Thursday, October 17, 2013

E-Mini ES Gap Go Long





5 Minute Chart showing the Gap and Premarket Support
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E-Mini: ES
Long or Short: L
Entry Point: 1709
Stop: 1707
Exit Goal: 1713
Result:W
Notes: Staying with trend, entered at open with the low of premarket. Left chart shows the gap, right chart shows the overnight low.

* 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.

 

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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