Wednesday, January 22, 2014

ES Fade Long



ES 5 Minute Chart
.
E-Mini: ES
Long or Short: Long
Entry Point: 1836.50
Stop: 1834.50
Exit Goal:1838.50
Exit Goal 2 (optional): 1840.50
Result: Even
Notes: Missed by a tick fading at the same spot 30 minutes earlier. In this trade missed exit goal by a tick, stop moved to even and was stopped out. Trade ended up working out. I keep clear cut unsubjective rules for when I move my stop up. Have no regrets, its part of the game.
 

* 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