Quick review of the 3 stocks I was monitoring this AM off the gap list. Added DSW and COLL to swing plays for IRA tracking account.
- RKDA - going in the right direction but way to whippy - would need a 2 range - an 8% variance - (which would have worked)
- F - small lose at the open - ford ran out of gas
- SIG - took morning low for a short for and a win - missed larger runner on my second half as the high of the 4th bar took me out and then sold off into my target which a was 40.10
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.