Journal of my thoughts and trades on the path towards achieving a consistent monthly income from day trading!
Friday, May 21, 2010
Bearish close?
I do not like the market action heading into the close of trading. The markets are selling off steadily after a hugh upside rally for the better part of the morning. If my hands were not tied by the PDT rule I would have closed out some or all of my positions granted the markets do not rally powerfully into the close which seems unlikely at this point.
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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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I sold my two overnight positions early in the session and went to 100% cash. $VSAT I took a flat on after being up nicely at Tuesday's ...
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Although in some ways the PDT rule can be a curse in that it limits you from making more than 3 day trades in a rolling 5 day period. The li...
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