.0
Long 1 ES 1740.5, -1.5
Long 2 TF 1088.7, 1088.7, +1.0, 0.5
Long 2 NQ 3438.0, 3438.0, -2.0, -2.0
Long 2 NQ 3437.0, 3437.0, +2.0, +10.0
Long 2 NQ 3430.5, 3430.5, +2.0, -2.0
Long 1 TF 1185.5, -0.5
Long 2 TF 1084.2, 1084.2, +1.0, -0.5
Long 2 NQ 3420.5, 3420.5, -2.0, -2.0
Long 2 YM 15285, 15285, +20, +20
Short 1 TF 1185.6, +1.2
Long 1 TF 1180.9, +1.2
Total ES -1.5
Total YM +40
Total NQ +4.0
Total TF +5.0
Persistence is such an important attribute when trading a plan. Not all the Trade Entry Models will work, and even though the model matches the structure, sometimes the volatility will take you out anyway. But the added volatility must be adjusted to work for your benefit. If the effort to get in a trade and stay in is more difficult and costs you more in stp-outs, all the more important to allow the trade targets to be extended to suit those same volatile excursions. Today, another key number from the all-session 60-min frame was key for the LOD, but the TF Trade Entry Model was incomplete. The YM, on the other hand was ready. But once in that YM trade, I I failed to show the outcome the patience to develop it deserved, and as a consequence left far too much of that excursion on the table. Stay focused.
Short 2 TF 1093.1, 1093.1, -0.5, -0.5
Short 2 TF 1092.2, 1092.2, +1.1, +2.0
Long 1 ES 1740.5, -1.5
Long 2 TF 1088.7, 1088.7, +1.0, 0.5
Long 2 NQ 3438.0, 3438.0, -2.0, -2.0
Long 2 NQ 3437.0, 3437.0, +2.0, +10.0
Long 2 NQ 3430.5, 3430.5, +2.0, -2.0
Long 1 TF 1185.5, -0.5
Long 2 TF 1084.2, 1084.2, +1.0, -0.5
Long 2 NQ 3420.5, 3420.5, -2.0, -2.0
Long 2 YM 15285, 15285, +20, +20
Short 1 TF 1185.6, +1.2
Long 1 TF 1180.9, +1.2
Total ES -1.5
Total YM +40
Total NQ +4.0
Total TF +5.0
Persistence is such an important attribute when trading a plan. Not all the Trade Entry Models will work, and even though the model matches the structure, sometimes the volatility will take you out anyway. But the added volatility must be adjusted to work for your benefit. If the effort to get in a trade and stay in is more difficult and costs you more in stp-outs, all the more important to allow the trade targets to be extended to suit those same volatile excursions. Today, another key number from the all-session 60-min frame was key for the LOD, but the TF Trade Entry Model was incomplete. The YM, on the other hand was ready. But once in that YM trade, I I failed to show the outcome the patience to develop it deserved, and as a consequence left far too much of that excursion on the table. Stay focused.
Tues Feb 4 Trades and Journal
20140204
Long 2 YM 15296, 15296, +7, +30
Short 1 TF 1096.1, -0.5
Short 2 TF 1099.6, 1099.8, -0.5 -0.5
Short 3 TF 1099.5, 1099.5, 1099.6, +0.5, -0.5, +1.2
Short 2 TF 1100.2, 1100.2, +0.5 -0.5
Short 2 NQ 3449.25, 3449.25, +2.0, +8.0
Long 3 TF 1197.8, 1197.8, 1197.6, +0.5, -0.8, +0.6
Long 1 TF 1096.10, -0.7
Long 2 TF 1094.1, 1094.3, +3.0, +1.2
Long 1 NQ 3446.0, +3.0
Long 2 TF 1196.0, 1196.0, +0.5, +1.0
Total YM +37
Total NQ +13.0
Total TF +3.5
Volatility can be your friend. Or, it can be a brutal opponent. Be sure your entry models are exacting. Today, my exits were early for the most part, because--although once in place the impulse action was tremendous--I also stepped into trades too soon in several cases and was down initially in the TF. Wait for the models to complete. On volatile days, take a breath before executing and look it over once more, it might have greater distance to go before the turn is in. Increasing stop-loss length is a temptation, but if your entry models are exact, these bigger stops will probably just cost you unnecessary capital loss where a quick stp-out would have taken you to flat and as such, put you in a place more at ease as to whether the entry model has survived intact to re enter the trade. Stay focused. A volatile day is even more demanding of your complete attention.
