Friday, January 3, 2014

YM Fade Long

YM 5 Minute Chart
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E-Mini:YM
Long or Short: Long
Entry Point: 16380
Stop: 16360
Exit Goal: 16420
Result: W
Notes: All 3 indexes at support after a move down. YM acting the strongest at gap fill support. Ticks agreed. Just missed extended target after capturing 20 points.

* 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