Wednesday, October 30, 2013

NQ Gap Go Long



NQ Daily and 5 Minute Chart
.
E-Mini: NQ
Long or Short: LONG
Entry Point: 3394.75
Stop: 3393.25 (was 3390.25 and moved up)
Exit Goal: 3404.75
Result: small L
Notes: I liked the gap up shocking the shorts and using the year high as the support. Ran into the whole number didn't have the juice. Moved stop to low of the day for a small loss. ES had a nice gap fill that I passed on.

* 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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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