Friday, January 3, 2014

ES Breakout Long


ES 5 Minute Chart
.
E-Mini: ES
Long or Short: Long
Entry Point: 1832.50
Stop: 1830.50
Exit Goal: 1837
Result: L
Notes: Setup well except the with the NQ. Take the stop and move on. I usually like all 3 indexes in agreement before taking a trade. I took the trade with the trend and the early strength anticipating a snap back covering from yesterdays down day. Good setup, didn't work 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 board.

 

 


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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