Sunday, May 21, 2017

Three 30 Minute Trades: ATHN, FTNT and LL

30 minute bar trades. 1 winner and 2 losers - 2nd loser is an example of forcing a trade.

Athn: Nice inside bar on bar #8. No resistance above. High % trade
 


FTNT:  Entered Bar 8 and as you can see the next bar took off with the 10sma support, looked like a nice winner and then the bottom dropped out with the red bar and the buyers drying up. Would still take again as long as the market as a whole is strong.

LL: Just not a good trade. Prior bars all had tails showing sellers were in control at those levels. I entered bar 8 and at minimum should have waited for the resistance at bar 8 to clear. Low % trade sloppy trade.
 




* 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