Monday, October 24, 2016

NQ Gap and GO



NQ 5 Minute Long

Entry 4881 (of if waiting for 15 minute break take at 4883.75

Stop: 4876

Exit Goal: 4891

Nice gap up of the NQ (see how explodes up on daily chart to the left), didn't make this play as I usually sit out the first hour of the day on the west coast and try and wake up first. These are nice plays when the daily chart agrees.




* 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