I was able to get the rest that I needed, and I'm coming back with a fresh perspective. I had considered waiting until next week to start trading again, but Trend Fader's post last night motivated me to start today. I'm extremely glad that I did. Thank you Trend Fader. Trade 1 (BOT 1342.5 SLD 1358.25 AVG) I could see that the tape was pointing up, and I was determined to stay in this trade as long as the tape was pointing up. I received a better entry than I had anticipated, and it never went below 42X42.5 while I was in this trade. Every 15 minutes I would try to be as objective as possible and analyze the tape. I kept receiving an up signal so I stayed in the trade. After 3:00 EST, I thought that I would probably be able to get 1363 at the close. Unfortunately, the market needed a rest around 1355 NDX to gather the next round of upward momentum and that wasted a lot of time. My confidence started to get shaken around 3:45 EST, and when it dropped from 58 to 54 I exited 5 contracts at 54.5. At this point I was going to hold until 4:00 EST or 1353, whichever came first. Finally I exited the remaining 15 contracts at 1359.5 at the close. It was disappointing because I could tell that things were about to heat up but I didn't trust the after hours period, especially on a Friday. I'd be lying if I said that it didn't hurt me to see it trade at my target of 1363 in the after hours period. Nevertheless, I did the best that I could on this trade. This was a terrific day for several reasons. I was able to stick to a plan of action without being swayed or deceived (except at the very end when I sold 5 contracts, but in retrospect I think that was a wise decision anyway). I was able to trust the tape completely. I was patient and gave the market enough time to work for me. My reward was that I am now above my August 28 high. It's a terrific feeling. I'm hoping that I will be able to continue this trend next week by applying the same principles I used today.
I have decided that I am not going to continue this particular journal, although I will continue trading. I would like to believe that I will start another journal in the near future, but at this time I cannot guarantee it. I feel that I have accomplished all of my goals (and more) for this journal. Having this journal on ET has been an extremely positive experience for me. I have really enjoyed the interaction and have certainly benefited from the contributions of others. I apologize for not posting this earlier, but this is the first chance I've had today (I didn't trade today either). Anyway, I will continue to trade but I will be unable to continue posting in the near future due to time constraints and personal obligations. I'll return as soon as I'm able. Thank you for your understanding.