I recovered well with one very profitable day that took me to my Net Daily goal this afternoon. Up until that point I was floundering a bit. No horrible or devastating losses, but just a steady sliding backwards in this morning’s session. I’ve identified one of my biggest trading errors as being unable to go with the trend on a trending day. I just constantly find myself going for CT scalps (or worse, Trend plays going for the ‘Big Score’). Thus I usually end of sliding backwards, then swing for the fence trying to make back my losses (usually via a CT Trend play) and hit my daily stop out limit.

I found the same thing happening today and yesterday. While yesterday I was unable to prevent myself from stopping out, today I noticed that as of 11:30, 9 of my 10 trades were all Short plays! So I waited and waited until I saw an opportunity to go Long and scored almost 4 ER2 points.

One big red flag that I need to be more mindful of is the $TICKs; They spent 90%+ of the day today above the 0-Line, a very clear indication that I need to be looking long & not short. I find that when I am mindful enough to step back and look at the whole picture, my results improve dramatically…Now it is just coming up with ways to ingrain that process more solidly. Below is the one trade that made all the difference for me today.

If you can, pull up a 5-min chart of the ER2 as it shows the play much more clearly. But after basing near the high for over an hour and sporting a nice looking Price Divergence+ (formed when the TRIX pulls back towards 0, but price hardly moves), the signal finally came when both 55-tick & 610-tick charts showed a TRIX Hook (TXH+) and broke higher along with the $TICK which was forming a nice little mini-double bottom as well.

I planned on staying with the play until things looked like they were slowing down or in 4 points, whichever came first.