How long would you wait to start trading on the day?

If you’re answer isn’t “as long as it takes for the VWAP to give me a trade”, then you need to rethink how your strategy.

Listen, trading is boring.

And yesterday’s session of the Warlock’s World proved that for me.

Iveric Bio Inc (ISEE) hit my radar well after the opening bell yesterday.

But when it did, I could see it was consolidating, showing strength and was a perfect set up for a buy.

Those that followed me into the trade were able to ride the stock from the VWAP at $13 all the way up past $15 in the period of just one hour.

Buy 100 shares of a $13 stock, make $2 on it, and you have yourself a $200 day.

Pack it up, you’re done for the day and can head home before 11 am.

On the other hand, for those that bought when we sold were just hoping and praying for the stock to go higher.

Those that did that are gamblers. Plain and simple.

Hoping and praying gets you nowhere. And it puts you on the bad end of a trade.

Price doesn’t lie, and the last thing you want to do is get caught up into the FOMO of a news break.

Patience is absolutely necessary when you’re day trading. Wait for it to come to you and don’t let boredom set in.

When you are just trading because you’re bored, you can make dumb moves that blow up your account.

Trade the VWAP, wait for your trade and you can’t go wrong.


Comments

Leave a Reply

Your email address will not be published.