Quick review of this morning trades.
- BILI - 3 trades this morning - 1 minute high break at .50 and the inside bar break at the whole # break. .20 goal and .10 stop on both. Pre-market high -ran .12 and stop to even.
- ON - took the pullback late in looking for one last push up - missed exit by .01 and stopped at even - there were a few prior entry points.
- LB - waited for the pullback and near the vwap - took a small loss of .05
- Hints/Tips: - Whole #'s and half #'s .50 - prevent valuable points to watch for resistance or breakout points. Once I get the break I tighten my stop quickly as if these can roll over quickly with a false breakout.
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.