Quick review of the 3 stocks I was monitoring this AM off the gap list. Nothing on swing setups, kang and beat will remain on watch list for tomorrow.
- DKS: nothing setup at open - 4th bar presented an opportunity at the support line and 5 minute low - missed entry for what would have been small winner
- MU: had order to enter at open to enter 62.22 with max of 62.29 and it ran away from me and exploded at the open for no entry - didn't chase - waited for 5 minute high and to time with the one minute candles, ran up missed scaling out 1/2 , moved stop to just under entry for a small loss
- QCOM - nothing
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.