Friday, May 4, 2018

Morning Gap Trade Reviews

Quick review of the 2 stocks I was monitoring.

  1. msft - missed the 1st entry at pre-market low  - took a 2nd entry at the 3rd bar inside bar for a break of the low and 93 and stopped at break even.
  2. crc - strong gap up  and consolidation on 1 minute chart at the whole # 30 - one setup I look for is consolidation near a whole number. Got the break for a nice winner. 

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