Wednesday, October 23, 2013

E-Mini YM Gap Go Short



Daily and 5 Minute Chart
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E-Mini: YM
Long or Short: Short
Entry Point: 15352
Stop: 15372
Exit Goal: 15312
Result:W
Notes: Split order with the ES which help lead the way down. All three indexes had some type of resistance on this bearish gap down. Opened at the low of yesterday and had and order to enter at low of one minute bar. After the YM bounced moved entry to one tick under the open. Either entry would have worked out. Reached the target and bounced....another great example of not getting greedy. The 30 minute fade long was also a nice trade and the 15 minute breakdown.

* 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