Although, this trade did not work out for full profit today. I do like this kind of set up at times. If you will note, there were two Spike Reversals shown, the first one was the low was lower than the the 2nd Spike Reversal, which had a higher low.
This is a trade pattern that I will take the trade at times on. This trade was specifically taken on my trading plan. It was closed out Breakeven plus 3 tics today. I wanted momentum to carry this trade up in a hurry this morning and this did not happen. This showed me that the market was heavy, and most likely wanted to go down more.
In any case, I was able to take a couple tics away from this trade, and more importantly it fell into my trading plan. After my bad ES trade, the most important thing you as a trader can do, is to look at why you took the trade, then not repeat the same mistake.
With this being said, the most important thing you can do as a trader is to walk away until you get your discipline back. Do not take a REVENGE TRADE to pretend that you will get back to even. If the trade is not in your trading plan, then do not make the mistake and trade it.
Now, mistakes do happen. The first step is to recognize you are in a mistake, then immediately take care of it as soon as you know that you are in. Hopeful thinking for the most part in trading rarely works out.
Ok, I am off my soap box now. On a side note, Steelers training camp was a blast with my boys, and I look forward to trading with discipline and control once again tomorrow and the rest of my trading days, to the best of my ability.
DO not beat yourself up, dust yourself off, and move on. The most important thing you can do, once you know what you did wrong, obviously is not to repeat that mistake again, but after that is taken care of, then get back on the horse and trade again. Do not let yourself become fearful of the market, allow yourself to have respect for the market, but let go of the FEAR.
I am truly done with my post now, and look forward to Wednesday and Thursday to see what the market has to offer.
Good Trades,
David AKA Tiger
In the bond market this morning, or the ZB market, I entered my long position at 8:35AM. This was 5 minutes after the two RED REPORTS of Core Retail Sales and Retail Sales. This trade was in and out in one 15 minute bar.
Although, this trade did not work out for full profit today. I do like this kind of set up at times. If you will note, there were two Spike Reversals shown, the first one was the low was lower than the the 2nd Spike Reversal, which had a higher low.
In the ES Market today, I noticed that it really wasn't moving and formed what I would call a trading channel. I was looking for a breakout of that channel, and specifically looking for a reason to go SHORT. 
Today started out on the wrong foot, and by that measure I should have went back to bed this morning. My first entry in the bonds was not filled on a LIMIT ORDER, so I made no trade on the 2nd bar this morning on the bonds.
ES Trade Exit a little before 2:15PM Eastern time at 1308.25 on second half of trade. This is equal to $425 per contract traded.
Another trade that was made came at 11:15AM Eastern time. My entry was to be long at 1299.75. 1/2 off at 1302.75 or $150 per every contract traded. On the second half of the trade, my target is 1311.25, which is a little below the ADR.
Today in the ZB bond market. There was a trade that came at 11:20AM Eastern time. My entry short was at 115^29. 1/2 off at 115^23, 2/2 off at 115^20.
This was a trade for patience. My first entry was breakeven plus 2 tics. My thought process was the bond auction made a nice move up, but the stock market had not adjusted to the bond movement. My bias was on the short side in the afternoon.
G6E never got close to the greenline today, until late in the day. Click on chart for comments on trade. This trade came off the ECB Press Conference at 8:30AM Eastern Time. My entry was at 8:45AM Eastern time.
Trade in the bond market long at 8:35AM Eastern, all off at target. For every 2 contracts today was $375.
Nice trade in the ES today that was looking which hit target at 1289. The greenline was stopped out on the last contract. 3 contracts today, 2 off at 1289, 1 off at 1287.25. Entry was at 1286 at 2:30PM.
