Quick review of the 3 stocks I was monitoring this AM off the gap list. Passed on swing setups, volume was weak and stocks extended out of the open. One trade today - stay picky with your setup's, only need one trade a day. Goal is not to trade - goal is to take solid setups trades.
- QD: nothing set up
- MU: Took out of the gate for a winner. Entered at pre-market high after tight consolidation. sold out a little early on my 2nd half but still a winner.
- OCLR: nothing set up
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.