Monday, January 12, 2009

Gap and go Short - VNQ

5 minute chart

(Double Click Picture for a Larger View)
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Stock:VNQ
Entry Bar: 2
Entry Green Line: 32.31
Stop Red Line: 32.77
Result: even to .43
Setup Grade
: B
Notes:Scale as you go, would have been stopped out on remaining shares. Later on it broke down, that is the way it falls at times. I used a 2 minute chart to shorten my stop, but that increases risk.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Learn to trade gaps

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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