Thursday, November 21, 2013

NQ Gap and Go

 NQ Daily and 30 Minute Chart
.
E-Mini: NQ
Long or Short: Long
Entry Point: 3381.75
Stop: 3379.50
Exit Goal: 3391.75
Result:W
Notes: Gap up over PP and resistance shocking the bears. Was looking for short covering after several down days.  NQ pulled back once the NQ crossed back over the open and took trade with the stop at the low of the day. 

Had a split order for an ES entry at 1783 and missed.

* 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