Change in tone - Closed

 Well, opened the charts this morning and had a little surprise. Usually, all of the charts are pretty similar. But this morning, it seems like the longer-term products (ZB and ZN) were looking bullish, while the ZF and ZT were still bearish. Here is a screen shot at about 0900hrs (after the 0830 numbers) to show you an example:



So anyway, after the numbers, as prices went parabolic, looked at Fibs to get me an entry point. As the Turning line was on the 50% mark, put a buy order for that. Ten tick stop. 

Filled 0844: Bot 1 x ZN @ 114'190. Stop 10 ticks. Tgt 20 ticks.  I want to use a PSAR to move my stop level, as I am looking at this as a day trade (chances that it goes up to a point before end of day are low). Thought about using a 3M PSAR, but the 15M looks better and will give some wiggle room. 


After the past month, the hardest part will be not to rush into taking profits before my target. But I know that this is where using the PSAR comes in. 

Update 0948hrs: Well, so much for the plan. It worked well, until prices started to gyrate a huge amount. Came within a tick of hitting my stop, then turned and rocketed up. With the number coming out at 0945 and the big one at 1000hrs, thought it would be best to get out and take some money for the day. Next week, I am back at home, so I have some things to do here to prepare for the trip. 

At 0934hrs, Sld 1 x ZN @ 114'225. 


Gain of 7 ticks - not even 1:1. Not happy about that, and not happy that I didn't follow the plan and fear got the best of me. Saw the short 1000 contracts, saw that the H didn't close above and hadn't yet turned bullish, so there was some hesitation. I will update after 1000hrs number to see if I made a good choice or not. Felt like a good choice at the time....

Update 1025hrs: 


So, numbers came out at 1000hrs, and they didn't do much. I was hoping that I could have used this screenshot as a reminder to always follow the plan, but I actually did OK today. If I had followed with the 15M PSAR, I would have been stopped out at '190, for a loss of only commissions. To be fair, the hourly chart is still slogging through the bearish cloud, so it may be a bit before it breaks out. I will have a look on Monday and start a fresh new trading attitude where the air will be crisper.  ⛄

Update 1330hrs: Of course, there is another way to look at this trade. If I wasn't so much of a baby; scared of taking a loss, I would have stuck with the trade as per my normal parameters: Enter - stop 10 ticks - target 30 ticks - move stop to BE when up 20 ticks. If I had stuck with it, I would have the OPPORTUNITY to participate in a larger move:



The move did come down, but my stop would have been OK, and I would have the chance to take WHAT THE MARKET WANTS TO GIVE ME, not what I decide I should do. Note as well, there is some strong resistance marked in yellow that should do well for the future up-move. I don't know what will happen this afternoon, but no one does.

What do I want to do; Trade or MAKE MONEY??  Suck it up, buttercup! Make the trade as long as it is part of the plan, and then let the trading Gods speak. Walk away and let it work.

I find the technical analysis easy; but the psychological is the challenge!

So there is my rant for now. I made a decision to get out, so it is done. But if I continue to take small winners and some 1R losers, I will not make money. 

Update 1630hrs: There are no words for this (that will be said here anyway):



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