Wednesday, November 30, 2016

GLD 30 minute short


GLD 30 minute candlestick short off resistance - S2 pivot - after a nasty gap down catching the longs from prior day.

Trend down - daily chart and on the day.

Nice red candle off support - goal R3 pivot

30 minute candles can set up nice plays put take longer to play out.




* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Saturday, November 26, 2016

IWM and TLT breakout and breakdown 30 minutes



Two 30 Minute trades - as with both trades I stick with and trade the trend of the early trading and daily chart. Daily chart on the left (with moving averages) and 30 minute chart on the right....and one big screw up with IWM.
TLT - Short, entered low of first candle, stop at the high and rode for a 1.50R nice winner

IWM - Long at 30 minute high and goal was the next pivot. Here is where I screwed up. Friday was a half day of trading, markets closed at 1PM eastern time and I totally forgot. I entered the trade, along with my exit and stop positions, then left and went about my day. I usually do this with my last trade (gym or work) and will monitored throughout the day. So around 10:30ish west coast time I look at my phone to check the quote and see for a half hour the stock hasnt moved..Im like WT?...yup totally forgot the markets closed and yes stuck in the trade over the weekend.

Entry was 133.90 and stop was 133.63. How I will work it Monday is if premarket is trading above my entry will ride it out and shoot for 134.24 exit and place stop at my entry. If the price is trading below entry will just exit and eat the loss.




* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Monday, November 21, 2016

Week Ahead: ES and Dia

Week Ahead: ES and DIA

Markets stayed strong after the election rally. The DIA (Dow 30) is leading the way after breaking through its short term trend. With possible new trade agreements and less regulations with a new administration this may benefit the large cap companies going forward. At some point we will get a pullback but the trend is your friend.

Finishing up the touches on updating my stock business plan. Made it more simple with the setups for newer traders. Should be complete by the up coming weekend. January first both plans will be $49.99 so get them now while on sale. 




* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Saturday, November 19, 2016

30 Minute Breakdown - TLT

TLT 30 minute Breakdown short 

Entry: 30 minute low 121.52

Stop: High of the day 121.97

Exit: My goal was yesterdays Low (red line) 121.02

Along with gaping stocks I monitor a handful of EFT's  6 high volume stocks. In my stock business plan I describe 3 basic setups and the 30 minute breakout/breakdown is one of them. 

Here TLT is in a down trend and gaped up to form a red candle off resistance during the first 30 minutes of trading. Always trade with the odds in your favor - trade with the trend. Its why i always consult with the prior days action and the stocks daily chart.



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Monday, November 7, 2016

Weekly Charts


Weekly Charts: ES and NQ

Last week the NQ closed at support and the ES broke through a support line. I wont think short the market until the NQ closes below its support line along with ES.

A few early opportunities to trade. Results of the election could make Wednesday an interesting trading day.




* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE