Quick review of the 4 stocks I was monitoring this AM off the gap list. There was some quick moves out of the open.
- NVDA: Entered the pivot before pre-market high and took a small loss. (when it popped up I tighten my stop) - reentered after candle 4 - out at break even despite it moving higher after shaken out - nvda is not an easy stock to trade
- BZUN:Took the pre-market high with a wider stop (.70) and captured nice winner
- YY: took a nice drop out of the open - no setup to enter
- GLYC: no setup to enter
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.