Monday, October 17, 2016

BP 15 minute short



Stock: BP - 15 minute chart
Entry Point: 35.58 short
Stop: 35.69
Exit Goal: 35.33
Result: plus .12 or 1R
Reached 80% of my goal and pulled stop to 1R. As stated in my business plan I take the quick gains. Liked the bounce off the 8SMA and staying with the early weak trend. The daily chart was strong but shows a pullback and the market was weak as well. AMZN had a nice play as well.



* 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