Right now, I’m focusing on seeing if I can follow VERY simple trading rules consistently, starting with paper trading.
Ordering
1) 100 share positions, market orders.
Entries
2) Long all stocks on gapper watch list that break the 15 minute opening range high (ORH).
3) Short all stocks on gapper watch list that break the 15 minute opening range low (ORL).
Stops
4) Immediately place a .20 cent stop loss on ALL stocks after entry.
5) After stock moves 30% of average daily range in my favor, place a trailing stop of 30% of average daily range.
Exits
6) Let stops hit or exit end of day.
Overall, I am hoping to work on issues of hesi-trading, not using stop orders and not staying in trades too long.
I will post my trades after 4pm or later in the evening with a focus on my behavior and not much as paper profits.
