Wednesday, December 11, 2013

ES Fade Long


ES 5 Minute Chart
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E-Mini: ES
Long or Short: Long
Entry Point: 1789.50
Stop: 1787.50
Exit Goal: 1794
Result: L
Notes: Was searching for a pullback to enter, no luck, blood bath all day. Must stay with the discpline of not chasing By rules of my business plan passed on the 15 and 30 minute long fade. With extended range and R3 pivot took a shot later on, pereceived this trade as 50/50. Stop out, done for the day. This was a runaway train type of 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