Wednesday, November 13, 2013

NQ Gap Go Short


NQ 5 Minute Chart
.
E-Mini:NQ
Long or Short: Short
Entry Point: 3344.5
Stop: 3349
Exit Goal: 3334.5
Result:L
Notes: Bearish gap downs on the indexes below yesterdays lows and support. Waited for pullback to the low of yesterday (see circle at the red one) and taken out. Take the loss, stick to your stop, and move on and look for the next trade. Shorts run over all day. 

* 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