Originally Posted by MTG#10:
To be more clear, I didn't mean we all chip in and set up one portfolio that we all divide profits on at a predetermined end. Basically a virtual portfolio that we all create our own version of and spend as much or little as we can afford.
Feels like that's already what's happening? Maybe each person list their THREE top stocks (one short term about to bounce pump n dump. One long term hold and one...um? wild card?) [Reply]
Originally Posted by lewdog:
I like to drink and screen for stocks on Saturday afternoon. These charts are meant for possible swing trades and I liked their setup. Swings trades are held for days to weeks and look to make 5-10% profit (sometimes a more). I may decide to let 25-50% of the position run after selling for gains but many times will at least raise my stop to break even so the trade is guaranteed to be profitable.
You only enter a swing trade with a pre-determined stop loss that is set upon entry. If the trades works against your favor, you get out and do not ride it down. You NEVER average down in swing trading, only long term positions.
FN
AYI
SNX
SWTX
SANM
ORN
and possibly, TACO. Not a joke.
I will watch how these open and look for entry above a breakout point on the chart. If the day opens poorly, I may not start any new positions.
For someone who is new to this, this is the kind of insight I appreciate. Thank you. [Reply]
Originally Posted by DJay23:
For someone who is new to this, this is the kind of insight I appreciate. Thank you.
Your goal as a swing trader is to have your winners double your losses, so averaging 10% for your winners and 5% for your losses. With this ratio, you only have to be successful on 50% of your trades to make nice profits across the board. You have to be disciplined though. If you don't set a stop loss on a position entry and it moves 25% or more against you, that's too large a draw down on your capital and makes your success rate have to be that much higher (which is hard).
If you have questions please ask. Trading is different than investing. In trading your must have defined rules and follow some form of technical analysis. You should at least mentally define the difference between your trading positions and long term investing. [Reply]
Originally Posted by lewdog:
Your goal as a swing trader is to have your winners double your losses, so averaging 10% for your winners and 5% for your losses. With this ratio, you only have to be successful on 50% of your trades to make nice profits across the board. You have to be disciplined though. If you don't set a stop loss on a position entry and it moves 25% or more against you, that's too large a draw down on your capital and makes your success rate have to be that much higher (which is hard).
If you have questions please ask. Trading is different than investing. In trading your must have defined rules and follow some form of technical analysis. You should at least mentally define the difference between your trading positions and long term investing.
More great advice.
I was greedy with CCIV and was left holding the bag. Having just jumped in it was a big chunk of my portfolio and now I'm in the red. Obviously I should have sold. When I should have sold is what I didn't understand.
If I'm reading what you're saying right, I should have set my own number (10%?) and sold then? I know 10% is a nice return on long term investments, did you use that number because it is generally considered good for short term too?
Originally Posted by DJay23:
What's the scoop on ZOM? I keep seeing it brought up and read about the company and I think I'm missing something.
Pharma with patents on a pet diagnostic tech that could change the veterinarian space. Speculation that its a potential $6-10 stock at some point this year. [Reply]
Originally Posted by KCUnited:
Pharma with patents on a pet diagnostic tech that could change the veterinarian space. Speculation that its a potential $6-10 stock at some point this year.
Got it, thank you. And late March is when it is predicted to jump is what I've seen. [Reply]
