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- Trading right at the open or just a few minutes prior to the close always adds risk. It is recommended new trades should not be taken on initial setups for the first 5 minutes the market is open. (especially right after the market opens).

- Take only the opportunities that you really like and understand. If you don’t understand any part of the trade please contact me and it will be my pleasure to assist you. There is a much greater chance of success in your trading if you understand the trade.

- If an open trade opens in its stop area (gap up or gap down) the recommendation is to wait for the first 15-30 min and if the trade breaks the initial high or low it should be closed. It is important to check for potential news (earnings, important economic reports) and manage to protect yourself from gap risk.

- Always allow a few cents above entry price or under entry price that is posted in the trading plan. That mean if “xyz” setup is above $12.22 and stop is under $12.00 then I will use at least 3-5 cents above $12.22. For more expensive stocks like $20- $50 I will use at least 5-10 cents. More expensive stocks will be at least 5-15 cents until $100 and 10-15 cents until $200 stock. More than 15 cents is for the rest. Minimum is 3 cents and maximum is 20 cents. I would like to note that also depends on the trading plan. Example: XYZ long above 102.55, stop under 102.25. For sure I won’t use 15 cents because risk is 30 cents and in that instance 5 cents is enough. Any questions on this,  please contact me.

- Trading alerts are valid as long as the  price is between entry and stop area. This is a generally rule and depends on chart action, but if price breaks under/above stop area before setup I will cancel that trade at that moment and I will follow for new trading plan if the generally idea will still work.

- NOTE: Taking just a few trades is enough to be a successful trader. Overtrading is probably the number one reason new traders fail. I primarily take swing trades personally . Please remember to keep that in mind.

- What to do if stock have gap against you at market open?

 Sometime that can happen and always is question; ohhhhhh what to do now? There are few scenarios what trader can do in that case. In all scenarios you must have clear head. You can wait first 5 min low (if you were in long trade and get big gap down). I will for sure use this if you are in trap. If you don’t have stomach for that you can sell half at start and wait with others. Of course you won’t wait to see very extended 5 min bar and take much worst loss as at open. Second scenario is to wait and mark 15 min low (again is if gap down against you). It is like 5 min scenario, just wait more. And 3rd scenario is to wait 30 min. You can notice that all this scenarios have connection with reversal periods what we have in first 30 min. That is reason why we use them, because as we know about 70% gaps will filled and we want take that advantage in this case. When we mark our lows, we wont only wait to see what will happen, we can on some bounce (trying to fill gap) take some partials to have less loss in worst case, we will of course move out stop up with reasonable reasons (pivots, broken resistance come to be support…). Very important is to try being calm with clear head. I know that is lots of time easier to say than do that, but that is only way. You won’t every time save your money, but for sure sometimes will work. To repeat, we play here on our knowledge that about 70% gaps will fill. On traps is more caution situation you won’t every time save your money, but for sure sometimes will work.  Because panic can destroy our plan, but still can see bounce at open, especially if is open on support, so we still want take that advantage.