Also, is anyone actually reading this journal? It helps me to write it out on here and stay to my game plan and such.. but just wondering if anyone else is finding any use out of it or reading it?
im reading it. i think it will be useful for system traders who are debating wether learning to actually trade is a better path than strictly staying automated. btw. are your positions long? tomorrow morning is NFP before open. i wouldn't be too surprised if there was some kind of knee jerk sell off like the 22nd if the number comes in off expectation since people are still skittish.
I have closed out the PBG position for $35.23 Which represents a gain of: +5.6% Total Gain Since Starting Journal: +21.21% Return on Trading Equity so far: +5.3% Still holding HSIC
Closed out HSIC for $57.99 which means no more open positions. Gain: +2.1% Total Gain Since Starting Journal: +23.31% Return on Trading Equity so far: +5.8% 5 winning trades 1 losing trade
Nice trades, you did well considering the markets had a really bad down week just as you started. Do you have any particular method for screening which stocks to play in? Or do you just use experience/gut feel.
I do not have a "set" method on screening the stocks. Generally most DAYS no stocks even show up in my initial screen. Especially on days the market went up. However, when stocks do show up I normally have 10 or more that fit the description of what i'm looking for. Since these are normally on the days when the market went down which helps to produce the type of signal I am looking for. I posted earlier in this thread basically what that screen comprises of. Once I finally get a list which normally will have 10 or more, I then go through each one and glance at the financial info for the company, make sure no important news releases are due within my 5 day holding period. I also try to determine what caused the stock to go down so badly. If its something very detrimental to the company then I avoid it. If its something as simple or stupid as an analyst downgrade then the likelihood of that stock making it to my final list is very high. If I have more stocks that make it to my final selection than I have room to buy then I mostly just go with the one that I have the best "gut" feeling about.
I still read this journal but have been on vacation for a week in Panama so could only respond late. I did take a look at your methods and in your first week and my first trade made 12% in 3 days.........it was one of your picks that you didn't jump on. ( Is it bad etiquette to use some others pick ?)
yuri, Glad the trade worked out for you. Today I have 2 stocks that have appeared in my screen. OXPS and IAG. Something just doesn't feel right about these 2. Normally I would just ignore these 2 stocks completely when it doesn't feel right. However, its been a few days since I have had any show up in my screens... which has made me slightly impatient.... so I will continue to research these two companies and perhaps take a position at open tomorrow. If anyone has any thoughts or comments about these two, feel free to chime in.