Quick review of the 4 stocks I was monitoring this AM off the gap list. 2 nice winners and just missed a 3rd.
- SPY - trading at resistance - stopped out by .02 and then rolled over to my target of 257 - small loss
- FB - wasn't able to enter, was in 3 trades but nice break of the support on bar 3
- LYV - Daily Bar trade, traded into resistance - again just missed full winner by .02 but still a nice gainer
- ALK - Daily Bar trade, traded into resistance - enter low of the trailing bar for a trade right into my target nice winner
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.