SNAP Trade on Feb 7, 2018 10:38 from Emilie_BOWS: Tradervue User Stock Trades.

There wasn't much of a pullback but that was a good thing. As you already noted, a combination of positive earnings report, low float, clean daily breakout above long consolidation were the major reason for the move.

On the intraday chart, you need a flag or a 9 EMA or whatever pullback because you want to manage risk (to have a stop level) and hopefully time your entry in such a way that your trade will work soon enough. However, that's not the reason for a stock to move. Don't look too closely into the visual chart pattern to try to determine whether the trade would work or not. It may or it may not work, but as the risk is managed and the breakout is strong, you should win more money than you lose in the long run. Additionally, if you see price action is strong, a pullback shouldn't be deep so don't worry too much about losing, just get in.

Well, recent volatility is definitely great for day trading. Unfortunately, I was among the poor souls who got caught in the SVXY/XIV fiasco. I'll have to be on my best behavior for a while to recover from the damage.

@VinnyB: I regularly trade the E-mini Nasdaq and Russell 2000. Sometimes I also trade the ES and Gold futures. I only day trading them. I think the setups from BOWS work on market indices on strong trending days (like today March 22). However, those indices have more range-bound days than trending days. When a market is in a trading range, breakouts will likely fail so buy low sell high or fade failed breakouts work better than buy shallow pullbacks. ORB, red to green rarely work.

@Daranee: You always have very kind words for me ! Thank you :)
I have been swing trading stocks for some time and I like it a lot better. I've also realized how hard it is to day trading stocks compared with swing trading. Many stocks can make really nice move on the daily chart but it's often very difficult to catch a part of the move on the intraday basis. In order to make a day trading profit, you have to pick the right stock at the right time, have the intraday setup and the stock has to move far enough in the right direction before market close. I trade the futures version of SPY, QQQ, IWM so I only have to watch a selected few charts during the day. I don't have to scan and look for tickers all day long.

Another important reason for me to switch to futures is the leverage they offer. I like to trade the ETFs such as SPY or QQQ or popular large caps such as AAPL, NFLX, FB but they don't usually have big moves. I have to take big size position to compensate for the smaller moves but then I don't have enough buying power. When I trade futures, I can have smaller account while (hopefully) making more profits.