Wednesday, March 31, 2010

Note To Self - Do Not Scalp

Scalp is an excuse for me to drop my discipline and gamble because it is a tighter stop and target. Always a loss for me.

Problem here is that NQ is doing it's normal thing of moving around more than ES.

Here ES is firmly entrenched at the top area and not breaking over it.

NQ is dancing around like usual and broke out over this top.

Going long here is not good because the pull back wasn't a moderately stepping down with bullish power, it was a chop right down reversal from the prior high. That's bearish and too much of a strong pullback to be entering long at that point.

Error; should not have traded there.

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