Trend Day's PAY!! If you Obey

Today was another huge Gap Down Day opening over 25 points Lower than yestarday's close. After finding an early low, ES began to rally in the gap area testing slightly then breaking into a trend day.

What Did I do Well?

• I showed better patients today in picking quality setups.
• I stayed Objective by using the what-if mentality that helped out
• The money management excersize was enhance greatly by the implimentation of the Auto Trade Management (ATM) strategy.
• Was able to take small losses and breakeven without regret.
• Was able to get MAX profits on 2 trade
• I applied the $TICK very well today, using the Moving average, Better Indies to ID trend and time entry and exit points. 

How was my Mind Chatter? Was it market strategy Focus or Self- focused?

• I caught myself thinking about my P/L and my last trade, I tried to throw it out and focus on market analysis, I fought with it early but was able to switch to correct thinking.

Market Strategy focus means FOCUSING on the current environment, analysing the moment.
Self- Focus is thinking about your P/L, your last trade, Frustration, Anger, whether the account is ahead or behind.

What Did I do Poorly? 

• Caught myself thinking about my last trade and P/L
• Forgot about Fed Anouncement at 10:15 and was actually trading during this time..%^ the whip saw stopped me out a few times but still did ok given the environment.THIS CANNOT NOT BE OVERLOOKED, i was fully aware of the FOMC statement but i didnt think about the TIME!!%^$%^&*

How will this affect my Progress? 

• Self Focus will break you down mentally and financially, this must be STOPPED, 

• NOT being aware of the Time of Events can be critical to your weeks bottom line, its like overtrading on a friday, 

Solutions: 

• Correcting Self Focus - a good way to stop self focus is to be aware that it can pop up at any time, the awareness will help you to identify it so that you can re adjust your thinking back on the current analysis.
• When you look at the Event Calender BE SURE TO NOTE THE TIME..

Intangible Jewels:

• If you enter and are down right away by 2 ticks this is a good indication that you may be on the wrong side. Look to exit and re-adjust.
• Be very Patient when looking for  Reversals they take time to ripen.
• $TICK trend tells, when the TREND is VERY STRONG the moving average stays above 0 Line.

• 3 LB Exhaustion signals are also good Entry and Exit confirmations.