Quick review of the 2 stocks I was monitoring.
- 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.
- 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.
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.