Friday, November 15, 2013

Zzzzzzzzzzzzzz...No Trades

Open Trade: Not much to fade at the open, had an entry to go long at gap fill with the ES and missed by a tick.

Other: Low volume tight range early on. Missed a fade entry by a tick..theme of the day. If I was in front of the computer late day would have taken a breakout of the highs on the ES for a few points. 

Notes: Great example of not having to trade everyday. Everyday is a new chess board, today board was filled with slow moving pawns. Have a good weekend. 

* 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