Thursday, January 23, 2014

ES Pullback Short

ES 5 Minute Chart
.
E-Mini: ES
Long or Short: Short
Entry Point: 1822.75
Stop: 1824.75
Exit Goal:1820.75
Exit Goal 2 (optional): End of Day or 1815.25
Result: w
Notes:Not the type of day to look to fade Long (i dont fade against gap and go days) and just missed the gap and go short. Took pullback to resistance. Two points and will let the rest ride with stop at even.
 

* 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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