ES TRADE REVIEW 04/24/13

I am running behind tonight and a bit tired so this review is going to be on the short side.  ES opened under the 1574.25-76.25 WHITE ZONE.

  When the market is trading above the WHITE ZONE buyers are in control-below & sellers are in control.  In the strategy I discussing on my posts I am describing my highest odds trades.  First time into the WHITE ZONE is a high odds counter trade.  The most aggressive trade is from the front of the zone, the least aggressive trade is from the back of the zone.  Both trades gave multiple scale opportunities with a max possible gain of 6 points. (2)  ES traded down to 1 tick infront of 1570.50 zone before rotating back up to the 1574.25-76.25 zone.   Today turned out to be quiet the chop fest.  Many traders have difficulty when a market suddenly switches from making fast directional moves to slow grinding moves.   Following a trading plan and not running many trades makes navigating these days much easier.  The market chopped through a top range until just after 1 pm central.  I pointed out on stock twitts that if the market closed above 1576.25 on a five minute bar that it would generate a long trade for me on first test into the zone.(3)  I took the trade at 1576 and had two scales for +5 ticks and +8 ticks.  I was stoped on balance at break even.  It was a difficult trade to take.  Market internals were not really confirming an extended move up and it was late in the day on a choppy afternoon.  emotionally I wanted to talk myself out of  the trade.  Thats where trading rules always come into play.  There is always a reason to not take a trade, or finding reasons to take a trade.  By having clear cut rules, there is less thinking and just following the set up.  I would have missed my profitable trade and that would have been very disappointing.  ES had a pretty good bout of heavy selling into the close.  The last hour is always tricky and the market seemed off balance on whole, probably because of the ridiculous news event midday yesterday. Tomorrow a new day.  i am off to get some rest so i do a good job in the am.  Hope everyone did well today.