Monday, October 21, 2013

E-Mini YM Gap Fill Short

5 Minute Charts: ES / NQ /  YM
.
E-Mini:YM
Long or Short: S
Entry Point: 15337
Stop: 15357
Exit Goal: 15097
Result: even
Notes: Missed by 6 ticks...stopped at even and then rolled over to fill. Shorted the YM (right chart) as it was the weakest of the index's with the NQ (R1 pivot) and ES (high of previous day) were at resistance.
At 10:00AM the Fake Breakout set up nicely as well.

* 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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