Not an easy session finally finished. Can't be proud of my execution, either yesterday or today, because lots of really challenging opportunities were lost. Although, remember one of traders mantra? Loss of opportunity is better to loss of capital.
First session trade was absolutely based on fundamentals. We had unexpectedly bearish consumer confidence data (46.0 vs 55.0 estimated) and even the mkt had already hugely reacted on the number i have bet that the door to the downside was opened. But there were no specific internals data in my hands, thats why soon I preferred to get out of the trade. Unluckily I was too fast in my decision and as I have fixed short position, market continued to move lower.
I was frustrated little bit and unfortunately didn't manage to get that emotions came to my trading. Trading rule calling that "there is no place for wishful thinking and emotions in trading" was behind me and i made mistake. I have entered ones again short, calling for ES fresh session lows on Nasdaq weakness. ES indeed posted lower low. But downside momentum was shrinking. And as one more bullish divergence have appered (btw with $tick finally confirmation) ES pulled back to the upside. Trade met stop loss.
Third trade was opened within last session hour. Entered long on: 1) strong $add relatively to ES; 2) internals in favor (0t<1.1k w/ 2t>1.1k & 9t>+800 w/ 4t<-800 at the moment of my entry). Soon fixed, cause: 1) ES for more than 5 minutes couldn't climb above VWAP and 2) strong bearish divergence on ES w/ nq (Nasdaq Composite) & er (Russell 2000) have appeared.
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