Quick review of the 4 stocks I was monitoring this AM off the gap list. Active morning, couldn't find time to get to my cheerios.
- W - entered twice with too tight a stop on first entry and whipped out when entering at pre-market low. Re-entered at 5 minute low with a wider stop for a winner
- SGMO - Missed the break of pre-market high - took a trade and a small winner at Bull flag off 9ema at candle 9
- AIMT - no trade
- SPXS - this was the Gap short of the SPY - I trade the SPXS for shorting the SPY which is a mirror version. Sold half at mid gap fill and stopped at low of the day (yellow line)
IRA Tracking Account vs SPY 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.