Saturday, September 16, 2017

30 Minute Candles - 4 Trades for the Week - 2 winners / 2 losers

Trade 1: ARR - strong gap up with volume and inside bar off the 5sma - ran out of steam and small .5R loss.
Entered off Bar #: 6


Trade 2: SIEN - strong gap up with volume and inside bar at bar 3 - nice explosion up for a 2R winner.

Entered off Bar #: 3


Trade 3: BZH - similar to above, strong gap up with volume and inside bar at bar 3 - nice explosion up for a 2R winner.

Entered off Bar #: 3


Trade 4: FSLR - strong gap up with volume but miss read the candle. The red counter bar was not a full inside bar. My entry bar was .02 larger then the previous bar. I eyed up the candle, an didn't use the Data box to confirm. Took a .5R loss as the stock jumped up and ran out of gas. I will take a red counter bar, that is not an inside bar, with a gradual pullback to support.

Entered off Bar #: 9


* 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