Today we had a 8.25 Gap Dn Into 13,500 and 4500 Support, we bounced very quickly and started a rally that rarely if ever pulled back. Ignoring all signals we put in a 18pt rally into new highs above 1415.50 before 9:10.
Recap Notes:
No Video for today
Trade Selection - Very Poor. OVER LEVERAGED AGAINST THE TREND!!! Careless entry's at very in opportune times. Very Poor RUSHED entries and Barf Exits. Did not follow what the market was saying AT ALL!! Multiple Unqulaified Entries, should have benched myself early.
INTANGIBLE OBSERVATIONS:
The Larger Trend is Key- We are obviously in a strong market, all my recent profits have been made with the larger trend. Today a traded against the larger trend and held over-leveraged positions managing risk with size, which was not too bad except that i simple ignored the larger trend and did not take QUALIFIED ENTRIES!