Monday Log – The “This & That” Plan

I traded both simulator and live today but mostly sim. I wasn’t able to get totally focused on the market and could not get a good read/feel for it. Started out with live and sim trades. Live I sold in high 31’s about 30 minutes after the open. Stop was set above overnight and first 30 minute high. I liked the trade idea but, as it turns out got in too early. Price ran two points above my stop and eventually dropped deep into the 20’s. I felt a slight touch of intuition but not enough to have enough conviction with the trade. Could have gotten back in short in 34’s? Result: -2.5

Sim I bought in 32’s and took the opposite side as the “other guy”. I didn’t feel as good about going long up near this edge but was thinking price would test R1 area. 1^st target was 35.75 and missed fill by 3 ticks. Price never recovered after the surge to 35. Stopped out in 30’s. Result: -2.5

Later in the day I had a scratch trade that I tried to scalp and at EOD scalped for a couple once the HL was put in around 1545. Result: +2.5

Overall the day wasn’t too bad other than not being able to pick up on the feel or rhythm of the market. Not having my attention directed towards the market definitely impacts my ability to trade. No worries though as there is always tomorrow and I enjoyed my peripheral engagement within E-Nation.

One thing I did feel good about was the extra time I took to plan my day as far as my detail went. I’ve always scratched out important numbers, eco reports, pivots, etc on my worksheet and charts. However, now I’m beginning to use it in relation to EWS and the EWS planning format. By combining the two “Market Planner” worksheets and format, I can say that it provides me with better guidance with what I want to do, what the market might do, and if it does this, I’ll do that. The “This & That” plan. Sounds like a good map to help me plot the course and get to the “secret code”.

Trade Well !