Tuesday, December 17, 2013

ES Fade Long


5 Minute Chart
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E-Mini: ES
Long or Short: Long
Entry Point: 1772.25
Stop: 1770.75
Exit Goal: 1775.75
Result: L
Notes: Liked the setup but stopped out by a tick, entry was too aggressive with the previous red candle with volume. Poor entry as ES rallied up 5 points . Move on to the next trade. 

* 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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