Monday, December 2, 2013

ES 30 minute Fade Long - 2nd fade of the day

 ES 5 Minute Chart
.
E-Mini: ES
Long or Short: Long
Entry Point: 1801.50
Stop: 1799.50
Exit Goal: 1807
Result:W
Notes: Faded the 1801 support with the S1 pivot and 1800 support. (blue X's show the support lines) 2nd fade of the day and worked out. If I was stopped on this trade my trading day would have been done after being stopped on the first fade trade. I stick to a firm 2 losing trades and done for the 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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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