QCOM in a down trend, nice weak 30 minute red candle off the pivot and moving average.
Enter low of the candle - stop high of the candle - target 1R or trail with each candle's high to help maintain discipline.
Cant stress enough waiting for good setups and scanning Daily Charts nightly for candidates trending Bullish or Bearish.
Here are are 3 stocks on my radar to trade Tuesday (markets closed Monday :( .... RGLD, CA and QCOM again .... take a look at their Daily Charts and the strong trend down. If you don't have the time or patience to wait for candle setups to form in the first 2 hours of the trading day, you can always trade off the Daily Candle. I explain more in my trading plan.
* 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.