Quote of the Week

"Wall Streets graveyards are filled with men who were right too soon."

_ William Hamilton

Emini ES - Breakdown

5 minute chart

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Stock:ESH10

Entry Bar:
Time Frame: 5 minute
Entry Green Line: 1097 SHORT
Stop Red Line: 1098.50
Result: 4 to 10 points
Setup Grade: B+
Notes: Several test, scale out as you go, nice support from the 200 SMA

* 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.

Emini ES - Fade off Confluence

5 minute Emini

1 minute Emini - entry

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Stock:ES Emini

Entry Bar: 10:19 AM
Time Frame: 1 minute
Entry Green Line: 1082.75
Stop Red Line: 1080.75
Result: 2.25 to 3.50
Setup Grade: B+
Notes: Nice hammer off of a sell off into the previous days low into confluence. Getting more request for Emini charts and will start doing more of these going forward. I following the 5 minute chart but use the one minute to enter many times with e mini.

* 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.

Five rules for men to follow for a happy Life

I couldn't help but post this, all in fun.


*Five rules for men to follow for a happy life:*

1. It's important to have a woman, who helps at home, who cooks from time to time, cleans up and has a job.

2. It's important to have a woman, who can make you laugh.

3. It's important to have a woman, who you can trust and who doesn't lie to you.

4. It's important to have a woman, who is good in bed and who likes to be with you.

5. It's very, very important that these four women do not know each other

Signed

Tiger Woods

Nice setup - didnt work out - COLB

5 minute chart

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Stock:COLB

Entry Bar: 2
Time Frame: 5 minute
Entry Green Line:19.56
Stop Red Line: 19.00
Result: small stop at 19.46
Setup Grade: B+
Notes: Not every trade is a winner but it's how you manage the trade. If you dont believe in stops then take a look at how this dumps, that red bar should have had the antennas up. Again its all about managing your risk, letting your winners run and keeping those losing trades to a minimal downside. This is great example.

* 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.

15 Minute chart breakdown - CTAS

1 minute chart

15 Minute Chart - 2 day chart

Daily Chart

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Stock:CTAS

Entry Bar:3
Time Frame: 15 minute chart
Entry Green Line:25.74 SHORT
Stop Red Line: 26
Result: .21 to .59
Setup Grade: B+
Notes: Nice trend on the 20SMA, Stop above the 20 SMA on the 15 minute breakdown.. One minute chart a nice gauge timing your entry and confirming. Hold some all day after scaling out.

* 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.

Quote of the Week

"If buying equities seems, the most hazardous and foolish thing you could do, then you are near the bottom that will end the bear market.

- Joseph Granville.

Wedge Buster - XOM short

Daily Chart

15 Minute Chart

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Stock:XOM

Entry Bar: 4
Time Frame: 15
Entry Green Line:67.66 short
Stop Red Line: 67.84 or more conservative high of the day
Result: .67 to 1.16
Setup Grade: B
Notes:I missed this trade, didn't chase, but would have jumped all over it if I hadn't been preoccupied in another trade. Total break down

* 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.

Gap and 123 pullback -BK

15 minute chart

Daily Chart

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Stock:BK

Entry Bar: 9
Time Frame: 15
Entry Green Line:30.12
Stop Red Line: 29.96
Result: .19 to 1.13
Setup Grade: B+
Notes: Nice daily chart, scale out as you go, nice support from the whole # 30

* 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.

Massachusetts Miracle

A reader sent this to me, excellent. I must admit its quite scary what is going on with our Government. Looks like things will be turning around.

One Minute Chart Breakout - AZN

1 minute chart

Daily Chart

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Stock:AZN

Entry Bar:7
Time Frame: one minute chart
Entry Green Line: 49.66
Stop Red Line: 49.57
Result: .25 to .90
Setup Grade: B+
Notes: Nice daily chart, small risk, nice condensed setup. Scale out and hold some all day.

* 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.

Quote of the Week

" Whenever you see a succesful business, someone once made a courageous decision."

- Peter Drucker

The Green Mile

Here is an underrated movie that makes a great rental. I love movies that portray the underdog, that teach a lesson from a point a view you least expect. If you havent seen the movie you will not be disappointed.

In regards to day trading, it goes back to what I preach, no matter what the obstacle find a way to get it done. In the story of the turtle and hair, its the turtle who always wins in the end through patience and dedication by taking it one step and day at a time.

One Minute Chart Breakout - MTL

1 minute chart

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Stock:MTL

Entry Bar: 10
Time Frame: One minute chart
Entry Green Line: 23.73
Stop Red Line: 23.49
Result: .25 to 1.00 plus depending on your scale out plan
Setup Grade: B +
Notes: Scale as you go. These are not for beginners place those stops and scale out as it goes your way.

