For those of you who wonder what the heck is a MOMO trade and how do I find my day trades? Scanners. PM (Pre-Market) and AH (After Hours) gappers and movers. I like Finviz, Benzinga, Market Chameleon, Marketwatch, there's tons. I watch volume, percentage change, candles... https://twitter.com/ElaineBenes99/status/1295541506997202945
...and catalysts; what's moving the stock? Is it news or simply a large influx of day trade groups? Not a damn thing wrong with riding the MOMO created by the day days...just make sure you don't get trapped when they all pull out 😉 This is why I don't share my day trades....
...because unfortunately too many retailers simply don't know how to effectively day trade and convolute a swing with a day. Fundamentals don't matter much. You don't fall in love with the stock and you don't get greedy. You take a position, ride for a bit and CLOSELY watch the..
...Level 2s and the candles burn. And once you've been doing it a while you'll know when the wave is cresting & you pop out taking your wee bag with you. Unfortunately too many get caught on the crest and slammed to shore. BTFD becomes the mantra.
So, if you wanna give it a whirl (you need 25K min or you get your 3 day trades a week and work up to it), take it one or two at a time. Practice precision hits. Cold and calculated. In and out. If you're used to holding bags, this is gonna feel weird but amazing.
Yeah...they keep running many times. Especially at first when you're learning the feel of it. Don't watch. Just take your gains and roll into the next wave. And be prepared to scratch (out with no gains no loss). In and out. Hit and quit. Bon chance!💋
You can follow @Sarah_Katilyn.
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