Tuesday, December 10, 2013

ES Fade Short

 ES Daily and 5 Minute Chart
.
E-Mini: ES
Long or Short: Short
Entry Point: 1806.50
Stop: 1808.50
Exit Goal: 1801.25 (out 1803.50)
Result:W
Notes: Open up below yesterdays low, bearish after 30 minutes. Yesterdays Low and pivot provided resistance. The pop through missed having the trade being stopped by a tick, rolled over and missed final exit total by a tick and out at 1803.50.

* 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