Long 2 YM 15296, 15296, +7, +30
Short 1 TF 1096.1, -0.5
Short 2 TF 1099.6, 1099.8, -0.5 -0.5
Short 3 TF 1099.5, 1099.5, 1099.6, +0.5, -0.5, +1.2
Short 2 TF 1100.2, 1100.2, +0.5 -0.5
Short 2 NQ 3449.25, 3449.25, +2.0, +8.0
Long 3 TF 1197.8, 1197.8, 1197.6, +0.5, -0.8, +0.6
Long 1 TF 1096.10, -0.7
Long 2 TF 1094.1, 1094.3, +3.0, +1.2
Long 1 NQ 3446.0, +3.0
Long 2 TF 1196.0, 1196.0, +0.5, +1.0
Total YM +37
Total NQ +13.0
Total TF +3.5
Volatility can be your friend. Or, it can be a brutal opponent. Be sure your entry models are exacting. Today, my exits were early for the most part, because--although once in place the impulse action was tremendous--I also stepped into trades too soon in several cases and was down initially in the TF. Wait for the models to complete. On volatile days, take a breath before executing and look it over once more, it might have greater distance to go before the turn is in. Increasing stop-loss length is a temptation, but if your entry models are exact, these bigger stops will probably just cost you unnecessary capital loss where a quick stp-out would have taken you to flat and as such, put you in a place more at ease as to whether the entry model has survived intact to re enter the trade. Stay focused. A volatile day is even more demanding of your complete attention.
Mon Feb 3 Trades & Journal
20140203
Short 1 YM 15639, -9
Long 1 NQ 3515.5, -2.0
Long 2 NQ 3512.25, 3512.25, -2.0, -2.0
Long 2 NQ 3500.5, 3500.5, -2.0, -2.0
Long 4 NQ 3498.75, 3498.7, 3498.75, 3498.75, +2.0, +2.0, +4.0, +8.25
Short 1 TF 1121.8, -0.5
Short 1 TF 1121.7, +4.0
Long 2 NQ 3491.25, 3491.75, -0.0, +2.0
Long 2 TF 1109.9, 1109.9, +0.5, +1.7
PM Trades
Short 2 TF 1193.6, 1193.8, -0.6, +0.5
Short 2 YM 15389, 15392, +2.0, +7
Total YM +18
Total NQ +8.25
Total TF +5.6
Big initial bear swoon busted through several support layers before the first turn set in. If the trade model for structure is still valid, this often requires re entry and as such can be disconcerting if stp'd out more than once positioning for it, as was the case today. However, the post news play was very solid and helped meet the 1st frame profit goals. However, a 2nd in-trend short appeared within the trade plan for the TF inflection breakdown, replete with a nice Pre-breakdown Pause Pattern. I balked at this as the familiar mental block to taking breakout trades appeared and asserted itself. There are several reasons why it important to overcome this type of block. It helps open the door for similar opportunities in the future, but just as much, it helps support the overall business that attempts to participate in these big moving trend days. It stings when you're left out of them and every trader wants to know that his methods can be applied no matter what Day Model is in play. Consider the filters of these more difficult trades. Be ready when they appear. Take the trade if the model is correct.
Addendum for PM:
The Last Chance Texaco is a trade model for late in the day on Persistent Trend Days, where pullback has recovered to a prescribed level. On some days, the market doesn't even make it that far, and weaker retracement levels can be targeted for entry. If those smaller pullback areas offer at least some resistance, it should allow you to partial out the trade and get to net break/even. After that, you let the market speak. In this case, TF bullish divergence encourage my YM short exit a bit too soon.
Short 1 YM 15639, -9
Long 1 NQ 3515.5, -2.0
Long 2 NQ 3512.25, 3512.25, -2.0, -2.0
Long 2 NQ 3500.5, 3500.5, -2.0, -2.0
Long 4 NQ 3498.75, 3498.7, 3498.75, 3498.75, +2.0, +2.0, +4.0, +8.25
Short 1 TF 1121.8, -0.5
Short 1 TF 1121.7, +4.0
Long 2 NQ 3491.25, 3491.75, -0.0, +2.0
Long 2 TF 1109.9, 1109.9, +0.5, +1.7
PM Trades
Short 2 TF 1193.6, 1193.8, -0.6, +0.5
Short 2 YM 15389, 15392, +2.0, +7
Total YM +18
Total NQ +8.25
Total TF +5.6
Big initial bear swoon busted through several support layers before the first turn set in. If the trade model for structure is still valid, this often requires re entry and as such can be disconcerting if stp'd out more than once positioning for it, as was the case today. However, the post news play was very solid and helped meet the 1st frame profit goals. However, a 2nd in-trend short appeared within the trade plan for the TF inflection breakdown, replete with a nice Pre-breakdown Pause Pattern. I balked at this as the familiar mental block to taking breakout trades appeared and asserted itself. There are several reasons why it important to overcome this type of block. It helps open the door for similar opportunities in the future, but just as much, it helps support the overall business that attempts to participate in these big moving trend days. It stings when you're left out of them and every trader wants to know that his methods can be applied no matter what Day Model is in play. Consider the filters of these more difficult trades. Be ready when they appear. Take the trade if the model is correct.
Addendum for PM:
The Last Chance Texaco is a trade model for late in the day on Persistent Trend Days, where pullback has recovered to a prescribed level. On some days, the market doesn't even make it that far, and weaker retracement levels can be targeted for entry. If those smaller pullback areas offer at least some resistance, it should allow you to partial out the trade and get to net break/even. After that, you let the market speak. In this case, TF bullish divergence encourage my YM short exit a bit too soon.
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