Quick review of the 3 stocks I was monitoring today. Took a long in SPY / spxl off the 60 minute chart for the IRA tracking account. Trailing with the low of the last 60 minute bar.
- pump - no setup - no volume
- Dis - scalp 1 minute chart - short off the days high resistance for a winner
- gwph - no setup
- Msft - pre-market high scalp for a small winner.
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.