Quick review of the 4 stocks I was monitoring this AM off the gap list.
- TTD - Again got whipped out with too small a stop on this fast mover at the open.
- SPXS - playing the SPY short gap fill with the leveraged SPXS - sold half at mid gap - current stop low of the day
- OLED - sold off the over head resistance - red candle #4 closed down stongly, took a wide stop with the close below the VWAP and moving averages, support below was a concern but 4th time at this area and got the break down - nice win
- HPQ - Candle 7 - red bar close below the VWAP set up a nice trade that I missed
IRA Tracking Account vs SPY Update
(Current Trades and results- click below - vs S&P 500 Index)
Stock Trading Plan: http://www.howidaytrade.com/stock-day-trading-plan.html
E-Mini Trading Plan: http://www.howidaytrade.com/e-mini-trading-plan.html
* 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.