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 my watch list. THE BIG PICTURE IS MY BOSS!
I will then wait for the stocks on my watch list to offer an ORB or TC SET-UP on the 5-minute chart before contemplating a trade
I will only place a trade if based on the next, nearest level of RESISTANCE/SUPPORT on the 5/30-minute chart; there is potential for REWARD that's at least twice the RISK that will be taken.
I will then WAIT FOR CANDLE OVER CANDLE CONFIRMATION before placing each trade!
I will not risk losing more than 1R on a single trade
I will not risk losing more than 2R’s on a single ticker
I will not risk losing more than 3R’s in a single day
I will wait patiently for either my stop or target to get hit or the market to close before exiting each and every trade. TRUST MY TRADE PLAN. TRUST MY EDGE!
I will work from 9:00am EST to 11:30am EST every week day
I will work from 1:00pm EST to 3:30pm EST every week day
Sunday, November 21, 2021
MY DAY TRADING RULES
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Closed out APKT position @ $27.553 for a loss of about $111.00 including commissions. So now I am back to 100% cash and waiting on stocks in...
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I was anticipating some sort of reversal at this point. May be it will still come tommorrow or sometime later this week. But for the time be...
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