Thursday, January 30, 2014

ES and NQ Gap Go Long


ES and NQ 5 Minute Chart
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E-Mini: ES  NQ
Long or Short: Long
Entry Point: 1784   3506
Stop: 1782 3501
Exit Goal:1786   3511
Exit Goal 2 (optional): 1788  3516
Result: L and W
Notes: Liked the break of the prior short term down range. Looking for shorts to propel up. Had entry below at support or a break of the one minute high. Entry was the one minute high. ES stopped and NQ exit goal one. Move on the next trade one small loss. 
 

* 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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