That leaves me with a couple day trades a week if I want to stay away from violating the PDT.
The first hour of the trading day and the last hour of the day are were most of the action is. On the west coast that's a schedule of 6:30am at the open and 1pm at the close.
My family schedule doesn't match well with the opening and I'd truly need to stay up throughout the night to ensure that I don't miss it.
I also drive my oldest son to school in the morning, start work at 11:00am, and spend most of the trading day on my mobile.
I'm going to try this method for a bit:
7:30 -8:00, scan my watch list for any plays that are moving and if there is a solid entry ie breakout
8:00 - 9:45, monitoring trade on mobile while taking son to school and errands
9:45 - 10:00, chance to check trades on ToS with indicators
11:00 - 1pm, I'll be mostly on my mobile at work and if I don't have a trade in play by 11:30 I may look for an afternoon position.
I don't plan on holding overnight and I'm looking for smaller percent gain to increase my odds of walking away with a profit. I'm going to start with a goal of 4% to 8% and taking positions of roughly $10k. That will allow the smaller percent gains to mean more.
I have no idea if this will prove to be helpful with creating some consistency with my trades but I just don't feel like the overnight hold is working for me.
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