Recap Notes:
Trade Selection - Ok trading, Good initial Entry, OK Exits. Sequence 1 was a c(500 cycle with background strength and current momentum. I was able to get a solid entry and withstand the short heat taken by closing 2 with a small loss and reentering at better prices. Sequence 2 was a continuation of sequence 1 where price is being propped up in a TRD. I was able to hold for a small profit on the 1st breakout of the tight range.
INTANGIBLE OBSERVATIONS:
Read the sentiment of the Market and Understand the Background - Today i was able to read the sentiment of the market due to the background strength that appeared in the globex session and the Prior Days Close. This along with the open gap of less than 2pts pointed to a continuation of higher prices albeit in a tight range. This allowed me to remain confident even when cycles appeared to be turning against the position.
Its Ok take small bits out the markets -Continuing with light lots and quick stops in order to warm up and get back into rhythm. Today was ok but i noticed myself feeling like i should have captured more points. Be satisfied with your gains. The sense of greed or un appreciated gains will rear its ugly head it allowed to persist.
Start slow and Low after hiatis breaks - Today we had a bit of a mixed bag with a tigh range early so I traded light on the morning.