June 3 2010 Overlay and Trades

This is probably getting hard to watch this week. A series of extremely accurate projections clearly marked and described followed by some horrible management.

I had another ridiculous extreme low tick cover exit out of a big winning trade today. I was virtually low ticked out of my first entry as well.

The first entry needed tight management or large risk allowed a couple points below 1091.00. I took the cowardly way out because I just could not allow the price to push against me any further after coming off key highs.

Had I thought it through better I would have realized my premise was for congestion today which is what we got. i may not have seemed like it to most after the lunchtime move down but the volatility is high right now.

I am 0 for 3 and down 10.5 points this week. I have had several excellent entries and managed them like absolute crap. I am not even going to try to analyze it other than say it sucked completely and I need to pull my head out of my ass.

Regarding the low ticks, it is no fluke. I believe that deep down inside, my sub conscience often knows exactly what the market is doing. It is never that clear consciously but the intense training and screen time I have had has to have had an effect.

I think there is some sort of internal conflict in my trading that is acting out through these bad decisions. How can you accidentally exit on the extreme low tick when in the trade in the right direction just before 2 12+ point moves?

Extremely improbable. What am I going to do about it?

Line In The Sand Rules Start Now

1. No break evens. No exception. Ever. I take profits or lose.

2. Take bigger risk. If I am taking heat and another 2 points clears a lower or higher zone I get pot committed.

3. Do not take a trade if it is not worth losing 4 points on.

4. Execute all pull back pivot retests in the direction of the trend.

5. Stop being a coward and hold your ground. If you enter a trade stick to your conviction until the premise has clearly changed.

My plan can produce enough of a streak to quickly get back in the black. That is what I need to make happen.