Friday, December 27, 2013

ES, NQ, or YM Fade Long


ES, NQ, YM 5 Minute Chart
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E-Mini: ES, NQ YM
Long or Short: LONG
Entry Point:1835, 3572.50, 16399
Stop: 1833, 3567.50, 16379
Exit Goal:  scale at 2, 5, 20 points and extended goal of 1839, 3572.50, 16439
Result: W
Notes: All three indexes hitting support and used the TICKS to help time the entry. I cover TICKS in the business plan. Staying with the trend and good example of splitting your orders. Charts above show where price is now and stops would be at entry with exit mentioned above. Have 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