How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology

I looked at the chart and decided to wait and see the price action for the first ten minutes of trading. You can follow along with my commentary in Figure 8.2. When the market opened, I saw that the buyers could not push the price any higher. There was no interest in buying back the stock. Therefore, I decided to do a VWAP trade. I monitored VWAP and the price action around VWAP for two 5-minute candlesticks. I realized that the sellers were in control and that the buyers could not push the price higher than VWAP and hold it. I knew it must be a good short with a stop above VWAP.