Note: I adjusted EMP’s zones back to the March contract by adding 5.75 to all of them.
Today was a very educational day for me.
First I got short early before the big move up and added to that and then took a big loss.
When the market opened I didn’t take the first long, but I did take the 2nd test of pre-market support and got 4.25 pts on the run to IBH. I made back over half of my big loss and pretty much stopped there. The last long setup was a beauty but I had little confidence because the market was so slow and I didn’t want to get long into initial resistance.
My focus for tomorrow:
- I will write out my plan for each session so that I don’t deviate.
- Be more patient.
- I will not enter without one of my order flow setups.
- I will resist scaling out too early.
- I will be more aggressive at the EMP zones and not be afraid of losing.
- I will be more aware of the S&P 500 Adv/Dec line to know if I I should favor one side over the other.
Speaking of the Adv/Dec, if you want to use this with IQFeed data the symbol is JI6T.Z (Thanks to CD & Edward for the symbol). Today the A/D was pegged in the upper 300’s which is very bullish so the focus should have been on getting long on pullbacks. Which is why I shouldn’t have chosen not to take that long. There was money there and I refused to take it!