Stock Futures Spike Buy or Short Sell? 4.6.20

Stock futures spiked higher ahead of what many expect to be a rough two weeks for the world.

Watch: Stocks for Breakfast

Although moving averages have caught up with the violent selling, I'm still using weekly candlestick charts to read the tape.

Today's video focuses on the one trading tactic that instantly makes you a better trader.

Master this principle, and you leave amateur status behind. 

This trading lesson covers trade management. Specifically how professional traders "work the keyboard." In a perfect world our trades move exactly as we planned. 

But we know trading is about stacking the odds. It's not about being right. 

To trade profitably, we only need price action to be perfect most of the time.

Today we answer the question: "How to manage trades that don't perform as expected."

Trading Game Plan 4.6.20

The stock market consolidated the previous 3 days so we came into the day in breakout mode. Not calling direction but an expansion in volatility,

We are looking for a larger green or red candlestick today, and an opportunity to hold stocks to the close. Maybe for a few days.

I'm not initiating new swing trades, unless a trade closes near the extreme for the day. If the stock has profit potential, I will consider the swing trade.

MRNA remains on my list of longs today. We also review 6 stocks that consolidated on Friday looking for big days.  

New Show​: Ask Me Anything | Episode One

Also​: Get today's complete game plan

Have a great day.
Pete