Sunday, June 18, 2017

Happy father's Day and a 30 minute candlestick trade PI

 Happy Fathers Day to all fathers and I'm sure a few mothers who do double duty. My creative, honest,  big hearted 15 year old continues to humble me with his maturity and creative gifts as he is light years beyond where I was at his age. In my other field of work  I was recently asked how I got good at what I do. The answer was easy - my son. Before him I was average but once he came into my life it changed. For his first five years I was able to take him to work with me parts of the day. One of my departments was designing kids programs. I basically designed them all around him and improved the existing programs them so they would be top quality for him. Before I would just roll those programs out there with average results. Now my focus was on top quality and something changed. My program revenue rose dramatically, along with my monthly bonus. I look like some hero but it was my son who was the hero. All the while he got to crawl/run/ swim around the gym with dad at work and he made it fun for even my employees. They enjoyed him (even changing his diaper) which in turn made me more appreciate of there efforts and improved my supervisor skills. He basically taught me how to do my job at a higher level, be a better supervisor and then he became the reason to learn to trade. I thank God every day for him as without him in my life I wonder where Id be.

One thing on my near term list is to write a memoir for him and his kids and do it while I'm young and not 80 with my memory half gone. The card he gave me today will be in that memoir.  I recommend all moms and dads reading this to do the same. and make a memoir for your kids. Start it early and give them all the juicy stuff and add a little each year - the ups and downs and life lessons and hide it away until they are much older to appreciate. My grand parents did there's later on in life and is an interesting read.


 

Trade: PI - slower week for trading. Here was a strong break out on the daily chart (left) followed by a pullback counter bar off the 5sma. See the heavy volume as well.

Entered off Bar #: 6 - counter bar



MARKET DIRECTION 

SPY 15 minute 5,10, and 20sma:flat
SPY 15 minute 200 SMA: flat

TRADING PLANS 




* The market direction refers to when the trade was entered. Up is all three SMA trending Up, down is all three are trending Down, Mix is mixed or choppy market to then refer to 200SMA for preferred market direction)

* 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