Do No Harm

First and foremost rule of trading - do no harm.
Do no harm to your account, your firepower, your trading style, your mental physique, your trading career!

Today I am missing a rally above 1357 on ES. That was the level I wanted to short just two days ago. I went long at 1337, but "chickened out" of shorting 1357 after I heard second most powerful banker on the face of the Earth say that he "will do whatever it takes" to destroy euro bears. I am not going to go into details on how that affects ES, but let's just say the chart from 6 am yesterday should tell you what it means.

Am I mad? No.
Am I upset? A little.
Will I chase this move? No.
Do I want to short up here? There is absolutely no quality set up, so the answer is - No way.
Am I confused? No.
Am I going to do anything about this? No.
Do traders have to be in position at all times? No.

I am staying flat, safely, unharmed by what could be a pure stupidity of fighting an upcoming central bank action, as the chatter of such picked up further today. I have been writing here about how important it is to identify the changes in the market and adapt to them. My trading plan got scrapped and I posted that here yesterday. I am staying flat through ECB meeting, awaiting the results to identify the next big move.
There is absolutely no possible way to be in every move. I missed this last part of the rally above 1357. It could be worse, I could be short 1357 and having to cover up here, and become a weekend fried bear special at my local restaurant.

Trade smartly and stay tuned for updates...