Trades/Orders (End of 8/10/10 Session)

One trade:

Bought YMU10 @10,602, stopped out @ 10,584; P&L: -18 points.

New orders:

Buy YMU10 @10,452 with 10,434 stop and 10,488 take-profit.

(Daily S2 pivot point is 10,443)

Sell YMU10 @10,748 with 10,766 stop and 10,712 take-profit.

(Daily R2 pivot point is 10,751)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 8/9/10 Session)

No trades.

New orders:

Buy YMU10 @10,602 with 10,584 stop and 10,638 take-profit.

(Daily S1 pivot point is 10,609; daily PP is 10,646; weekly PP is 10,584)

Sell YMU10 @10,698 with 10,716 stop and 10,662 take-profit.

(Daily R1 pivot point is 10,701)

[ For some background and a disclaimer, please read this post and especially this post. ]

So Scared to Fail He Became the Greatest Ever

You won't hear this very often from a top performer and yet there is so much truth in that. Fear of failure, up to a point, can be a great motivator if it is combined with superior talent. Jerry Rice at his NFL Hall of Fame induction:

My single regret about my career is I never took the time to enjoy it. I was always working. I was afraid to fail. The fear of failure is the engine that has driven me my entire life. The reason they never caught me from behind is because I ran scared. People always are surprised how insecure I was. The doubts, the struggles, is who I am. I wonder if I would have been as successful without them.

Trades/Orders (End of 8/6/10 Session)

One trade:

Bought YMU10 @10,552, sold @ 10,573; P&L: 21 points.

New orders:

Buy YMU10 @10,502 with 10,484 stop and 10,544 take-profit.

(Daily S1 pivot point is 10,499)

Sell YMU10 @10,798 with 10,816 stop and 10,756 take-profit.

(Daily R2 pivot point is 10,804)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 8/5/10 Session)

No trades.

New order:

Buy YMU10 @10,552 with 10,539 stop and 10,573 take-profit.

(Weekly R1 pivot point is 10,541; 10,550 acted as support the last 3 days; daily S1 is 10,583)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 8/4/10 Session)

One trade:

Bought YMU10 @10,552, sold @ 10,573; P&L: 21 points.

New order:

Buy YMU10 @10,506 with 10,489 stop and 10,538 take-profit.

(Daily S2 pivot point is 10,506)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 8/3/10 Session)

One trade:

Bought YMU10 @10,556, sold @ 10,594; P&L: 38 points.

New order:

Buy YMU10 @10,552 with 10,539 stop and 10,573 take-profit.

(Daily S1 pivot point is 10,552; weekly R1 is 10,541)

[ For some background and a disclaimer, please read this post and especially this post. ]

Trades/Orders (End of 8/2/10 Session)

One trade:

Sold YMU10 @10,548, stopped out @ 10,566; P&L: -18 points.

New orders:

Buy YMU10 @10,556 with 10,539 stop and 10,594 take-profit.

(Daily PP pivot point is 10,569; weekly R1 is 10,541)

Sell YMU10 @10,694 with 10,711 stop and 10,662 take-profit.

(Daily R1 pivot point is 10,690; weekly R2 is 10666)

[ For some background and a disclaimer, please read this post and especially this post. ]