Wednesday, May 16, 2018

Morning Gap Trade Review

Quick review of this morning trades. 

  1. MTDR- gapped down after popping up on the scanner - broke through the pre-market low - took the pullback on 1 minute charts for a small winner
  2. AAPL - shorted the pre-market low - by the looks of it should of been easy winner with .20 stop and .30 goal with the fast moving AAPL - screwed up my order and somehow took a small loss - made the mistake of still searching for candidates right up to the open and then rushed my order 
  3. BZUN - popped up on the scanner, pullback to the VWAP - missed my entry 
Hints/Tips: 5 minutes before the open pick the 3 or 4 stocks to monitor at the open - set orders and be done with it

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