March Recap:
March was more learning experiences. The BIG takeaway this month was know when to step away and be strict on my red day limit and try to not overtrade having less total trades at the end of the day. I had two days that were well beyond my max red day limit.
New strategy rules:
Every morning before trading read Strategy Rules and Share Size Guide!
1. Work to not overtrade whether green or red. Shoot for somewhere around roughly 20 trades per day.
2. Do not trade full size immediatly on the open. Trade 1/2 size until a stock proves itself in a true momentum upward trend. This new strategy/rule prompted my new Share Size Guide. Be aware of how many NHOD legs the ticker is on. If 3+ trade half size or smaller.
3. Do not trade full size or at all on stocks fading on the open. Or on any stock that breaks the pre-market/open support level. Let them prove themselves into an upward trend breaking resistance or NHOD (which is your ideal setup) before trading full on and full size. If you try for a quick bounce play wait for the selling volume to fade in comparison to previous volume and do not stay in the trade long. Move to break even on these trade setups asap. See new Share Size Guide.
New Share Size Guide (referencing my March trades and older as well as outcomes from those trades):
Market Open - Half Size
Confirmed Upward Trend (Open/MD/PH) - Full Size on 1-2 legs and 1/2 Size or Smaller 3+ legs (volume should be hitting equal or higher previous NHOD volume and if not follow up with move closer and take profits early)
Confirmed Upward Trend Pull Back (Open/MD/PH) - Full Size or Half Size (watching volume)
Downward Trend Bounce Play (breaking previous support) - Half Size or Smaller (if large red candle pull back possibly use even smaller size, one or two attempts max)
Breaks VWAP or Pre-Market/Open Support Zone - Zero Size (if sell volume is low possibly enter with very small size to test, one or two attempts max, if the stock continues to break support zones or moves above open zone then back below a second time be done with the ticker unless confirmed upward trend occurs later)
Top Gapper NHOD MD/PH Play - Half Size or Smaller. (wider stop around previous support & move to break even once new support formed, one or two attempts max)
