Quick review of the 4 stocks I was monitoring this AM off gap list
- WMT- strong sell off and waited for a break and close below support on 2nd candle. 1.00 stop - sold half and stopped out with 2nd half at entry - just missing the continued sell off
- SNAP- strong drop on daily, risky as still above 20ema on the daily chart - took trade on 3rd candle with close below moving averages and vwap. Stopped out - in hind sight broke a strict rule of never shorting stocks above their 20 day ema.
- SHPG- never broke down nor set up
- ROKU - never set up
(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.