It’s time once again to take a look back and review some trades from May now that the month is over. Trade reviews help us identify some common themes among the plays which are working best, which helps keep our focus in the right kinds of stocks.
So today, here’s a look at some of the single-day plays from May which worked out well. I like to trade on both the day and swing timeframe, so these single-day plays are in my view the cashflow trades which get me through the week – especially during this past month with the broad market so choppy and swings having been tougher to locate.
These single-day plays generally have daily charts looking ripe for a move, but are not high-quality swing setups. By grabbing them for trades lasting from a few minutes to a few hours, there’s some good opportunity to capitalize on without incurring much risk at all. In fact, on nearly all my single-day trades, I’m only risking 1% from my entry, which keeps losses small when they happen and allows for a nice multiple of that on the profit side when trades get going.
These kinds of trades are shared nightly with Bandit members, and I tend to turn to them when I don’t trust the chart or the market for a lasting move, or when the bases are too loose to justify a much wider swing stop. Once in, I look to ride any existing momentum or follow through by way of the intraday chart.
Understand that although the charts below highlight winners, I do take plenty of losing trades. Those of you who read my posts know the importance I place on losing properly, as losing trades are part of trading. By sharing the charts below, my aim is to shine some light on the best kinds of plays working for me lately.
This is not a comprehensive list at all, as there were many more trades in the 1-3% range which added up nicely. But this will give you a snapshot of the kinds of plays I take for the single-day timeframe.
May:
In recent weeks, I’ve focused on lateral level breaks, as well as pivots from descending and ascending trend lines.
You may be wondering…is a membership worth it? Well, it starts out with a free trial and then you get plays like those listed above. Absolutely, it’s worth it. But on top of that, I’m always available to help out members here. If you want to tap into my experience and improve your approach, I’d love to work with you.
I dig out the best setups in the market each day, structure my trading plan for the following session, then share those trades with members via the nightly report. They include swing trades and single-day trades like those above. Not only am I explaining where I’m looking to trade them, but I also explain why I’m looking to trade them. So if these are the kinds of plays you like to take, you now know where to find them.
Give it a try today. Start making more from your trading!
Trade Like a Bandit!
Jeff White
