Wednesday, October 16, 2013

E-mini ES: Gap and Go



Daily and 5 Minute Chart
.
E-Mini: ES
Long or Short: Long
Entry Point: 1702.25
Stop: 1700.25
Exit Goal: 1706.25 and would have let some run
Result: Even
Notes: Ran three points. moved my stop to entry, retraced and took me out and took off. Had the correct thesis today but taken out by a tick. That is trading and I stuck by my rules. Broke out of the 15, 30 and 60 minute range. Shorts were crushed in the morning trading.

* 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.


Feel free to post any trades you made today that you would like commented on.

 

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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