Tuesday, January 14, 2014

ES 60 minute breakout

ES and NQ 5 Minute Chart
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E-Mini: ES
Long or Short: Long
Entry Point: 1823
Stop: 1821
Exit Goal 1:1825  
Exit Goal 2 (optional): 1826
Result: W
Notes: I dont only post winners but excellent month. No reason to fade after the morning gap held and the strength of the NQ, sectors and TICKS. YM was lagging but again only 30 stocks. While I show the extended range target, just sticking with exiting all after 2 points is a great option and should be used by the majority of traders. Get in get out.
 

* 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 boar

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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