Thursday, March 29, 2018

Morning Gap Trade Reviews

Quick review of the 2 stocks I was monitoring this AM off the gap list. Nothing gapping of interest mainly monitoring daily bar list for a break through or pullback to support/resistance area. (I mark my charts the night before with areas price had trouble getting through as these are support and resistance lines to fade)
  1. Sho - pullback to support - took high of the candle for a nice trade
  2. mkc - still in the trade - took the short at resistance target is Low of the day or stop is high of the day.

TRADING PLANS 



* 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.

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE