Quick review of the 4 stocks I was monitoring this AM off gap list
- CGNX - took 5 minute high with .50 stop - nice win - took 2nd trade on candle 8 , bull flag off 9ema - .50 stop , small win
- MULE - wanted to enter 2nd candle (bull flag) with .30 stop - missed trade as had CGNX moving - entered at 5 minute high and took a small loss on the trade.
- PCRX - looking to enter at 5 minute high, was never taken out and no trade
- SNCR - never set up
- Back to bed for a quick nap!
IRA Account Tracking 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.