Wednesday, December 4, 2013

NQ pullback Long

NQ 5 Minute Chart
.
E-Mini: NQ
Long or Short: Long
Entry Point: 3482.25
Stop: 3479.75
Exit Goal: 3492.25
Result: L
Notes: Setup well, no gold, small loss...yup would take again and liked support from 20sma. Plan was look for a pullback that would retest the highs and then fade the highs of the day at the lunch time hour.

* 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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