Monday, July 22, 2019

GNTX Buy zone and Continuation Setup - stick to your rules

GNTX off the newsletter watch list was all over the map. Opened mid buy zone and I passed. I usually pass on an opening mid zone or take a much larger stop as they can whip around with mid zone entries. GNTX Traded up to the Trigger point (previous day high) and setup a trade with the inside bar and rising EMA support.(red arrow) Entered trade with the target the R1 - went half way, moved stop to entry and taken out. Trades back to the buy zone and explodes up (I pass after a zone is tested. ) and hit my original target on the Trigger setup at R1. GNTX did what I hoped it would but with a different road map and outside my rules. I stick to my set rules, to keep my sanity. Sometimes I miss out and sometimes I save a little. In the end it all washes out.


HOW I DAY TRADE - MARKET NEWSLETTER The Newsletter is a service for active traders with a focus on short term Buy and Sell Zones and is provided for educational purposes. The purpose is to educate traders on short term trading setups through a two-step process of selecting Daily Charts and applying intraday trading setups. Always use a Stock trading simulator to test, master strategies and become more educated in the markets before risking real money. Become successful on a simulator for a minimum 6 months before risking your money and always use a stop. If the markets conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. A missed trade is better than a losing trade.

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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