A Trade A Day

I’m playing it safe the next few days. I guess day trading isn’t generally considered safe, but I commit less capital to day trades. I’ve gotten to the point in my day trading where I only take a few setups that are high percentage.

I have a couple of examples to show you:

SYMC had a nice setup on the 5 and 15 minute chart. I don’t know how to describe this pattern. Basically, the stock opens and heads lower, reverses, and if the moving averages are supporting the price, I’ll take the trade over the high of the first bar. I’m sure someone has coined a term for it, but I couldn’t tell you. It doesn’t always work, but I have had some success with the pattern. Here’s another example:

AMZN also gave me a good setup. One more example:

Another good setup in QQQQ. Repetitive for sure, but that’s what successful trading is all about.

I don’t anticipate having any swings for a few days because I need to see more consolidation after Tuesday’s big drop. Tomorrow I’ll see about putting together some examples of losers. I find I always learn more from those.

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