Thursday, November 7, 2013

ES Gap Fill Short

ES Daily and 5 Minute Chart
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E-Mini: ES
Long or Short: short
Entry Point: 1770
Stop: 1772
Exit Goal: 1766
Result:W
Notes: Gaping right into resistance (high of yesterday, all-time high and R1 pivot). Ran against me for a little bit and then rolled over with the rest of the markets. Great illustration of a pump and dump.

* 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