December 15 2009 Overlay, Trades, and Commentary

CLICK HERE FOR HD VIDEO COMMENTARY AND TRADE REVIEW 7.5 MINUTES

I had an excellent read this morning and traded in the right direction but did not get the outcome I was looking for.

I had a rare back-to-back extreme low tick stop out sequence on my two long attempts this morning.

There is not too much I could havc done about it. I knew the action would be tough as it has been the past couple weeks but am not going to start avoiding setups.

My plan has evolved to a point that when I lose it is going to be due to a contraction, channel, or deep washout occuring after I enter.

Managing my trades tighter is going to lead to occasional misses like today. It is a fair trade off.

I did a video to review today's trades.

Tomorrow is Fed day so there should be a good AM move then a grind until the announcement.