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#9256 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
It’s based on recent lows or levels of support such at 20 and 50 day moving averages. |
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Posts: 45,940
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#9257 |
Supporter
Join Date: Dec 2005
Location: Highlandville, MO
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I saw a nice turn around this week. Things had been falling since mid February, but Wednesday, Thursday and Friday were great. I was down 8% on the week Tuesday close. By Friday close, I was up 15% for the week. That was a great swing. I am hoping that the correction is over and this green continues.
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Posts: 12,665
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#9258 |
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Join Date: Jan 2009
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Posts: 64,003
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#9259 |
Banned
Join Date: Jan 2013
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Posts: 53,803
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#9260 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
For possible breakout stocks that I listed, I am looking to buy in at a price ABOVE it's current market value. I do not purchase unless the stock confirms continued movement upward. So I write Buy stop market orders, meaning the stock has to go above my stop market order before I buy shares. This ones I posted this week are all pretty close to their breakout price, but many times shares are $1-2 away from a breakout price so they must continue decent upward momentum before I'll buy. Once purchased, I monitor the stock for continued appropriate movement. Sometimes after purchasing a stock on breakout it will squat quickly, this isn't a good sign. Sometimes when I see this I sell the stock within the first few hours after purchasing or days after purchasing because it didn't confirm that the breakout up was real. With swing trading you are generally looking for 3-10% gains within days to weeks. The stocks previous volatility will determine if it falls on the low or high side of that range. One of my rules is once a stock reaches 10% gains I sell at least 50% of my position. If the chart shows that a bullish pattern may continue, I let the remaining 25-50% of the position run but raise my stop loss to at least break even (limit your chance of losing trades!) Hope that helps. |
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Posts: 45,940
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#9261 | |
Veteran
Join Date: Oct 2002
Location: Bismarck
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Quote:
If anything, I think a 10% stop loss is something I'll have to think real real hard about ever using again. |
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Posts: 1,253
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#9262 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
Buy this book and read it. https://www.amazon.com/Think-Trade-L...7931/ref=nodl_ |
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Posts: 45,940
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#9263 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
Gaining with individual stocks is about capital risk management. That HAS to be the first priority. Because trying to beat the market with just buying and holding will rarely beat the index anyway and comes with WAY more risk (all it takes is one stock tanking to drag you below the index). More than 90% of individual stock investors don't beat the market average over time. It's because they have no strategy to maintain the capital they've gained on winning trades and to understand how they're "winning." If you make a bunch of money this year but then convince yourself some hot stocks are the next winning ticket, so you shift your money without a stop loss plan, your money could literally vanish or be tied up for years trying to get back to even. All those gains this year were for nothing if your new stocks don't return! I've laid out my technical rules in this thread before but this also helps with identify sector rotation similar to what we just had with money flowing out of the Nasdaq. If you are reviewing charts for a certain pattern and breakout, only stocks on upward momentum will hit you radar. So when those growth stocks everyone was high on in February started selling off, those stocks will start to be removed from my charting software as they no longer meet my momentum criteria. In place, other stocks/sectors start rising to the surface, in this case it was value based companies that started meeting my criteria for breakout. If you follow the charts as a trader, instead of guessing (this stock sold off, it looks like a buy now!), your rules will identify the momentum swing to other sectors. I do not believe in averaging down unless it's a long term position in a company with good fundamentals that I plan to hold over a long duration. Don't confuse investing and trading. And yes, I do both. |
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Posts: 45,940
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#9264 | |
Starter
Join Date: Jan 2014
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Quote:
I think guidance plays the biggest role in the wtf responses to earnings. A lot of the times when I've seen sell-offs on good earnings, it's cause their guidance is too conservative. |
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Posts: 531
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#9265 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Lots of stocks out there with great dividends.
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Posts: 51,488
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#9266 |
Prestige Worldwide
Join Date: Jan 2009
Location: Spring Hill, KS
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Posts: 18,436
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#9267 |
Fish are scared of me
Join Date: Nov 2001
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Gonna be a good week for VYGVF
I've got my Samsung S21 ultra ordered and soon as I get it I'm opening a Voyager account |
Posts: 40,658
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#9268 |
Fish are scared of me
Join Date: Nov 2001
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Posts: 40,658
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#9269 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Posts: 45,940
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#9270 |
Prestige Worldwide
Join Date: Jan 2009
Location: Spring Hill, KS
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Posts: 18,436
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