Thursday, May 11, 2017

30 Minute Trades: TTWO and YY - and MoneyBall movie Clip

Here are two 30 Minute Trades:

First is from today, Wednesday TTWO: Nice Breakout on the Daily Chart and Narrow range bar on candle 7 and pop goes the weasel for a 2R winner.

Second is from Tuesday and was a losing trade and a bad trade on my behalf. YY was a little extended on the Daily Chart, breaking away and being 3rd day of continuation but still trade-able. The mistake was not following my rule. On Bar 8 I entered BEFORE the high of the candle was taken out. The high was 55 so entry should of been 55.01 or higher. I jumped in at 55 - because I felt it was going to break - was wrong and slammed for a 1R loss. Nothing stings more then a loss the comes from breaking your rules. Didn't get the trigger. Good wake up call when getting cocky and jumping in early. 

Scene from movie of the week Money Ball

Great Scene – Hatteberg, who was a long shot to make the team, caps off the record breaking 20th win in a row after trailing 11-0. It’s like when you’re in that trading zone and everything is falling in place with your discipline, trading plan, entries, and exits. All that hard work comes together.









* 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