Gap and Go Short- SRE

5 minute chart

Daily Chart

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Stock: SRE

Entry Bar: 2
Time Frame: 5 minute
Entry Green Line: 48.33 SHORT
Stop Red Line: 49.39
Result: 1.00 to 1.17
Setup Grade: B
Notes: Going a little against the grain but was leaning gap fill on the entire market. Wide stop/less shares. Scale as you go. Wanted to get short under 48.72 on the daily. If you held a little all day would have been stopped out at your entry......still nice gainer.

* 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 Opening Gap Fade - ES

5 Minute Chart - Entered at the Open

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Stock:ESM10

Entry Bar: Market order at the open Long
Entry Green Line: 1202
Stop Red Line: 1197
Result: 1207.75...plus 5.75 points
Notes: I have mentioned before that I use Master the Gap to determine if I will fade the opening stock index's. Master the gap gives probabilities for gaps closing every day based on patterns, seasonality and market conditions. I use these probabilities and other indicators to determine if I will fade a gap. I make maybe 4 or 5 trades a month using these probabilities. It gives me another setup but you must be patient.

Besides the favoring numbers and I also took into account the "bullmarket" and win ratio. I targeted the low of the previous day and got real lucky as it rolled over before hitting my target. Anther lesson in setting your target and not getting greedy. The greedy one's got it handed to them today.

Posting a trade from a reader over on the face book site as well. A ten minute gap and go.

One minute chart - TRN

Daily Chart

1 minute chart

5 minute chart

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Stock:TRN

Entry Bar: 6
Time Frame: one minute
Entry Green Line:26.51
Stop Red Line: 26.38
Result: .25 to .45
Setup Grade: B
Notes: Scale as you go...nice bar on the 5 minute chart...see how the one minute sets it up. Hold some all day, in this case shares you held would have been stopped out at entry.

* 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

" I have learned that winners shake off the bumps, don't cast blame or make excuses, and continue down the road with their goals and destination intact." - Hunter Scott 11 year old boy

Gap Fill and Go - FLIR

5 minute chart

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Stock:FLIR

Entry Bar: 2
Time Frame: 5 minute chart
Entry Green Line: 30.15
Stop Red Line: 29.74
Result: .59 to .69
Setup Grade: B
Notes:Nice prior day consolidation, scale out as you go. Easy play to follow and to trail a stop once you are in. Hot stock on the Daily

* 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 15 minute - CECO

Daily Chart

15 minute Chart

5 minute chart

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Stock:CECO

Entry Bar: 2
Time Frame: 15 minute
Entry Green Line: 34.63
Stop Red Line: 34 Low of the day conservative or 34.37 more aggressive
Result: .33 to .59
Setup Grade: A-
Notes: Nice move on the daily and consolidation on the 5 minute chart. Scale as you go. Could have left stop at the LOD or used the 5 minute chart for a tighter stop and in turn buy more shares. Out at the end of the day as usual.

* 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 15 minute - SYY

5 Minute chart

15 Minute Chart

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Stock:SYY

Entry Bar:2
Time Frame: 15 minute chart
Entry Green Line: 30.24
Stop Red Line: 30.11
Result: .09 to .23
Setup Grade: B++
Notes: Nice setup on 5 minute chart to time entry and place stop. Scale as you go...hold some all day with stop moved to entry. Ran a little and stalled, still a nice 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.

Gap and Go Short - CNX

Daily chart

5 minute chart

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Stock:CNX

Entry Bar:2
Time Frame:5 minute chart
Entry Green Line: 42.13 SHORT
Stop Red Line: 42.56
Result: .51 to 1.03
Setup Grade: B
Notes: Hoping it would break its previous low on the daily...it didn't but still a gainer, but could have been caught with double bottom on the daily, so a riskier setup. Scale as you go. Like to hold some all day with stop at entry...would have had that portion stopped 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

"the true test of a man's character is what it takes to make him quit"

Gap Fade Short - IOC

Another trade from a reader on Thursday...always enjoy when readers send trades....sometimes blogging can get a little old, great way to mix it up. Like they way he used a lower time frame to help place a stop.

30 minute chart

2 minute chart - stop placement

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Stock:IOC
Entry Bar: 2
Time Frame: 30 minute (2 minute chart to place stop)
Entry Green Line: 78.57
Stop Red Line: 79.96
Result: 1.39 to 2.90
Setup Grade: B+
Notes: Daily was way over extended and the volume was huge on
the first candle. I used the 2 minute chart to determine my stop. I used the last
green bar (bar 7) as the stop. I programmed this with my broker to take 1/2 @1R, then at 2R to
trail with a 1R 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.

Gap Fade Long - MGM

A trade from a reader on Thursday...always enjoy when readers send trades....sometimes blogging can get a little old, great way to mix it up.

10 Minute Chart

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Stock:MGM
Entry Bar: 2
Time Frame: 10 minute
Entry Green Line: 14.59
Stop Red Line: 14.27
Result: .32 to .44
Setup Grade: B
Notes: Casinos have been strong, so this plunge looked like a good
possibility for a gap fade. Though the volume did not exceed the previous day by a
significant amount, hence the low grade. I programmed this with my broker to take 1/2 @1R, then at 2R to trail with a 1R stop.

30 Minute Breakdown - DECK

Received this trade from a reader...this is from yesterday..Nice Trade

30 Minute Chart

Stock:DECK

Entry Bar: 9
Time Frame: 30 minute
Entry Green Line: 136.02
Stop Red Line: 136.78
Result: .76 to 1.52
Setup Grade: B+
Notes: Scaled out in three parts, 1R, 2R and 1.5R (as it retraced)..nice patience on this play and support from the moving average. Red candle a major plus. Even in a bull market you can make money shorting.

* 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 - UAUA

Daily Chart

5 minute chart

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Stock:UAUA

Entry Bar: 2
Time Frame: 5 minute
Entry Green Line: 21.00
Stop Red Line: 20.68
Result: .29 to .63
Setup Grade: B+
Notes: Nice daily chart, scale out as you go....strong market

* 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

"The word "crisis" in Chinese is composed of two characters: the first, the symbol of danger; the second, opportunity" - Anonymous

Happy Easter

Robin Hood - Trailer.....Cant wait, much like the movie Gladiator

While you've probably heard that over 95% of all traders don't make it. They either blow up their accounts or quit in frustration, wondering what happened and why their results were so disappointing. This can be over come, but you must take the mindset of Robin Hood.

The motto of the movie is "Rise and Rise again until Lambs become Lions"..The 95% who fail they are the lambs and the 5% who succeed are the Lions. At one point the lions are the lambs but they survive through pure perseverance of mind, discipline and patience.

Taking a week off from blogging as I go on couple of mini-trips...plus Baseball season starts..GO Phillies! See you soon.

Quote of the Week

"In this game, the market has to keep pitching, but you dont have to swing. You can stand there with the bat on your shoulder for 6 months until you get a fat pitch" - Warren Buffett