* 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.

How To Pass on a Trade - BIDU

Daily Chart

5 Minute Chart - nice first bar

One Minute Chart -

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Stock: BIDU

Entry Bar: none
Time Frame: 1 or 5 minute time frame
Entry Green Line: 427.12 SHORT
Stop Red Line: 443.20
Result: no trade
Setup Grade:
Notes: As you can see on the Daily Chart BIDU was gapping into a top. I was looking for a short setup. While it looked great on the 5 minute chart I shied away with the one minute chart looking very extended. Stay picky with your trades and never chase. Missed money is better then lost money.

* 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.

30 Minute Outside Range Breakout - PRGO

30 minute breakout

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Stock:PRGO

Entry Bar: 11
Time Frame: 5 minute
Entry Green Line: 40.38
Stop Red Line: 40.17 or more aggressive 40.27
Result:
Setup Grade: B
Notes: Now this poped up on a scanner I run for a 5 minute gap and go. It set up for a nice 30 minute breakout with the 123 touch. Could have place your stop many places. Daily wasn't very promising but the previous day's hammer gave it a push. Scale out as you go let some ride all day

* 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.

Gap and GO - CVX

Daily Chart

5 minute chart

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Stock:CVX

Entry Bar: 2
Time Frame: 5
Entry Green Line: 80.34
Stop Red Line: 80.05
Result: .32 to .75
Setup Grade: B+
Notes: Scale out as you go, great example of why you scale out.

* 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.

Quote of the Week

"With an individual stock, you absolutely have to have a stop-loss point, because you never know how far down the stock is going. I remember selling a $100 stock one time and it eventually went to $1. I didn't have any idea it was going down that far, but what would have happened if I had held on to it? One mistake like that and you can't come back."

- William O'Neil

1 minute insidebar breakout - VECO

1 minute chart

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Stock:VECO

Entry Bar: 4
Time Frame: one minute
Entry Green Line: 35.25
Stop Red Line: 35.05
Result: .69 to .85 or more if you held some longer.
Setup Grade: A-
Notes: Scale as you go. This may look easy but they are not. Once in the trade you must first quickly place your stop, monitor your trade and scale as you go. One minute charts can whip around quickly. They don't always work out this way. This also set up on a 5 minute gap and go. Nice daily chart as well.

* 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.

30 Minute Outside Range Breakout - WLP

Daily Chart

5 minute Chart - entered at the break

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Stock:WLP

Entry Bar: 18
Time Frame: 5 minute
Entry Green Line: 62.75
Stop Red Line: 62.29
Result:
Setup Grade: B+
Notes:Takin a few minutes ago, here is where I placed my stop. Went with the wider stop and will scale out as I go. Room to move on the Daily chart

* 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.

One Minute Chart inside bar - CREE

One Minute Chart

Daily Chart breakout

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Stock:CREE

Entry Bar: 3
Time Frame: one minute
Entry Green Line:57.52
Stop Red Line: 57.21
Result: up to .82
Setup Grade: B
Notes: Here is one I missed by the blink of my eye. 3 years ago I would have chased but you learn over time to maintain your discipline no matte how painful it feels to watch it run away. (missed money is better then lost money)

Nice break on the daily Chart and inside bar setup on the one minute chart. Again one minute charts are not for everyone. Must be quick to get in, scale out, and to set your stop.

* 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.

30 Minute Outside Range Breakout - F

Daily Chart

5 Minute Chart

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Stock:F

Entry Bar: 10
Time Frame: 5 minute chart
Entry Green Line: 10.71
Stop Red Line: 10.62
Result: .17 to .24 or more if you let some run all day
Setup Grade: B+
Notes: small risk, nice breakout on the daily chart as well, hold some and let it run all day. I still think anyone owning any car company (gm or F) long term is nuts, but what do I know, still great to day trade!

* 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.

1 minute chart breakout - SWKS

1 minute chart

Daily Chart

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Stock:SWKS

Entry Bar: 4
Time Frame: one minute chart
Entry Green Line: 14.60
Stop Red Line: 14.53
Result: .07 to .20
Setup Grade: A-
Notes: Happy New Year, it was good to take a break from blogging. Now on my 3rd year. Alot of nice setups this morning as the market moved. Here is a one minute chart breakout with a nice break on the daily chart as well. Scale out as you go for this small winner. Again it all come back to managing your trade, take what the market gives you.

* 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.

Quote of the Week

Love your enemies, for they tell you your faults.

- Benjamin Franklin