Just wanted to make a quick post to track my trading moves for the day. I woke up a bit late into the trading day, around 12 noon EST. Overlooked the market for 45 minutes, looking for my ideal setups, but didn't find my favorite patterns so decided to stay out - I don't want to over trade anymore, so I'm very picky with my trades.
Later on, I looked at the market again, a few minutes before the market close and found a few stocks that matched the multiday pattern of going from red days to a Green Day, signaling a possible trend reversal. Placed an after hours limit order of IMGN at $6.31, with support around $6.24 limiting my risk, expecting an ideal bounce of 10 - 15¢ within the first few minutes of market open tomorrow. Unfortunately, my limit order was never filled, and I refused to raise my bid, as I don't want to chase any plays. Nevertheless, I'll keep an eye on this stock early tomorrow, to see if it goes according to my expectations. $EPIX & $CRHM also showed this same pattern, so I'll be watching their overnight bounces.
Also, studied about three hours during the day. Overall, a fairly productive day, even if I didn't actually make any trades. It's better to stay out of the market when (1) you see no plays OR (2) you would need to chase a play in order to get filled. Trade wisely.
7/24/17 Trading Progress Log