Day Trader’s Aftermarket Lounge 14 Oct 2020, page-38

I have now stopped trading the stock that gets found by someone on the day. I now select a bunch of stocks (less than 5) prior to the trading day and then look for action, entry/ per plan and consideration of any other information that comes on the day. I then trade them. I also have a watchlist of stocks that I know and understand, that I keep an eye out for any action that might present a risk/reward opportunity.

I have tried trading stocks that have announcements on the day... and are sort of runners on the day, with plenty of action....basically a stock i don't know much about except the everyone rallying on the forum. As much logic as I could use for entry exit, it helps....but frankly for me it has been luck of the draw. Sometimes they retrace, sometime they don't. Sometimes they retrace beyond the your entry, to the point that you exit, only to go back up again....

So you can don't have to find the stock on the day to day trade....

Also note, I am not a legend yet... this is based on my limited experience and basic knowledge of trading in general.

If you can help me with ST....that would be great! I just struggle to hold the stock....not sure why....

All the best