Friday, September 8, 2017

NLNK - A nice Quickie, 30 Minute Chart

Trade: NLNK exploded today up 75%. Have no idea what the news was, nor do I care as I just look at charts, but this stock was on fire. When I entered the stock was already up 44%. The counter red bar/inside bar set up at the 5sma and this is what you call a satisfying quickie...as you can see by the one minute chart I attached, was in and out in 3 minutes! See how the volume jumped as the buyers came pouring in.

When I am in a trade's that takes a few hours to play out is when Ill look for other trades and have a few positions going at once- but one rule I stick too (after learning the hard lesson that greed doesn't pay off by over trading) is when I get gifts like this from Mother Market, and get my 2R goal in less then 5 minutes of work, I thank Big Mama and I turn it off for the day.

Entered off Bar #: 9
 DAILY & 30 Minute Chart

1 Minute Chart

MARKET DIRECTION 

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

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