Some thoughts: First, its a skill set to move from a directional market to a sideways churning market. Its not unusual for a trader to do really well in a directional move and give it all back in a sideways, slow consolidating move like we had today. Second, by avoiding the short, my trade plan let me relax and not have to work through hours of chop. It is mentally difficult to sit all day waiting for a market to come in. Your mind races with thoughts like - what if we get squeezed up to 1620. My guess is most shorts covered above 1615. The best rotation down was about 3 points. Best rotation up was 5 points. The range for the day was 7 points. Just not a great deal of opportunity.
What I love most about the way I trade is that I dont have to figure it all out. I only had two triggers. 1 worked 1 did not and net net I made a little money. IMHO figuring out what the market will do tomorrow is almost impossible. All I have to figure out is what I will do a certain levels & let the market do its thing. Bigger picture buyers are in control & I expect buyers to step in on the dips. Bull market corrections are fast but short lived and I would expect any up coming corrections to fit that profile.
“He will win who, prepared himself, waits to take the enemy unprepared.”
― Sun Tzu, The Art of War