Trades Review for 4/21/2015

Gappers I was watching this morning. BIOC, BCLI, LJPC and VLTC

 

Trade Reviews

LJPC - Stocks usually dip at the open and once they cross over vwap , I look to buy on the second or third candle confirmation. I missed the first entry. The stock broke the top line, pushed but came back and I entered on the test of the top line, it held and came back up. I got out at half dollar mark which happened to be slightly above the HOD.

BIOC - I was anticipating pop at the open, push and then get short. I waited for the break of the red line and test. It did exactly that. What added to my confirmation is it didn't hold above the vwap. I got out at the point that was yesterday's high and I felt this might act as a support area.

Rules of Trading

Here are a list of rules I am working on  as I get to know more about myself and my trading. These will change from time to time and I will continue to add them as time goes by.

1. Stick to your plan
2. Respect your stops. Do not exit pre-maturely before the stop is hit and no reason to exit
3. Use 2 min and 5min chart comparison to get a better entry. Then use the 5 min to exit to give you the patience
4. Before taking a trade, view the stock on a longer time frame , 15 min, 30 min and 1 hour on 2-3 days to get a bigger picture of the support and resistance areas.

Trade Review for 04/16/2015

Below are the stocks I was watching at the open. INVE, ROSG, NUGT and CLSN

 I took  a long on ROSG as I thought it was flagging with decreasing volume or forming the abcd pattern if you add the per-market part of the chart. I was wrong and instead of concentrating on the gapper strategy, I got distracted. The ideal entry for short would have been as shown by the green arrow below. This broke the red line, retested and failed. I am still learning on how to follow a plan and not deviate.