Quick review of the 3 stocks I was monitoring this AM off the gap list. Focus is more Selective in the setups - taking trades in pre market high/low on stocks with higher volume and the tight range and waiting for setups with those looking to fade for at least 5 minutes (omer) with Daily charts that agree.
- Omer - 5 minute low on the fade out at even
- GES - pre market high on the nice volume winner
- Dri - 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.