TMH on a move through $15.25 with add-on buy point of $15.50 on volume with an 8% stop loss (for a position trade, continue to monitor until it breaks out or down);
SHE on a move through $10.00 with a stop loss at $9.50 (for a 3:1 swing trade, continue to monitor as long as price action remains tight if it does not break out tomorrow);
IFLG on a move through high of previous day ($6.22), if open is within yesterday's range, with stop at the low of the current day or move to new high ground for the day after pullback if it gaps up with a stop loss at low of day or below other obvious support (for day trade);
CHOP on positive reaction to earnings announcement and breakout out from triangle pattern with price move through $6.75 with stop loss at $6.25 (for position trade). Trades like these can really make your year when they work out since CHOP could yield several points of reward compared to only $0.50 of risk per share. If it does trigger a buy signal I will risk more than the standard 2% R on CHOP.
Journal of my thoughts and trades on the path towards achieving a consistent monthly income from day trading!
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MY DAY TRADING RULES
I will ONLY put stocks BREAKING OUT OF DAILY CONSOLIDATIONS TO NEW HIGHS OR NEW LOWS ON HIGH RELATIVE VOLUME from my DAY TRADING SCAN into m...
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My experimental short position in GT has been closed out by my stop loss order for a loss of about $115.00 including commissions. However, I...
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I am of the belief that the markets will move higher over the course of the next 4-6 weeks. However, beyond that I am not very confident in ...
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I have narrowed down the stocks I want to own to two stocks: DECK and CMG. Need less to say, they both meet all the CANSLIM requirements. In...
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