[wjrusnak]

I wanted to take the time here to analyze what I found to be a lesson in flexibility. DBPheonix has written in a number of threads about this very subject and I didn't realize this was a perfect example until I didn't take a short at certain levels today.



In the above chart, I did not add the 8435 level until this evening. This level would most likely have gave me a better indication to take a short had I been aware of its presence.



Anyway, I took the break of 8495. In trade #1, I would have closed the trade for ~+15 profit had I been aware of 8470, as indicated above (instead of my target of 60). Trade #2 and #3 were according to plan and #3 was closed simply due to the fact that it just wouldn't push any lower before 4:15pm.

Also, I think for both situations (short and long), I exemplified the importance of "looking left" as I read in one of the Wyckoff threads earlier. Had I done this in both situations, I probably would have had a more successful day.

I'm finding some difficulties in marking levels. I don't want my charts to look like a striped shirt, but today that almost would have helped. Above you can see that I was dead on about 8420 and had I been there in the morning I would have had a good shot for a long. As for those upper levels though, I had a bit of trouble identifying them and it definitely threw off my judgment. Flexibility (do I need to stretch...yoga)? [cheezy...]

[wjrusnak]

Today made up for the week. Ended with +20 YM Points on tradestation and -1.25 NQ points on Ninja. That leaves me with a whopping $25 profit for the week. Even so... its profit!

The main thing this week is that in 95% of my trades, I stuck to the plan. I did miss a few good points and I took one trade I shouldn't have, but overall it did not hinder my performance. I also became more flexible around levels, as I should be. Doing that helped a lot, not only with entries, but with psychology. I wasn't baffled today when the YM pushed above the level I wanted to short, only to fall soon after. In other words, I let the market do its thing and "went with it". I got the entry later and profited from it.

[jonbig04]

Have you considered taking multiple times frames into account? I find it very helpful especially in determining levels.

ps you can see what I do with my Friday nights lol

[jonbig04]

Also I would like to commend you for trading while pursuing med school. I know trading, and I'm sure your classes, take up a lot of mental energy and I think its awesome you're devoting so much of it to some tough goals. Keep at it and I'm sure you will have the world in the palm of your hand at a very young age. After all, thats why we're doing all this anyway right?