Wednesday, May 22, 2013

may 22

watched /gc breakout --  perfect entry...    80 tick move.  Just watched the perfect trade premarket.

I hate that missing moves often feels worse than losing money.  /gc is so crazy but I've seen it do this before - spike premarket.

/tf walking back up to 999.

LOW missed
TGT weak.
TSLA weak.
NPSP - strong

goal: take a great set up.  Don't worry about being wrong.  Control your emotions.  Just manage the trade.  If you miss a trade, you have to wait.  Can't take a weak trade to get something going.

Don't try to overthink. You are trading with yourself, not the market.  You beat yourself. The market doesn't beat you.  You don't need to know what's going to happen to make money. You just need to know what you are going to do to manage risk.


One way to trade futures is to use the opening 1/2 hour range to establish control.  Once it breaks above, there's a high probability of catching a trend.  Inside the range can be nothing but chop. Today's unusual reversal -- finally -- featured breakouts on both sides.

/tf: wide range reversal candle. Entry on break of 1/2 hour range wins

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